Intrado, the global provider of telecommunications and network infrastructure services, said Qatar Facilities Management market is expected to expand at a compound annual growth rate of 8. 26% during the period 2019-2024.
The site added in a report during which it reviewed its analytical view of the market during this period that the market is expected to grow at this rate due to the works of the upcoming World Cup projects that led to an unprecedented boom in investment in infrastructure in addition to the Qatar 2030 vision that aims to transform Qatar into a modern society with A sustainable economy, and the report said that as part of Qatar’s National Vision 2030, which aims to make the country’s development sustainable and less dependent on oil, the government is investing in cities like Lusail, which are being built entirely from scratch.
Adding that, given that approximately 80% of the life cycle costs of any infrastructure are operating expenses, it can safely be assumed that this focused investment in infrastructure development will lead to the proliferation of maintenance services, and other services that fall under the umbrella of facility management services.
The economic blockade has also led the government to make strong efforts to make the country self-sufficient and less dependent on other countries in the region.
Thanks to these efforts, Qatar today is the most stable economy in the region with a strong credit rating at AA level, which further enhances the opportunities that investment companies expect in the future.
As part of its vision to create a sustainable self-reliant economy, the report adds that the government of Qatar is investing heavily in the infrastructure sector.
At the end of 2018, the Public Works Authority announced an investment of 21.8 billion Qatari riyals, about 6 billion US dollars, in infrastructure projects across a range of sectors, which include real estate, transportation, health, and education.
The private sector is expected to launch 19 infrastructure projects with a focus on residential real estate.
This includes plans to build solid infrastructure on more than 5,000 plots of land, and another 11 projects that will include new healthcare facilities, schools, and expansions of highways and roads that were started earlier will be completed.
The report notes that the facility management market in Qatar is characterized by high levels of consumer awareness and maturity, and therefore this infrastructure push is expected to create comprehensive opportunities for the facility management market in the future.
Moreover, the government’s infrastructure boost focuses on providing more opportunities for local construction companies, with small companies expected to be the main beneficiaries of development projects nationwide.
This is expected to help create effective local participants in facilities management in the future, and the market is expected to attract foreign partners to continue investing in large projects in the post-2022 scenario.
The report indicates the increasing importance of the State of Qatar in this market, given the large number of green buildings, noting that Qatar has the fifth largest number of registered and accredited buildings from LEED outside the United States.
The GSAS, developed specifically by Qatar, is the most comprehensive green building assessment system in the world, and has been developed following a rigorous evaluation of the 40 green building codes available worldwide.
Strongly developed icons focus on sustainable development and environmental stress relief. Sustainable energy management services remain one of the major offerings in the utility market.
Vendor consulting services include reduced water consumption and carbon emissions, compliance with regulations and energy consumption metrics.