DOHA: The Facility Management (FM) sector in Qatar is projected to generate a revenue of $7.2bn (26.22bn) this year, according to a report by Prescient & Strategic Intelligence. The data indicates that the market is poised to grow by 18.6 percent compound annual growth rate (CAGR) from 2024 until 2030.

Market experts note that the sector is augmented primarily by the growth of industries such as surging infrastructure enhancements, the increasing number of tourists in the country, the introduction of freehold properties in Qatar, the national strategic vision 2030, and rising private sector firms.

The country has already established numerous top-notch infrastructures in the green building industry, developing various world-class structures. However, the facilities management sector would require green buildings in order to control air quality, energy, and water consumption in addition to efficient waste disposal. The report said: “Each of these parameters is measured and monitored to achieve an efficiency level that benefits occupants and owners in the long run.”

Analysts highlighted a few examples of green practices such as energy-efficient HVAC systems, water-saving plumbing fixtures, solar and wind power, high-efficiency, lighting systems, the latest energy management controls, and waste recycling.

On the other hand, the low functioning and development costs, enhanced durability, and more beneficial indoor conditions are sustainable solutions for green buildings that have witnessed and eventuated the boost of the market in Qatar.

Researchers accentuate that the government is at the forefront of developing several infrastructure projects aimed at boosting the economy.

During its 2021 budget, the Municipality and Environment in Qatar assigned QR25.4bn to enhance the electricity and water networks in addition to various other key projects. The budget was also passed to enhance the maintenance and expansion of roads in the country.

Experts also remark that industrialisation has fostered the growth of infrastructural development in Qatar. In 2010, Manateq – Economic Zones Company invested QR10bn towards developing basic infrastructure facilities in industrial zones.

With diverse projects, Qatar is leading the race toward stronger infrastructures in the region as the country’s public works authority, Ashghal implemented over 20 new projects worth QR4.1bn last year.

By partnering with various authorities, the country has also invested an estimated amount of $302.1m (QR1.1bn) in the realms of construction and real estate.

Notably, the freehold properties have been an added asset driving the growth of the sector. In 2020, the government allowed residents and non-citizens to own properties in the country including shops, offices, villas, and units in residential facilities, and take part in the realty developments in particular areas.

This move is assertive to drive the flow of investments in the country and propel the demand of the facilities market.