The Middle East Facilities Management (FM) market remains healthy with analysts from Eltizam Asset Management Group projecting continued robust growth throughout 2019 led by KSA, Egypt, and the UAE. The key drivers behind FM industry growth all relate to the expanding pipeline of development projects across the region: government-backed infrastructure projects (metro and rail projects, airports) in UAE; strategic projects such as Expo 2020; mega projects such as Neom and Red Sea tourism projects in KSA; and new urban centre developments across Egypt. These projects all form integral parts of the strategic visions of countries in the region, aimed at developing national infrastructure capacities and diversifying economies.
According to a recent research report by Technavio on FM services in the Middle East, the market will deliver a Compound Annual Growth Rate (CAGR) of more than 11% during the period 2019-2023. In addition, the Middle East’s FM services market size will grow by approximately $29.9 billion during the same period.