The Oman Facility Management Market size is estimated at USD 0.7 billion in 2024, and is expected to reach USD 1.05 billion by 2029, growing at a CAGR of 8.45% during the forecast period (2024-2029).
Facility management comprises a wide range of solutions and services influencing enterprises' efficiency and productivity. The Oman facility management market is primarily driven by the growth in the construction sector, increasing demand from the commercial sector coupled with government initiatives, and expansion of the hospitality sector.
The Oman FM market is fragmented, with local and international players possessing significant years of industry experience, and the intensity of the competitive rivalry is high. The companies keep innovating and enter into strategic partnerships to retain their market share.
In January 2023, Renaissance, Oman's accommodation, services solutions, and integrated facility management company, announced its collaboration with SOURCE Global, PBC to generate sustainably sourced drinking water for Renaissance Village Duqm (RSVD) in Oman's Special Economic Zone at Duqm (SEZAD), with plans to expand to additional sites.
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