Saudi Arabia Property Management Market Research Report 2021-2026

Posted by arshiyashaikh on January 14th, 2022

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.

Browse our full report with Table of Contents: https://marketreportsonsaudiarabia.com/report/761157/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