Credo report highlights FM growth in Saudi Arabia
Highlights of the research report will be presented at the upcoming MEFMA Confex 2015
According to a research report produced by Credo Business Consulting, Saudi Arabia’s FM market is currently worth $20-25bn and is growing over 10% year-on-year. Conducted in partnership with the Middle East Facilities Management Association (MEFMA), Credo’s report will be presented at the upcoming MEFMA Confex 2015.
Findings from the report includes information on a government initiative to increase asset management standards. Additionally, it details the proposal’s approach in managing procurement, service management and human resource development. The proposal aims to establish a regulation that will aid in professionalising the FM industry in the kingdom.
Alistair Stranack, partner and head of Credo Middle East, said: “Saudi Arabia has the potential to be far and away the largest FM market in the region but up until now it has been relatively unsophisticated and driven almost exclusively by low-cost labour supply
“Trends in both public and private sectors are starting to change that. In the private sector, a new generation of smart city developments is coming on line and in the public sector, a new Government initiative is underway to improve the standards of FM across its estate.”
The upcoming MEFMA Confex will be hosted at the Address Marina Hotel in Dubai and is set to run from 16 to 17 of March 2015. The main theme for this year’s edition is Smart Cities, Smart Technology; Smarter FM.
Commenting on the Confex, Jamal Lootah, CEO of Imdaad and president of MEFMA shared; “The FM industry is central to the realization of a Smart Cities vision that all countries in the Middle East have. Through the Confex, delegates will have an insight into the latest innovations and building management solutions that will help city planners and developers understand the importance of our industry and its impact on the built environment.”