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The Shift from Price to Value-based Bundled Contracts Drive Growth Opportunities
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Facility management (FM) is gaining traction in the GCC, as more end users have begun to appreciate the impact FM has on the bottom line; energy management is now being incorporated into FM Contracts. Besides, the use of sophisticated assets means that they will require higher quality and standards of asset management. With mega events, such as the EXPO 2020 and FIFA world cup 2022 set to showcase the region to the world, FM will no longer be considered a labor-intensive process but will be a factor that has a positive impact on the brand and the value of companies. Booming business in the construction, hospitality, and tourism sectors will be the top driver while the lack of qualified personnel, perception of FM outsourcing as loss of control, and the largely unorganized structure of the market will be the top challenges. Though strategic partnerships are certain to garner market share, this report offers insights into the growth opportunities available and critical factors that participants may consider for succeeding in the industry.This study captures major technological trends that will define the future of FM services in the GCC and general trends observed in each of the countries in the GCC. While UAE is the most advanced in terms of adoption of technology and service expectations on par with rest of the world, other countries in the region are warming up to the idea that FM outsourcing could in fact lead to operational efficiency and have a positive impact on the profits. The study covers key trends from 2020 to 2024 and predictions and forecasts for up to 2024. This study also presents the competitive landscape, market share in major markets, competitive trends, the impact of technology, growth opportunities and critical success factors.Key participants are expected to consider strategic partnerships to gain market share and mine for opportunities in energy management, waste management, and other adjacencies to stay ahead of competition.
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