The facility management market in the UAE is anticipated to grow at a compound annual growth rate (CAGR) of over nine per cent during 2016-2021, on account of the booming commercial sector and increasing number of residential projects in the country, a report said.

Moreover, the growing disposable income of the working population and rapid urbanisation are few of the other major factors fuelling the growth of the UAE facility management market, added the report entitled "UAE Facility Management Market By Service, By Application, Competition Forecast & Opportunities, 2011 - 2021" from TechSci Research, a research-based global management consulting firm.

Over the past few years, the UAE's economy has become closely aligned with its tourism industry - a sector that has enjoyed healthy growth. According to the World Travel and Tourism Council, the total contribution of travel and tourism sector in the UAE's gross domestic product (GDP) is projected to increase from 4.2 per cent in 2015 to 5.6 per cent by 2026.

Millions of visitors will be attending the upcoming World Expo 2020 to be held in Dubai. In order to present a good image of the country to the entire world, the government of the UAE is continuously upgrading its commercial as well as tourism sectors, thereby positively influencing the country's facility management market.

"With the growing trend toward sustainable development in the UAE, the companies are increasingly adopting green building management solutions, which also help in saving operational cost. The UAE Cabinet, under its Green Agenda 2015-2030, has developed the framework for the country's sustainable growth,” said Karan Chechi, research director with TechSci Research.

“In 2014, the government of  the UAE has planned to invest 0.27 per cent of its total GDP (gross domestic product) budget towards green initiatives during 2015-2030. Green building techniques are gaining traction in the country, and are opening new avenues for facility management professionals,” he said.

“The facility management providers offer skilled professionals with expertise in green building management techniques and solutions, thereby helping the organisation to meet their sustainable development goals,” he added.

The report has evaluated the future growth potential of the UAE facility management market and provides statistics and information on market size, structure and future market growth. It intends to provide cutting-edge market intelligence and help decision makers make sound investment evaluation.

Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in the UAE facility management market, it stated. – TradeArabia News Service