U.A.E. is one of the leading tourist hubs in the world, with Dubai and Abu Dhabi two of its most-prominent places of attraction. With an increase in the influx of tourists, growth in foreign direct investments (FDI), and rise in the gross domestic product (GDP), the U.A.E. government is working toward infrastructure development, to enable world-class hospitality for its guests. Comfortable and luxurious hotels and commercial complexes are being constructed to cater to the tourism industry. These units generate a high demand for services such as safety, security, disinfection, and environmental management, which come under the ambit of facility management.
A rise in the investments in the construction sector and substantial growth of the tourism industry will thus drive the growth of the U.A.E. facility management market. The market was valued at $14,949.9 million in 2019, and it is expected to register growth at a 9.3% CAGR during the forecast period of 2020–2030. At this rate of growth, the market is projected to reach around $34,959.4 million in revenue by 2030.
The built environment requires processes, technology, and people to come together for its longevity and smooth operations. The construction sector is flourishing in the U.A.E., and it is eventually leading to the rising demand for facility management services in this country. Innovative technologies, such as automated facility management software, building information modeling (BIM), and advanced heating, ventilation, and air conditioning (HVAC) systems, will see a surge in demand due to the need for an evolved management system in the construction sector.
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The construction sector of the U.A.E. is expected to remain upbeat in the coming time. As mentioned in a report by P&S Intelligence, around 4,000 construction ventures are underway in Dubai itself, with a total investment of $313.2 billion. Important endeavors in Dubai include the Dubai Metro Red Line extension, Royal Atlantis Resort, Container Terminal 4 at Jabel Ali Port, and huge residential complexes. After the completion of these units, there will be a demand for services and technologies to manage these facilities, which will prove beneficial for the U.A.E. facility management market advance.