- The Saudi Public Investment Fund announced the establishment of the Saudi Facilities Management Company (FMTECH), which specializes in providing integrated services in the fields of facilities management, energy management, waste management, maintenance, cleaning services, security, and landscaping services. The company aims to enhance development sustainability and raise the efficiency of operations in the facilities management sector locally, by focusing on facilities management, which contributes to reducing costs and extending the life span of facilities for various real estate development projects in the Kingdom.
- The company will also work to provide advisory services by using the latest technologies in the sector, such as developing a unified digital platform for collecting data on facilities and working to benefit from them. It will also provide its diversified and specialized facilities management services to strategic and development sectors in the local economy, such as health institutions, industrial facilities, entertainment destinations, aviation facilities, and educational institutions, in addition to commercial complexes, business offices, residential neighborhoods, and others.
Why it matters
The establishment of “FMTECH” comes in line with the Fund’s strategy to launch and enable promising sectors, with the aim of supporting economic diversification, finding sustainable solutions, and working to localize technologies and transfer knowledge in the Kingdom. Since 2017, the fund has established many companies in 13 local strategic sectors, including the National Security Services Company (Saif) and the Saudi Investment Company for Recycling (SRIK).