PIF sets up Saudi Facility Management Company

Saudi Arabia’s Public Investment Fund (PIF) announced the establishment of the Saudi Facility Management Company (FMTECH).

August 23, 2023 IFM

PIF sets up Saudi Facility Management Company

Saudi Arabia’s Public Investment Fund (PIF) on Thursday announced the establishment of the Saudi Facility Management Company (FMTECH) to offer a comprehensive range of services, including utilities management, energy management, waste management, maintenance, housekeeping, security, and landscaping services.

FMTECH aims to drive sustainable growth and improve operational efficiency within the local facilities management sector, with a focus on driving cost-effective solutions and increasing the lifespan of properties within local real estate development projects in Saudi Arabia, said a PIF statement.

It will also provide advisory services leveraging advanced, industry-leading innovation, including a unified digital platform that collects and utilizes facilities-related data.

The company will offer its services to the facilities of key industries that support the growth of the local economy, including health institutions, industrial facilities, entertainment destinations, aviation facilities, educational institutions, residential and shopping complexes, and business centres.

The establishment of FMTECH is in line with PIF’s strategy to unlock the capabilities of promising sectors to support economic diversification, improve sustainability, and localise technology and sector-specific knowledge, in Saudi Arabia.

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