According to the estimates of the market research company, PS Intelligence, the market will exhibit a CAGR of 10.1% from 2020 to 2030 (forecast period). This is credited to the surging requirement for facility management services in residential and commercial buildings, industrial units, and civic infrastructure projects. Additionally, the market is also being propelled by the launch of several development projects, such as the Qatar National Vision 2030, Saudi Vision 2030, U.A.E. Vision 2021, and Kuwait National Development Plan.

The expansion of the construction industry in GCC countries is positively impacting the progress of the GCC facility management market. This is ascribed to the rising tourist footfall and implementation of favorable economic conditions. As part of various strategic visions, GCC member countries allocated high budgets to the construction industry, which is boosting the demand for facility management services. Moreover, these countries are focusing on mitigating their economic reliance on the oil and gas sector, which is also fueling investments in the construction industry.

Get More Insights: GCC Facility Management Market Revenue Estimation and Growth Forecast Report

Globally, the Saudi Arabia will exhibit rapid expansion in the GCC facility management market in the forthcoming years. This is ascribed to the launch of various real estate projects in the country, such as Amaala, the Red Sea Project, and AI Widyan, which are predicted to be completed by 2028, 2030, and 2020, respectively. These projects are predicted to create lucrative growth opportunities for facility management service providers in the coming years. Furthermore, the growing public awareness about the benefits of facility management is also contributing to the growth of the market in the country.

Thus, the demand for facility management services will soar in the GCC in the years to come, mainly because of the rising tourist activities and booming construction industry in the region.