Qatar Facility Management Market Growth, Trends and Forecast 2019-2024: Construction Boom Owing to the Growing Clout of Multinational Conglomerates - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 23, 2019--
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
Increasing Emphasis on Green Building Practices
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:
Industry Value Chain Analysis
Industry Attractiveness - Porter’s Five Force Analysis
For more information about this report visit https://www.researchandmarkets.com/r/3c4jl9
View source version on businesswire.com:https://www.businesswire.com/news/home/20191223005353/en/
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KEYWORD: MIDDLE EAST QATAR
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 12/23/2019 10:25 AM/DISC: 12/23/2019 10:25 AM