FMTECH aims to drive sustainable growth within the local facilities management
sector, with a focus on driving cost-effective solutions and increasing the lifespan of
properties
• The company will offer its services to key industries that support the growth of the
local economy, including health institutions, industrial facilities, and entertainment
destinations among others.
RIYADH:
The Public Investment Fund (PIF) today announced theestablishment of the Saudi Facility Management Company (“FMTECH” or the “Company”).
The company will 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 increasingthe lifespan of properties within local real estate development projects in Saudi Arabia.
It will also provide advisory services leveraging advanced, industry-leading innovation, including a unified digital platform that collectsand utilizes facilities-related data.
Classification: External Confidential
The company will offer itsservicesto the facilities of key industriesthat support the growth of the local economy, including health institutions, industrial facilities, entertainment destinations, aviation facilities, educational institutions, residential and shopping complexes, and business centers.
The establishment of FMTECH is in line with PIF’s strategy to unlock the capabilities of promising sectors to supporteconomic diversification, improve sustainability,and localizetechnology and sector-specific knowledge, in Saudi Arabia.
Since 2017, PIF has established many companiesacross 13 strategic sectors,such as the National Security Services Company (SAFE) to develop and grow the private security sector in Saudi Arabia, and the Saudi Investment Recycling Company (SIRC), which supports and operates PIF’s investments in domestic recycling sector projects.
