Increasing Infrastructural Developments and Growing Retail Sector to Foster Bahrain Facility Management Market Future Growth: Ken Research
Posted on 26 July 2017 by KenResearch Manufacturing And Construction,
- Facilities management market in Bahrain is expected to gain high revenue in the future due to the developments in public and private infrastructure projects.
- Rising demand for facilities services due to the expansion in the retail and commercial sector is expected to assist market in growing its revenue.
- Growing mergers and acquisitions in the space are anticipated to be among the major factors driving the facilities management market in Bahrain.
Bahrain FM Market has grown at a significant pace over the years, owing to augmented demand for both hard and soft services by all sectors of the country. This has given a boost to the revenues of existing market players. The growing market has also opened up opportunities for new entrants in the space, wherein smaller players are often considered important revenue generators for outsourced services. Increasing number of infrastructural projects in both government and private sector of Bahrain is the major reason behind the continuous growth of facilities management market in the country.
Setting up of new shopping malls and retail outlets in the Kingdom has boosted the demand for both hard and soft services offered by the facilities management market players. Numbers of projects which are expected to drive the retail sector in the country typically include the establishment of Villamar project, the residential development which will be a mixture of 5-star hotels, residential units as well as restaurants, shopping malls and cafés. The trend of expanding retail stores in the country continues to impact the facilities management market in a positive manner, wherein future growth is anticipated with the opening up of Galleria Mall set up across 42,000 m. sq. and also includes a 12,800 m. sq. hypermarket extending over two floors.
The initiative taken by the government to allocate USD 2.7 billion in 2016 budget for special infrastructure projects is expected to raise the demand for facility management market players by the developers in the country. The projects include a new bridge to connect the Northern Governorate to Manama, flyovers, new hospitals, clinics, housing projects, and new roads.
Ken Research announced its latest publication on “Bahrain Facilities Management Market Outlook to 2021 - Growth in Retail Sector and Demand for Hard Services to Drive Market Growth” suggested a rapid growth in Bahrain Facilities Management, market majorly driven by expanding real estate and construction industry in the country. Technological advancements and the growth of retail sector are attracting large number of companies to opt for facilities services in Bahrain.
Ankur Gupta, Head Marketing & Communications