1
2015 – 2025
Published: December 2020
www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
www.techsciresearch.com
SAUDI ARABIA PROPERTY
MANAGEMENT MARKET-FORECAST &
OPPORTUNITIES
2017 – 2027
2
© TechSci Research
Table of Contents
2
S. No. Contents
1. Service Overview 2. Research Methodology 3. Executive Summary 4. Voice of Customer
4.1. Overall Brand Satisfaction Level
4.2. Brand Satisfaction Level wrt Availability
4.3. Brand Satisfaction Level wrt Mode of Distribution 4.4. Brand Satisfaction Level wrt Pricing
4.5. Brand Satisfaction Level wrt Sales Service 5. Saudi Arabia Facility Management Market Outlook 6. Saudi Arabia Property Management Market Outlook
6.1. Porter's Five force Analysis 6.2. Market Size & Forecast
6.2.1. By Value 6.3. Market Share & Forecast
6.3.1. By Component (Solution and Service) 6.3.2. By Deployment (Cloud and On Premises)
6.3.3. By End-User (Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors, and Others)
6.3.4. By Application (Commercial, Industrial, and Residential)
3
© TechSci Research
Table of Contents
3
S. No. Contents
6.3.5. By Region (Northern & Central, Southern, Eastern, and Western) 6.3.6. By Company (2021)
6.3. Market Map (By Component, By Deployment, By End-User, By Application and By Region) 7. Saudi Arabia Property Management Solutions Market Outlook
7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast
7.2.1.
By Component (Lease Accounting and Real Estate Management, Asset Maintenance Management, Workspace and Relocation Management, and Reservation
Management) 7.2.2. By Deployment 7.2.3. By End-User 7.2.4. By Application
8. Saudi Arabia Property Management Service Market Outlook 8.1. Market Size & Forecast
8.1.1. By Value 8.2. Market Share & Forecast
8.2.1. By Component (Hard Service and Soft Service) 8.2.2. By Deployment
8.2.3. By End-User 8.2.4. By Application
4
© TechSci Research
Table of Contents
4
S. No. Contents
9. Market Dynamics 9.1. Drivers 9.2. Challenges
10. Market Trends and Developments 11. Policy and Regulatory Landscape 12. Saudi Arabia Economic Profile
13. Impact of COVID-19 on Saudi Arabia Property Management Market 14. Company Profiles
14.1. Unified Asset & Property Management (UAPM) 14.2. Ray White International Kingdom of Saudi Arabia 14.3. Colliers International (Saudi Arabia)
14.4. Olaat Properties Management Company 14.5. Alandalus Property Company
14.6. Property Management and Development Company 14.7 SAB Constructions & Properties Company Limited 14.8. Al Khozama Management Company
14.9. BOUALVARD Facilities Management LLC 14.10. Takamul AlOula Facility Management 14.11. Jones Lang LaSalle Saudi Arabia Limited
5
© TechSci Research
Table of Contents
5
S. No. Contents
14.12. Century21 Saudi
14.13. In4 Velocity Systems Private Limited 14.14. PropertyNet (KnowledgeNet Group) 14.15. SolutionDots Systems Ltd.
14.16. Yardi Systems, Inc.
14.17. RMS Cloud
15. Strategic Recommendations 16. About Us & Disclaimer
Service Overview
7
© TechSci Research
Service Overview
Scope of Report: Property Management
Review Period 2017 – 2020
Base Year 2021 Estimated Year
2022 Forecast Period
2023 – 2027 Year Range COMPONENT
• Solution
• Service
REGION
• Western
• Eastern
• Northern & Central
• Southern END-USER
• Housing Associations
• Real Estate Agents
• Corporate Occupiers
• Property Investors
• Others
7 DEPLOYMENT
• Cloud
• On-Premises
APPLICATION
• Commercial
• Residential
• Industrial
Property management is the process of managing and supervising residential, commercial, and industrial properties, including shopping centers, apartments, and detached houses, among others. It also includes the management of personal property, tooling, equipment, and physical capital assets, which are acquired and used to build, repair, and maintain end item deliverables. Property management also involves administering the property owned by another party or entity.
