UAE FM market to register 9% CAGR by 2021
Most demand for FM services in the country comes from Dubai "on account of tourism sector" activity in the emirate, a recently released research revealed
The UAE's facilities management (FM) market is expected to grow at a compound annual growth rate (CAGR) of 9% between 2016 and 2021, a recently released study revealed.
In addition, the report found that property services "dominated the country's FM market in 2015", with the segment expected to "maintain its dominance over the next five years".
UAE Facility Management Market, 2011-2021, prepared by TechSci Research, states that the country's FM sector will expand on the back of increased construction development.
Security services are expected to register the fastest rate of CAGR by 2021.
Most demand for FM services in the country comes from Dubai "on account of tourism sector" activity in the emirate.
The report continued: "In order to reduce the dependency on crude oil based exports, the UAE aims to diversify its economy and plans to invest in non-oil based sectors, such as construction and real estate.
"With improving commercial sector and increasing number of residential projects in the country, the UAE FM market is expected to grow at a healthy pace during next five years.
"In addition, emergence of Cloud-based solutions is further expected to aid the growth of the [sector] over the span of next five years."