Trascent, a global leader in corporate real estate (CRE) and facilities management advisory services, has joined forces with major Saudi investor Gulaid Holding to launch its new entity, Trascent Arabia, that will provide value-added and differentiated services focused on the kingdom’s facilities management (FM) industry.
The new venture will focus on three core service areas. These are:
*Management consulting services – Advising clients on how to structure FM contracts, develop service specifications and deploy best practices in commercial models;
*Contract execution and management – Providing a single point of contact for ensuring compliance performance across FM contracts and
*Program management – Overseeing key client initiatives, including energy efficiency and sustainability projects, ensuring their effective and timely implementation.
According to Trascent, the new venture will provide innovative solutions aligned with Saudi Vision 2030, which will focus on transforming the way FM services are delivered across the country and Gulf region.
Trascent is globally established for thought leadership and expertise in structuring and governing the delivery of best-in-class FM services, drawing from its experience in advising more than 20% of the Fortune 500 on outsourcing FM across diverse markets.
Complemented by Gulaid Holding's 15-year deep understanding of the Saudi market and local capabilities, Trascent Arabia aims to enhance FM service quality and efficiency through best practices in contracting and managing FM services, said the company in a statement.
The joint venture aims to address unmet market demands by offering cutting-edge advisory, contract management, and programme management services, it stated.
This comes at a time when the FM sector is booming in Saudi Arabia. As per a recent report by Fortune Business Insights, it is projected to hit $56.33 billion by 2032, growing at a compounded annual rate of 10.3% from 2023.
"Trascent Arabia will bring market-leading expertise in advanced contracting models for facilities management at a time where clients are seeking better and more innovative solutions in FM," said its CEO Rakesh Kishan,
"By combining Gulaid’s deep local knowledge with Trascent’s market leading capabilities, we are positioned to deliver world-class services that support the increasing demands of facilities management in Saudi Arabia. As the kingdom invests heavily in new cities, infrastructure, entertainment, and other investments, our services will enable clients to achieve FM excellence for residents, tourists, and businesses alike," he noted.
Naser Gulaid, Executive Chairman of Gulaid Holding, said: "For the past 15 years, we have been a leading investor in Saudi FM industry. With Vision 2030 raising the bar for excellence, Trascent Arabia will help to bridge the gap between current market capabilities and future demands."
"Our services will not only enhance operational efficiencies but also introduce technology-driven FM strategies that focus on customer experience, sustainability, and efficiency, perfectly aligning with the Kingdom’s vision for growth. Our clients want innovative, experience-led services, and that’s exactly what Trascent Arabia is bringing to the table," he stated.
With the kingdom undergoing a transformation for Vision 2030, the FM industry faces increasing pressure to move beyond traditional manpower-based services to more sophisticated, customer experience-led solutions, said Kishan.
Trascent Arabia will help clients achieve advanced FM services tailored to support key national mega projects, such as NEOM, Qiddiya, and the Red Sea Project, he added.-TradeArabia News Service