SAUDI ARABIA PROPERTY
MANAGEMENT MARKET
8
© TechSci Research
Service Overview
Scope of Report: Property Management
8
• Solution: It includes all the solutions that real estate agents and property managers use to keep track of all the properties
they manage and all the maintenance work that needs to be done. It is inclusive of tools and software that support the
functionality, safety, and sustainability of buildings, infrastructure, and real estate. It also includes lease management,
including lease administration and accounting, capital project planning and management, occupancy and space management,
emergency management and business continuity, real estate management, and work order management. These solutions
help to maintain the resources while controlling time and costs to ensure the maximum efficiency of the process and related
facilities. These solutions can simplify property management by automating workflows with manual input. Also, they reduce
human errors and allow property managers to allocate work assignments efficiently to avoid interruptions in service.
• Service: Services include all the hard & soft services in property management. Hard Services include mechanical, electrical &
plumbing, building maintenance, lift & door maintenance, HVAC maintenance, etc. Soft Services include furniture &
equipment, vending machines, pest control etc.
Research Methodology
10
© TechSci Research
Research Methodology
10
✓ Identifying Key Opinion Leaders
✓ Questionnaire Design
✓ In-depth Interviews Data Collection Developing List
of Respondents Formulating
Questionnaire Market
Profiling
Data Validation
Data Analysis
In-depth secondary research was conducted to determine overall market size, segmental
market size and top players in the Saudi Arabia property management market.
In order to conduct industry experts’
interviews, TechSci formulated a detailed
discussion guide.
List of industry players and industry
specialists was developed.
TechSci conducted interviews with industry experts and
industry players for data collection and
verification.
Data obtained as a result of primary
and secondary research was validated through
rigorous triangulation.
The data was scrutinized using MS-Excel, statistical
tools and internal proprietary database to
obtain qualitative and quantitative insights about
Saudi Arabia property management market.
Data Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable Insights
Business Solution
Primary Research Desk Research Company Analysis
✓ Recent Developments
✓ Market Changing Aspects/Dynamics
✓ Government Policies
✓ Final Conclusion
✓ Market Participants
✓ Key Strengths
✓ TechSci Internal Database
✓ Factiva
✓ Hoovers Paid Sources
✓ Company Websites
✓ Company Annual Reports
✓ White Paper Study
✓ Financial Reports
✓ Investor Presentations
✓ Regulatory Body
✓ Associations, etc.
Secondary Research Primary Research
11
© TechSci Research
Research Methodology
11 Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of Saudi Arabia property management
market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors
such as sustainable smart city developments, growth in real estate sectors, government projects & initiatives and projected a
steady growth during the forecast period. The study includes market forecasting, which would enable our clients to take better
decisions while planning their strategy to achieve sustainability in Saudi Arabia property management market.
Methodology Followed for Calculation of Market Size:
Market Size by Value: Market size, in terms of value, for the year 2021 was calculated based on information collected through
exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as property
management service providers, industry experts, etc.
The team interviewed more than 20 companies, 50 industry experts and other value chain stakeholders in Saudi Arabia
property management market to obtain the overall market size during 2017-2021, which was validated by the Delphi technique.
Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2017-
2021.
12
© TechSci Research
Research Methodology
12 Respondents were asked about the current and future market growth rates, as well as market shares by component, by
deployment, by end-user, by application, by region and by company. Removing the outlier responses, the geometric mean of
growth estimates and service provider wise revenue shares generated across various segments were considered, to arrive at
the final revenue shares. Revenue shares generated across various segments were further triangulated based on the primary
interview response from other stakeholders.
