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Saudi Arabia’s PIF launches new facilities management firm

The company aims to lead operational services in Saudi Arabia.

Saudi Arabia’s PIF launches new facilities management firm
[Source photo: Anvita Gupta/Fast Company Middle East]

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Saudi Arabia’s Public Investment Fund (PIF) has announced the Saudi Facility Management Company, also known as FMTECH. This company will offer various services, including utility management, energy management, waste management, maintenance, housekeeping, security, and landscaping.

In addition to these services, FMTECH aims to promote sustainable growth in the facilities management sector of the Kingdom. The company also plans to extend the lifespan of properties in local real estate development projects throughout Saudi Arabia.

FMTECH’s services cater to various industries, including health institutions, industrial facilities, entertainment destinations, aviation facilities, educational institutions, residential and commercial complexes, as well as business centers.

FMTECH aims to leverage advanced innovation and technology to offer solutions. One such feature is the incorporation of a unified digital platform that will collect facility management data, streamlining the decision-making process.

The new facility management company seeks to enhance operational efficiency and provide cost-effective solutions by streamlining processes.

The establishment of FMTECH is in line with PIF’s strategy to ensure potential growth in 13 key sectors and promote economic diversification. Within these 13 priority sectors, PIF has founded 84 companies since 2017.

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