JEDDAH: Approximately 125 global companies in security services are providing solutions to the Saudi business sector in the light of the growing demand for security, safety services and protection from fires.
“Saudi budgetary allocations for security across municipal, health, infrastructural, transport and construction sectors are increasing. This is why the world’s companies are targeting the Saudi market,” Mowfaq Alharithi, chairman of Alharithi Exhibition Company, said: “This is why there are many discussions being had these days between local Saudi investors and global companies,” he added.
The volume of expenditure on these products in the world business sector is expected to reach $15 billion by 2018, according to the US Homeland Research Group. Saudi Arabia, he said, will hold a specialized exhibit in security services in May with the participation of companies from 25 countries.
Ahmad Powlis, CEO of Messe Frankfurt Middle East, said that the Kingdom is considered one of the major growth markets for security services, including its safety infrastructure protection as well as commercial and petrochemical activities.
He said there is a lot of demand from various Saudi sectors on security and technical products which will benefit banks, hospitals, industrial sites and much more, offering solutions for entry monitoring with cameras, among other things. He said that Messe Frankfurt Middle East seeks to increase its market share in Saudi Arabia.
The Interior Ministry has also called for the redevelopment of its protection systems to safeguard its development. Statistics show that the number of workers in security guard companies already surpassed 12,000.
Internal regulations for the Interior Ministry states that security guards must be of Saudi nationality and must work for 8-hour a day, according to Article 148 of the Labor Law with contracts to register them in social insurance.
The security guards in the Kingdom are seen as some of the most dynamic security personnel in the world, offering their services at companies, markets, malls, offices, NGOs and housing complexes. Indeed, the demand for them is growing by 40 percent every year due to terror attacks in Saudi cities.
The Saudi security services market sector has a value of $2.6 billion, and caters to 60 percent of the demand from the government sector, according to Asharq Alawsat.