Research suggests the world's fastest growing market in facilities management is Saudi Arabia but experts predict serious challenges in the next five years to keep up
Jeddah: The facilities management industry in Saudi Arabia will be worth between $1.5 and $2 billion by 2014 making The Kingdom the fastest growing FM market in the world[1] according to organisers of The Big 5 Kingdom of Saudi Arabia who are launching the inaugural Saudi FM Summit in Jeddah in March 2011. However, with only a handful of local companies currently in the market, a panel of consultants for the summit predict a serious shortfall in suppliers that are able to service the 687 current developments, 22% of which are in the execution phase[2].
One such consultant is Mick Dalton, Managing Director of Musanadah Facilities Management based in Saudi Arabia who said; "Development in Saudi Arabia continues to grow at an astonishing pace and research suggests that the Saudi Arabian FM market will be worth $100 billion over the next 25 years. But the market has just over ten local companies to date and no matter how big they can become, these companies will never be able to match the market demand without an increase in competition."
Meanwhile, John Moore, Division Head of FM for the Jash Group said that better technology is needed to drive the market forward; "Saudi Arabia is targeting between seven and ten per cent of its electricity to come from renewable sources by 2020 and this is putting pressure on developers to balance carbon emissions during the lifecycle of the building. In turn facility management companies are expected to provide this solution which means an increased use of integrated management systems and better implementation of technology."
As a consequence The Big 5 Kingdom of Saudi Arabia is launching the inaugural Saudi FM Summit on 1-2 March 2011 in Jeddah which will address the key issues facing the facilities management industry in Saudi Arabia, provide an education platform and help promote the industry to developers, the real estate market and wider construction industry. The BIFM (British Institute for Facilities Management) and consultants such as Mick Dalton, who was also a past Chairman of the BIFM, will be running accredited training courses.
Speaking about the Saudi FM Summit, President of Khalid Ali Al Turki & Sons, Rami Alturki said: "We are extremely excited to participate in the FM Summit and are proud to sponsor it through our recently established subsidiary, Musanadah FM. This event will be a great platform to highlight the importance of the emerging FM industry in Saudi Arabia and will be a showcase for leading service providers such as Musanadah to share knowledge and best practices."
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About the Saudi FM Summit
As part of expanding FM EXPO's regional penetration, the inaugural Saudi FM Summit will take place on 1 - 2 March 2011. Supported by the Big 5 - Kingdom of Saudi Arabia, the event will be hosted in Jeddah, the country's commercial capital.
The Saudi FM Summit will bring together the facilities management industry from around the region to focus completely on education and networking. www.fm-expo/summit
For more information contact:
James Holmes
Limelight Public Relations
T. +971 50 114 2216
E. james.holmes@limelightprme.com
© Press Release 2011
