Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of the Saudi Facility Management Company, also known as FMTECH.
The new company is set to redefine the landscape of facility management services in the kingdom.
FMTECH, as the newly announced company is colloquially referred to, is poised to provide a comprehensive suite of services encompassing utilities management, energy management, waste management, maintenance, housekeeping, security, and landscaping services.
This multifaceted approach aims to holistically address the intricate requirements of various sectors.
The primary objective of FMTECH is to spearhead sustainable growth within the local facilities management sector.
By streamlining processes, the company seeks to bolster operational efficiency while simultaneously emphasising cost-effective solutions.
The intention is also to extend the lifespan of properties within local real estate development projects across Saudi Arabia.
One of FMTECH’s standout features is its emphasis on cutting-edge innovation. The company plans to offer advisory services that leverage advanced technological solutions, thereby propelling the sector forward.
A key highlight is the integration of a unified digital platform designed to gather and harness data related to facility management, thereby optimising decision-making processes.
The scope of FMTECH’s services extends to pivotal industries that underpin the nation’s economic growth.
This encompasses health institutions, industrial facilities, entertainment destinations, aviation facilities, educational institutions, residential and commercial complexes, as well as business centres.
The breadth of their target industries underscores the company’s commitment to contribute to diverse sectors.
The inception of FMTECH is intrinsically tied to PIF’s overarching strategy. The move aligns with PIF’s concerted effort to unlock the latent potential within promising sectors, fostering economic diversification.
Moreover, the establishment of FMTECH underscores the wider ambition to cultivate sustainability and domestic technological expertise within Saudi Arabia.
Since 2017, PIF has played a pivotal role in catalysing growth across 13 strategic sectors. Notable among these ventures is the National Security Services Company (SAFE), which has been instrumental in cultivating the private security sector in the nation.
In addition, the Saudi Investment Recycling Company (SIRC), another initiative by PIF, has effectively supported and managed investments in domestic recycling sector projects.
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