The $220 billion infrastructure developed for 2022 Fifa World Cup will need to be maintained even after the event ends, creating a high requirement for FM services.
Qatar’s FM market revenue to top $22.3bn
01 March 2022
Qatar’s facility management market is poised for significant growth over the next few years with its revenue likely to surge from an estimated $5.28 billion in 2021 to $22.3 billion by 2030, at a 17.3 per cent CAGR between 2021 and 2030, according to a report by P&S Intelligence.
The main reason for it would be the Qatar National Vision 2030, under which the government seeks to make the nation less reliant on the oil and gas industry. For this, infrastructure is being constructed on a massive scale to support other industries, which will, in time, drive the demand for facility maintenance, it stated.
Moreover, the country will host the 2022 Fifa World Cup, which is another key factor propelling construction and infrastructure development activities. The infrastructure, being constructed with a spending of more than $220 billion, will need to be maintained even after the event ends, creating a high requirement for facility management.
Among the key findings of the P&S Intelligence study since the lifting of the Covid-19 lockdowns, demand for cleaning services has surged sharply, as the focus of entities and individuals on general hygiene has increased manifold.
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