Saudi Arabia’s Facilities Management Market Poised for Explosive Growth
As the Dussmann Group inaugurated its regional headquarters in Riyadh, Hakan Lanfredi, an executive board member of the company, predicted that Saudi Arabia’s facilities management market will double in value by 2030.
Capitalizing on Vision 2030 Projects
Lanfredi estimated that the industry in the Kingdom is currently valued at $25 billion, but rapid growth is expected as Saudi Arabia continues to push forward with its Vision 2030 projects.
Riyadh Becoming a Hub for Multinational Businesses
Dussmann Group’s decision to relocate its headquarters from the UAE to Riyadh is part of a trend where many companies are choosing the Saudi capital as their Gulf base, attracted by incentives like zero percent corporate income tax for 30 years and the opportunity to bid for government contracts.
Expanding Presence in Saudi Arabia
The joint venture formed in 2020 between Dussmann Group and Saudi investment conglomerate Ajlan & Bros Holding has already seen significant growth, with plans to increase the number of employees from 4,000 to over 10,000 in the next few years.
German Ambassador Highlights Strong Business Relations
The German Ambassador to Saudi Arabia, Michael Kindsgrab, attended the ribbon-cutting ceremony of Dussmann Group’s new office in Riyadh and praised the company’s expansion as a positive development for German-Saudi business relations.
Seizing Market Opportunities in Saudi Arabia
With a focus on capturing a significant market share and becoming a prominent player in the sector, Dussmann Group and its partners are leveraging their expertise and global presence to capitalize on the booming facilities management market in Saudi Arabia.