Methodology Followed for Calculation of Market Shares:
Market shares by component, by deployment, by end-user, by application, by region and by company were calculated based on
the responses received through primary surveys with industry experts, in which the respondents were asked about the market
shares of the leading property management service providers. The final shares were calculated by taking the geometric mean
of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the
leading companies in Saudi Arabia property management market which was validated with the revenues reported by the
service providers specific to their property management segment in their annual reports, company websites and other
secondary sources.
Note: (a): Sum of some shares may not be 100% due to round off till two decimal places.
(b) The market data for 2021 is actual only for 9 months (till Sep 2021), for rest 3 months (October 2021- Dec 2021), the data is estimated as the financials of few companies for full year 2021 have not disclosed yet.
13
© TechSci Research
Research Methodology
13 Methodology Followed for Forecasting:
TechSci Research performed logical checks on the data collected through surveys and analyzed the results. Data triangulation
techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Saudi Arabia
property management market. TechSci Research used various forecast techniques such as:
o Moving Average o Time Series Analysis o Regression Analysis
o Econometric and Judgmental Analysis
TechSci Research used its own forecast tool, which is based on the growth of various allied industries in Saudi Arabia. TechSci Research also used impact analysis during short, medium and long term period to estimate and analyze market demand scenario.
Partial List of Companies Interviewed
Unified Asset & Property Management, Ray White International Kingdom of Saudi Arabia, Colliers International (Saudi Arabia), Olaat Properties Management Company, Property Management and Development Company, Alandalus Property Company, SAB Constructions &
Properties Company Limited, Al Khozama Management Company, Century21 Saudi among others
Partial List of Secondary Sources
Some of the specific secondary sources referred during report production are Ministry of Municipal & Rural Affairs & Housing, Saudi Arabia Authority of Statistics, Saudi Contractor Authority, Middle East Facility Management Association, MEED Projects, etc.
Other secondary sources referred are Company Websites, Company Annual Reports, White Paper Study, Financial Reports, Investor Presentations, Regulatory Body, Associations, TechSci Research Proprietary Database &, Knowledge Repository. Other secondary macroeconomic factors considered are GDP, population etc. from World Bank, IMF, etc.
14
© TechSci Research
Industry Brief
14 Demand for property management services in commercial buildings is driving the growth of the Saudi Arabia property management Market, in the forecast
period, 2023-2027.
According to TechSci report on,“Saudi Arabia Property Management Market - By Region, Competition Forecast & Opportunities, 2027”, Saudi Arabia property management market is anticipated to grow during the forecast period, 2023F-2027F, with a CAGR of 7.02% and achieve market value of USD13.26 billion by 2027F. Rising demand for advanced technology for operation, control, maintenance, and oversight of real estate in property management are anticipated to drive the growth of the Saudi Arabia property management market in the upcoming five years. Expanding real estate sector through increasing construction of residential complexes, corporate offices, and commercial buildings, along with the growing industrial construction like factories and other manufacturing units, further supports the growth of the Saudi Arabia property management market in the next five years. Due to Saudi Vision 2030, rapidly increasing infrastructure investment to advance the healthcare, education, recreation, tourism industries etc. is also aiding the growth of the Saudi Arabia property management market.
The country is evolving from simply an oil-based country to a digital economy, which is further substantiating the growth of the Saudi Arabia property management market in the forecast years, through 2027. Moreover, the government is working towards developing smart and sustainable cities to protect environment and maintain a perfect balance between economic and social development. Such projects utilize automation and modern data-driven technology for providing property management services and therefore further drives the growth of the Saudi Arabia property management market in the forecast period.
The Saudi Arabia property management market segmentation is based on component, deployment, end user, application, regional distribution, and competitional landscape. Based on deployment, the market is divided into cloud and on premises. On premises deployment of the property management services is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of increasing demand for day-to-day repairs and ongoing maintenance and security. Increasing investment from the government towards smart city construction also supports the growth of the Saudi Arabia property management market in the next five years. Cloud based deployment of property management services is also anticipated to register fastest growth in the forecast period due to growing adoption of cloud services by midsize and large organizations to store the data with high security. Increasing outsourcing of property management and related services to focus on core business and improve performance further facilitates the growth of the cloud-based services in the market.
