Fuelled by investments in infrastructure
The Saudi Arabian government has allocated around $43.8 billion for transportation, telecommunications, water, agriculture and other related infrastructure projects, besides several metro development projects in major cities. Infrastructure development in the country is anticipated to boost the need for facility management. The facility management market in Saudi Arabia has initiated the consolidation by inviting several Tier 1 companies to meet the expected increase in demand originating from various end users.
The construction sector in Saudi Arabia contributes about 8% to the country’s total GDP. Moreover, Saudi Arabia is poised to become one of the largest construction markets in the Middle East, with more than $800 billion in investments originating from large scale infrastructure projects in the country by 2030.
Saudi Arabia has planned to emphasize on the greater participation of the private sector for the development of its infrastructure, most likely through public private partnerships (PPPs).