Oman Facility Management Market Growth, Trends, Forecasts Report 2020-2025 - ResearchAndMarkets.com

  DUBLIN--(BUSINESS WIRE)--The "Oman Facility Management Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.


The Oman facility management market (henceforth, referred to as the market studied or Oman FM market) was valued at USD 403.51 million in 2019, and it is expected to reach USD 746.31 million by 2025, registering a CAGR of 13.52%, during the period of 2020-2025.


Facility management consists of a wide range of solutions and services to influence enterprises' efficiency and productivity. Conforming with the industry standards, certifications, the new management system establishes a benchmark for driving effective facility management principles across Oman.


ISO 41001 is an international standard for a facility management system. It offers a framework to implement, develop, and maintain the ideal benchmark of effective facilities management across industry sectors worldwide. Therefore, a Facility Management Standard that sets apart the industry by adopting global best practices and policies has offered a win-win situation for FM organization and customers in this country.


Facility Management Services across Muscat, Bawshar, Salalah, Al Rusayl depicts a growing sector. With the rising infrastructure development projects across Oman for economic growth, the facility management services are also required to a considerable extent.


Oman has drafted its Vision 2040 to boost future developments in the country. The knowledge-based population and societies will empower the future vision of the country. With the help of industrial growth, the country wishes to join with the developed countries across the world. With the help of building smart and sustainable cities, technologically-advanced infrastructure facilities, the country aims to be a pioneer in the Middle East region.


The COVID-19 pandemic has significantly affected businesses and operations across potential sectors globally. Though, on an opportunity side, the COVID-19 pandemic has resulted in an increasing demand for a specific range of soft FM services in the Middle East countries. The recent statistics provided by the Middle East Facility Management Association (MEFMA) report, cleaning, sanitization, and disinfection services have witnessed an increase of 95% in the Middle East region.


Key Market Trends


Construction Activities to Hold Significant Market Share


The country has observed a significant number of construction projects in the past few years. With a forward outlook towards foreign investments and commercial service players' growth, the country has observed a significant number of construction projects in the past few years.

For instance, in September 2020, Madayn, the public establishment for industrial sectors, had announced that it recently started working on implementing quite a few projects at Nizwa Industrial City. This will include the expansion of Phases III and IV, on an area of approximately 1 million sqm, and employing a second entrance to the industrial city. Furthermore, several investment opportunities have been revealed months back for investors, precisely those related to residential and commercial services.

The entire investment volume of Nizwa Industrial City has reached USD 956 million during the H1 of 2020, marking a growth rate of 1.13% in comparison with the same period last year (2019).

In May 2020, Madayn inked a memorandum of cooperation with Oman-based Petroleum Development Oman (PDO) to build an industrial city within the Marmul industrial and logistics complex. With the agreement's help, Madayn is further expected to finance, develop, and attract investments to the proposed industrial city, located 800 km from the capital Muscat.

In November 2020, Al Maha Petroleum Products Marketing Company has awarded a long-term PDO contract to construct the retail filling stations. The contract order has been awarded for 15 years, starting from August 23, 2020, to August 22, 2035. The company also has an option to extend it for five more years till August 22, 2040.

Competitive Landscape


The Oman FM market is moderately fragmented with both local and international players possessing significant years of industry experience and the intensity of the competitive rivalry is high. The companies keep on innovating and enter into strategic partnerships in order to retain their market share.

source - https://www.businesswire.com/news/home/20210702005151/en/Oman-Facility-Management-Market-Growth-Trends-Forecasts-Report-2020-2025---ResearchAndMarkets.com

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