Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Property Management Market, By Component (Solution and Service), By Deployment (Cloud and On Premises), By End User (Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors, Others), By Application (Commercial, Industrial, Residential), By Region, Competition Forecast & Opportunities, 2016-2026”under Services Market Research Reports category. The Property Management in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Property Management Market stood at USD7.96 billion in 2020 and is forecast to grow at a CAGR of over 7.88% until 2026. Growth in the property management market is driven by growth in the real estate sector, sustainable smart cities deployment and increased demand for improved facility services. Furthermore, the property management industry is benefiting from sustainable smart city projects by implementing automation and enhanced data-driven technologies. Additionally, integration of innovation, technology and upskilling in facility services is expected to positively influence the Saudi Arabia property management market in the coming years.
Based on deployment, the market is segmented into cloud and on-premises. Cloud deployment is the fastest-growing segment in the Saudi Arabia property management market and is projected to grow in the coming years with a CAGR of over 9.69% from 2021-2026. This is due to the increasing inclination towards the adoption of cloud services by midsize and large organizations to store the data with high security. Cloud services in the deployment segment are increasing at a fast pace on the account of rising adoption of cloud services for the various end-users, including housing associations, real estate agents, corporate occupiers, and property investors.
Based on application, the market is segmented into commercial, industrial, and residential. The commercial segment was the largest contributing segment by application in 2020 and the commercial sector accounted for a revenue share of 41.17% in Saudi Arabia property management market in 2020, and it is forecast to grow at a CAGR of 8.08% from 2021 to 2026. This is due to the rising demand from hotels, retail outlets, malls, and office buildings in the country, particularly in Riyadh and Jeddah. Moreover, due to the COVID-19 pandemic, people are becoming more cautious about cleaning and sanitization in public areas, leading to the high demand for property management.|
Based on region, Northern & Central held the largest share in Saudi Arabia property management market in 2020. The Northern & Central regions of Saudi Arabia accounted for the largest share of 28.65% in the Saudi Arabia property management market owing to huge population growth, and rising investments in the commercial & housing sector. Furthermore, tourism activities in these regions are expected to contribute to the growth in the hotel industry, thereby creating ample demand for property management services in the coming years. Moreover, there are several mega projects undergoing in the northern & central regions that include smart city projects Neom, among others which are expected to boost the property management market in these regions.
Some of the major players in the Saudi Arabia property management market include Unified Asset & Property Management (UAPM), Ray White Kingdom of Saudi Arabia (KSA), Colliers International (Saudi Arabia), Olaat Properties Management Company, Alandalus Property Company, Property Management and Deployment Company, SAB Constructions & Properties Company Limited, Al Khozama Management Company, BOUALVARD Facilities Management LLC, among others.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
•The primary objective of the study is to understand and gain insights about Saudi Arabia Property Management Market by value and its segmental analysis by deployment, by end user, by application, by region from 2016-2026.
•To analyze historical growth in market size of Saudi Arabia Property Management Market from 2016 to 2020.
•To estimate and forecast the market size of Saudi Arabia Property Management Market from 2021 to 2026 and growth rate until 2026.
•To project the size of Saudi Arabia Property Management Market, in terms of End User, Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors and others
•To understand the regional market structure of Saudi Arabia Property Management Market, which is segmented into regions, namely – Northern & Central, Southern, Eastern and Western.
•To identify the detailed information about the prime factors affecting the Saudi Arabia Property Management Market.
•To examine competitive deployments such as new services, new entrants, government policy and investments in the Saudi Arabia Property Management market.
•To strategically profile the leading players in the market which are involved in Property Management in Saudi Arabia.
To analyze and forecast Saudi Arabia Property Management Market, both top-down and bottom-up approaches have been used. Multiple employees from the leading companies have been interviewed through telephonic conversations to extract and verify the information being collected at the source. A brief study of the major players operating in Saudi Arabia Property Management Market was also undertaken. Moreover, a detailed and in-depth scrutiny of information was done to understand each policy and external or internal factor which could increase or decrease the demand for Property management in Saudi Arabia. To extract data, primary surveys were conducted with key players and stakeholders in the industry. The future of major players was studied and projects which have commissioned in the country were identified.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by our company.
Key Target Audience:
•Property Management service providers and other stakeholders.
•Major end users of Property Management services in industrial, commercial and residential segments.
•Organizations, forums and alliances related to Property Management market.
•Government bodies such as regulating authorities and policy makers.
•Market research and consulting firms.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Property management companies, service providers, customers, policy makers and which market segments should be targeted over the coming years (next two to five years) in order to strategize investments and capitalize on the growth of the market.
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