Market Trends of Thailand Facility Management Industry
In-house Facility Management to Witness Major Growth
- In-house facility management services, overseen by dedicated client-employed resources, are gaining traction in Thailand. These managers are increasingly tasked with overseeing critical business areas, from high-traffic zones to executive conference rooms. Moreover, in-house management offers specialized training and certifications, often absent in standard packages from partner organizations.
- In-house facility management emphasizes the recruitment of specialized personnel to oversee diverse facility functions. For instance, cybersecurity measures are frequently managed internally, underscoring the importance of safeguarding facility integrity.
- Thailand is one of Asia's most vibrant markets, with a rapidly evolving economy that shows consistent growth. The nation's resilient real estate sector, bolstered by robust financing services, attractive capitalization, and a pro-business environment, all fuel the demand for top-tier in-house facility management solutions.
- The transition of Thailand from a low-income to an upper-middle-income nation supports its economic growth and practical poverty alleviation efforts, which have increased the construction sector. In July 2024, the Office of the National Economic and Social Development Council (NESDC) of Thailand highlighted a consistent growth in GDP contributions from In-house facility management.
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Commercial Sector to be the Largest End User
- As commercial facilities proliferate in Bangkok and throughout Thailand, the demand for services like property accounting, rental management, contract oversight, and procurement has surged. In response, FM providers nationwide focus on delivering a suite of services to the commercial sector, including inspections, maintenance, HVAC, electrical services, and control management.
- Commercial entities encompass office buildings utilized by diverse business services, including IT and communication firms, manufacturers, and other service providers. The emphasis on essential fitments, interior decoration, and management in these commercial spaces has significantly bolstered the country's commercial sector market.
- Given the myriad services required in commercial spaces—from property accounting and contract management to procurement and renting—there's a pronounced need for professional expertise. Such dynamics underscore the commercial category's growth potential, a trend poised to persist during the forecast period.
- Factors such as increased economic activity, consumer spending, and tourism activities have increased the occupancy of large residential layouts or projects, hotels, and commercial spaces. This has, in turn, increased the need for better management of the facilities.
- In 2023, Thailand issued over 6,000 permits for commercial building development, marking the highest number in the past five years. According to Thai law, builders must secure a land and development permit from local municipalities before constructing, modifying, or demolishing any buildings.
