Saudi Arabia’s PIF sets up new facility management company
Saudi Arabia’s Public Investment Fund (PIF) is setting up a company to offer services such as utilities, energy and waste management as well as maintenance, housekeeping, security, and landscaping services to key industries that support the growth of the Saudi economy.In a statement, PIF said that Saudi Facility Management Company (FMTECH) will provide advisory services that utilize advanced, industry-leading innovation, including a unified digital platform that collects and utilizes facilities-related data.
Saudi Facility Management Company (FMTECH) will also provide advisory services by leveraging industry leading innovation, including a unified digital platform that collects and uses facility data; PIF has declared in a communiqué.
The company will offer its services to the health institutions, industrial facilities, entertainment destinations, aviation facilities, educational institutions, residential and shopping complexes, and business centers.
PIF has launched several firms in 13 key sectors since 2017. For example, SAFE develops and expands the private security sector in Saudi Arabia, while SIRC operates and supports PIF’s domestic recycling sector projects.
