FM market in Saudi Arabia, Egypt, and the UAE to continue to grow in 2019

Posted on 23rd May 2019

FM market in Saudi Arabia, Egypt, and the UAE to continue to grow in 2019
Image courtesy of: https://www.constructionweekonline.com/sites/default/files/cwo/styles/full_img/public/images/2018/07/28/163876643.jpg?itok=eD1nOGI6

According to *Constructionweekonline news report, the facilities management (FM) market in Saudi Arabia, Egypt, and the UAE will continue to grow in 2019, Eltizam Facilities Management Group said, citing Technavio market research, adding that Middle East government-backed infrastructure such as metros, railways, and airports – as well as strategic projects such as Expo 2020 Dubai; the futuristic Neom super-city; and The Red Sea Project – would spur this evolution. 

A recent report by London-based market research company Technavio predicts that the Middle East's FM industry will deliver a compound annual growth rate (CAGR) of 11% between 2019 and 2023, predicting market growth of $29.9bn within the four-year period. 

Chief executive officer of Eltizam, Chris Roberts, said the FM firm planned to capitalise on opportunities such as Expo 2020 Dubai to further its local growth, adding that technology would be a key factor for not just Eltizam's, but the industry's future growth. 

Eltizam’s subsidiary Tawafuq Facilities Management recently deployed its ce: mobility-maintenance system Tawafuq Go.

Q2 2019 will also see the launch of its quality control mobility system Asset Check, and will invest $5m (AED18.3m) in property technologies (proptech) to support its Vision 21 Business Transformation programme. 

“FM has evolved from simply managing buildings to delivering a delightful experience," Roberts said in a statement.

"Now empowered with technology, facility teams have shifted their focus from cost centric services towards creating value-driven services.

"There is a lot more room for sector improvement and growth within the GCC, and we anticipate more business from a diverse but discerning client base as the industry continues to mature and catch up with best practices seen globally.

“The UAE is leading the way in the smart transformation and construction of cities, and we at Eltizam are working continuously to remain at the forefront of these developments.”

*News source: https://www.constructionweekonline.com/business/182889-expo-2020-dubai-saudis-neom-futuristic-city-to-drive-middle-east-fm-market-growth-in-2019


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