Doha: Qatar’s facility management industry is forecast to witness steady growth at a compound annual growth rate (CAGR) of 7.90 percent from 2023 to 2028. A report by Mordor Intelligence, a leading market intelligence and advisory firm stated that the country is keen on having more facility-related projects as the construction industry is booming with enhancing state-of-the-art infrastructures and green buildings.
In line with Qatar National Vision 2030, the government aims to expand various sectors including transportation, tourism, education, trade deals, real estate, and hospitality.
Last year’s well-concluded World Cup has enabled the country to reach its milestone in executing top-notch facilities in Qatar. The report said that “Qatar’s residential, commercial, industrial, and public infrastructure sectors are the most served.
The upcoming sectors include oil and gas companies, banks, large waterfront properties, and sports and healthcare facilities.
The operators in facility management have also set tasks for daily requirements by focusing on incorporating technology-based solutions in the market, thus playing a significant role in strengthening Qatar’s economy and leading toward a sustainable and healthy environment. Facility management in Qatar includes numerous services including utilities, maintenance operations, and security. “The adoption of facility management solutions and services is likely to be driven by several factors, including an increase in demand for cloud-based facility management solutions and a rise in demand for facility management systems linked with intelligent software,” it said.
Well-built infrastructure is one of the key facilities in the country adding growth to the market.
Government NGOs and other private firms have partnered towards crucial projects in a successful facility management operation in the market benefitting clients, investors, and tourists alike. The report says that “The infrastructure push from the government is focused on providing more opportunities to local construction firms, with small-scale businesses expected to be the principal beneficiaries of nationwide development projects. This trend is expected to help create influential local facility management participants.”
“With the availability of stronger local partners, the market is expected to attract foreign partners to continue to invest in large projects in a post-2022 scenario,” it added.