Based on end user, the market is further segmented into corporate occupiers, real estate agents, housing associations, property investors, and others that include property managers, third party agents, etc. Corporate occupiers are anticipated to hold the largest revenue shares of the market and dominate the market segment in the next five years on grounds of increasing corporate complexes in the country. Advancing technology for the management of the construction and related data also aids to the growth of the segment.
A partial list of major market players of the Saudi Arabia property management market includes Unified Asset & Property Management (UAPM), Ray White International Kingdom of Saudi Arabia, Colliers International (Saudi Arabia), Olaat Properties Management Company, Alandalus Property Company, Property Management and Development Company, SAB Constructions & Properties Company Limited, Al Khozama Management Company, Boualvard Facilities Management LLC, Takamul AlOula Facility Management, Jones Lang LaSalle Saudi Arabia Limited, Century21 Saudi, In4 Velocity Systems Private Limited, PropertyNet (KnowledgeNet Group), SolutionDots Systems Ltd., Yardi Systems, Inc., RMS Cloud
“Northern & central region of the kingdom of Saudi Arabia is expected to dominate the market with the largest revenue shares in the upcoming five years on account of highest population count in the region. Growing population further demands for the higher construction of residential buildings, corporate complexes, etc. thus aiding the growth of the market in the future five years. Rapidly increasing investment and development of the smart cities in the region along with the increased tourism activities are expected to substantiate the growth of the Saudi Arabia property management market in the forecast years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
15
© TechSci Research
Sample Data - Snapshot
15
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Value (USD Billion)
Saudi Arabia Facility Management Market Size, By Value (USD Billion), 2017-2027F CAGR 2017-2021
By Value: xx%
CAGR 2022E-2027F By Value: xx%
Saudi Arabia Property Management Market Share, By Component, By Value, 2017-2027F
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Solution 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Service 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%
Saudi Arabia Property Management Solutions Market Share, By End-User, By Value, 2017-2027F
2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F
Corporate Occupiers 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
Real Estate Agents 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Housing Associations 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Property Investors 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Others 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00%
16
© TechSci Research
Report Ordering
16
Report Name: SAUDI ARABIA PROPERTY MANAGEMENT MARKET FORECAST & OPPORTUNITIES
2017 – 2027
To View Sample OR Purchase Report
License Type Price
Single User License $3500
Multi-User License $4500
Custom Research License $7500
About Us & Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’
model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.
Related Reports
• Brazil Facility Management Market By Service (Property, Cleaning, Catering, Security, Support & Others), By Type (Hard, Soft & Others), By Application (Residential, Commercial & Industrial), By Source (Outsource & Inhouse), By Industry (Organized & Unorganized), Competition, Forecast & Opportunities, 2027
• Canada Facility Management Market By Services (Property, Cleaning, Security, Catering, Support, Others), By Type (Hard, Soft), By Application (Industrial, Commercial, Residential), By Outsource Vs Insource, By Organized Vs Unorganized, By Region, Competition Forecast & Opportunities, 2027
• Saudi Arabia Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By End User (Commercial, Industrial &
Residential), By Region Competition Forecast & Opportunities, 2027
•
•
•
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
TechSci Research – North America 708 Third Avenue, Manhattan,
New York, United States Tel: +1- 646- 360- 1656 Email: [email protected]
www.techsciresearch.com Disclaimer
TechSci Research – Europe 54, Old brook, Bretton,
Peterborough, United Kingdom
Email: [email protected] www.techsciresearch.com
TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital
Region, U.P. - India Tel: +91-120-4523900 Email: [email protected]
www.techsciresearch.com
