Qatar Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End User (Commercial, Residential, Industrial, Public Sector), By Sectors (Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By Region, Competition Forecast & Opportunities, 2018-2028
Qatar Facility Management market is anticipated to register a robust CAGR during the forecast period. The main factor driving the market growth is rising infrastructure projects in the country as Qatar seeks to increase its urbanization with the goal of the population being spread all over the country rather than just one province. Facility Management (FM) are support services that are used in real estate & property for the benefit of society. By using Facility Management services, a person can get all the services related to their day-to-day use. Services related to fire safety, cleaning, maintenance, security, logistics, environment, Heating, Ventilation, and Air Conditioning (HVAC) services, and others come under Facility Management. Facility Management services are used in various sectors, such as residential, commercial, and industrial. The market has companies but also consists of individuals carrying out the services themselves without the banner of a company.
FIFA World Cup 2022 Changed the Fortune
One of the major factors influencing Qatar's building management market is the 2022 FIFA World Cup held in the country. The construction of sports stadiums, training grounds, and other infrastructure gave rise to several facility management projects.
On average, more than 10% of its annual national output was spent on infrastructure building to host the event. For instance, the country is building a 40,000-seat modular arena for the same, which will include seats, concession stands, bathrooms, shops, and more.
Qatar has spent nearly USD 220 billion on building the required infrastructure in the country. The event will therefore stimulate the need for facility management services.
Latest Developments in Qatar Facility Management Market
Al Asmakh Facilities Management and A to Z Services announced their merger to create one large integrated facility management company in Qatar during the year 2021. The merger resulted in the combination of eight individual entities; four are from A to Z services, and AL Asmakh Facilities Management also contributes four.
Qatar has many projects worth billions under its belt, which will require Facility Management Services during the forecast period, be it residential, commercial, or any other sector. These projects are expected to drive the demand for FM services in the country along with the entry of new players in the market.
Barwa Real Estate Group announced implementing a system named "Fusion Applications" on Oracle Cloud. This enables the user to automate their back-office operations and build powerful management processes such as human resource, financial, and supply chain management.
Lack of skilled laborers restraining the market growth
Qatar has a lot of migrant laborers, but the majority of these laborers are not skillful, and hence, it requires a lot of time and investment from companies to train them, make them skillful, and carry out the work carefully with all precautions.
Recent Developments
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