Industry Brief 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. © TechSci Research 1414