PIF establishes Saudi Facility Management Company

Logo of Saudi Facility Management Company (FMTECH)

The Public Investment Fund (PIF) announced today, Aug. 10, the establishment of Saudi Facility Management Co. (FMTECH). The company will offer a comprehensive range of services, including utilities, energy, and waste management as well as 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, the fund said in an emailed statement to Argaam.

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 centers.

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 localize technology and sector-specific knowledge, in Saudi Arabia.