DUBLIN--(BUSINESS WIRE)--The "Qatar Facility Management Market - Growth, Trends and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Qatar Facility Management Market is expected to grow at a CAGR of 8.26% over the forecast period, 2019-2024
The market is expected to grow due to the upcoming FIFA World Cup which has led to an unprecedented boom in the investment into infrastructure in addition to Qatar's Vision 2030 which envisages transforming Qatar into a sustainable modern society.
As part of the Vision 2030, which aims to make the country's development sustainable and less dependent on Oil, the government has been investing in cities like Lusail, which are being entirely built from scratch. Given that almost 80% of the lifecycle costs of any infrastructure is an operational expenditure, it can be safely assumed that this focused investment into developing infrastructure will lead to the proliferation of maintenance services, i.e. Facility Management Services.
The economic blockade of Qatar due to the continued tensions in the Gulf has led to the government taking strong efforts to make the country self-sufficient and less dependent on other countries in the region. Qatar is the most stable economy in the region with an AA status which further underpins the opportunities it expected to generate in the future.
Moreover, the continued high growth in both the Facility and Integrated Facility Management of the country reflects the strong push for both expansion and outsourcing of the existing facility management participants in the country.
Scope of the Report
Facility management encompasses several disciplines to ensure functionality, comfort, safety and efficiency of any building by integrating people, place, process and technology. While Hard services include physical, structural services like fire alarm systems lift, among others, soft services include cleaning, landscaping, security and similar human-sourced services.
Key Market Trends
Governments Investment into Infrastructure Projects
- As part of its vision of creating a sustainable and self-reliant economy, the Qatar Government has been investing heavily in the infrastructure sector. At the end of 2018, the Public Works Authority (Asghar) announced an investment of QR 21.8bn (USD 6bn) in infrastructure projects across a range of sectors, that includes real estate, transport, and health and education.
- The PWD sector is expected to roll out 19 infrastructure projects with Residential Real Estate as a critical focus. This includes plans to build hard infrastructure on more than 5000 plots of land. Also, 11 other projects that include new health care facilities, schools, and highway and road expansions that were started earlier will be completed.
- Qatar's FM market is characterized by high levels of consumer awareness and maturity. Hence, this infrastructure push is expected to create holistic opportunities for the Facility Management Market in the future even though in terms of GDP it is much smaller market as compared to UAE and Saudi Arabia in the region.
- Further, the infrastructure push from the government is focused on providing more opportunities to local construction firms, with small-scale businesses expected to be principal beneficiaries of nationwide development projects. This is expected to help create influential local FM participants in the future. With the availability of stronger local partners, the market is expected to attract foreign partners to continue to invest in large projects in a post-2022 scenario.
Increasing Emphasis on Green Building Practices
- The growing importance of Qatar in the market is the high number of certified green buildings. In the Middle East, only UAE has a higher number of certified green buildings. Qatar has the fifth-highest number of LEED-registered and certified buildings outside the U.S.
- The Global Sustainability Assessment System (GSAS) system, specially developed by Qatar, is billed as the world's most comprehensive green building assessment system. It has been developed after rigorous assessment of 40 green building codes available worldwide. The codes developed have a strong focus on sustainable development and environmental stress mitigation.
- Sustainable Energy Management Services remain one of the key offerings of the vendors in the FM market. The advisory services of the vendors include a reduction in water consumption, carbon emissions, and compliance with legislation and energy consumption metrics.
- The city of Lusail, which epitomizes the government's Vision 2030 sustainable development plan, has a range of features which include water-sensitive landscaping plans in addition to a district cooling system that has been designed to save 65m tons of CO2 a year.
The Facility Management Landscape is highly competitive, with several local and international players active in the Qatar Market. International FM participants operate in the country through partnerships with local players. With the market expected to broaden and yield more opportunities, more players are expected to enter the market soon.
The recent developments in the market are as follows:
- September 2018 - FMM, a joint venture of Ferrovial Services and Qatar Airways, will provide facility management services at the Museum of Islamic Art in Qatar over the next three years. The agreement includes electrical maintenance, plumbing and mechanical work at the 45,000 sq. Meters facility.
- October 2018 - Interserve under a new contract, will provide facilities management support to the Qatar National Theatre. Under the agreement, DIFM will deliver a comprehensive maintenance and operations service to the 490-seater theatre, located on the Doha Corniche and continually plays hosts to a wide selection of concerts and plays.
- Construction Boom Owing to the Growing Clout of Multinational Conglomerates
- Increasing Emphasis on Green Building Practices
- Growing Demand for Soft FM Practices
- Governments Investment into Infrastructure Projects
- Regulatory Issues and Inflation Challenges
Industry Value Chain Analysis
Industry Attractiveness - Porter's Five Force Analysis
- Emcor Facilities Services WLL
- Al Faisal Holdings (MMG Qatar)
- Sodexo Qatar Services
- Al-Asmakh Facilities Management
- G4S Qatar
- Conservo Facility Management Co. WLL
- Cofely Besix Facility Management
- Como Facility Management Services
- Elegancia Hospitality & Facility Management Services
- Mosanada Facilities Management Services
For more information about this report visit https://www.researchandmarkets.com/r/3c4jl9