Riyadh, Saudi Arabia — October 7, 2024 — Trascent, a global leader in facilities management advisory services, and Gulaid Holding, a renowned investor within Saudi Arabia’s facilities management sector, have joined forces to launch Trascent Arabia, a joint venture designed to provide value added and differentiated services focused on the Kingdom’s facilities management (FM) industry. The new entity 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 Trascent’s 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. The joint venture aims to address unmet market demands by offering cutting-edge advisory, contract management, and program management services.
Rakesh Kishan, Chief Executive Officer of Trascent Arabia and Managing Principal of Trascent, explained, “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. 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.”
According to a recent report by Fortune Business Insights, the FM sector in Saudi Arabia is projected to reach US$56.33 billion by 2032, growing at a compounded annual rate of 10.3% from 2023. 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. 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.
Naser Gulaid, Executive Chairman of Gulaid Holding, added, “For the past 15 years, Gulaid Holding has been a leading investor in Saudi Arabia’s 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.”
Trascent Arabia will focus on three core service areas: 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.
The joint venture aims to position Trascent Arabia as a key FM resource to clients in Saudi Arabia. Trascent Arabia will be led by an experienced executive team with deep knowledge of local dynamics and global FM best practices.
For more information about Trascent Arabia, visit https://trascent.com/trascent-arabia or contact [email protected].
