AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Qatar Facility Management Market Growth, Trends and Forecast 2019-2024: Construction Boom Owing to the Growing Clout of Multinational Conglomerates - ResearchAndMarkets.com

December 23, 2019 GMT

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

Competitive Landscape

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:

Market Dynamics

Market Drivers

Market Restraints

Industry Value Chain Analysis

Industry Attractiveness - Porter’s Five Force Analysis

Companies Mentioned

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/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

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

http://www.businesswire.com/news/home/20191223005353/en