A report by P&S Intelligence notes that Qatar’s facility management (FM) market is poised for growth over the next few years. Its revenue is likely to surge from an estimated $5.28bn in 2021 to $22.3bn by 2030, at a 17.3% CAGR between 2021 and 2030.
The strongest reason is Qatar National Vision 2030, under which the government seeks to make the country less reliant on the oil and gas industry. For this, infrastructure is being constructed on a massive scale to support other industries, which will then also drive the demand for facility maintenance, the report stated.
Some of the mega construction projects underway in this regard are the Sheraton Park, Western Green Spine in Doha, Sidra Medical Research Centre, and Education City. The country will also host the 2022 FIFA World Cup, which is another key factor propelling construction and infrastructure development activities here. The infrastructure, being constructed with a spending of more than $220bn, will need to be maintained even after the world cup ends, thus creating a high requirement for facility management, the report noted.
Among the key findings of the P&S Intelligence study are the COVID-19 pandemic impacted the demand for facility management negatively in 2020, since most industrial and commercial facilities were closed and there were restrictions on the movement of people. However, since the lifting of the lockdowns, the demand for cleaning services has surged sharply, as the focus of entities and individuals on general hygiene has increased significantly, the report explained.
Property management services have also witnessed the highest demand in the FM market to date because they include the essential services that keep the built infrastructure in the optimum working condition. The outsourced mode of facility management will gain wide popularity in the coming years because it allows industrial and commercial entities to take their minds off these hassles and focus on their core operations.
Commercial users create the highest demand for FM in Qatar because clean and well-maintained commercial facilities are essential for attracting lessees and visitors. The biggest Qatari facility management market trend is green buildings, which the government is supporting in order to reduce energy consumption, the report stated.