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Dubai 2019 Retail Calendar features 50% rise in events

The Department of Economic Development (DED) and Dubai Festivals and Retail Establishment (DFRE), have jointly announced the 2019 Retail Calendar showcasing 18 events over 247 days, versus 12 events over 178 days in 2018.

Featuring even more city-wide events, activations and experiences throughout 2019, the calendar is strategically catered to provide active stimulus to resident and tourist consumer spend on shopping throughout the forthcoming year.

Additionally, aimed at prioritising wider and inclusive sector participation thereby extending the economic benefits of the initiative to a wider base, the 2019 Retail Calendar offers a reduction in fees for all small and medium enterprises to enable dynamic adaptation to the ongoing disruptions impacting retail, whilst retaining competitiveness in the global environment.

The Retail Calendar is reflective of strong and successful collaboration between both government departments (DED and DFRE), and the private sector, developed with significant input from 18 major retail and mall groups in Dubai, to create relevant activations that highlight the diversity and competitiveness of Dubai’s retail value proposition through a series of festivals and events suitably synchronised with the global and domestic retail and fashion cycles.

The year-long Retail Calendar will assure Dubai’s continued international standing as a must-visit shopping destination, enabling growth of the Dh128.45 billion ($35 billion) sector that is projected to grow a further 5.6 per cent from 2018, to reach Dh160.7 billion ($43.7 billion) by 2021.

The 2019 initiative, now in its third year of operations, will play a particularly crucial role in (i) ensuring acceleration across Dubai’s retail economy; (ii) supporting greater SME contribution; and (iii) enabling boost profitability with an increase in spend from both residents and tourists, propelled by a tactical schedule of sales and promotional shopping campaigns.

As a key pillar in Dubai’s destination offering, the health and sustained development of Dubai’s retail sector has a consequential impact on tourist experience and attraction, in addition to the direct economic contribution of the sector itself. Considerable progress has been made since the inception of the Retail Calendar in 2016-2017 to deliver critically enabling regulations, core infrastructure projects, and city-wide service enhancements, fine-tuned to meet market and segment priorities across tourist points of interaction with destination retail.

Through 2018, the number of international brands available in Dubai has continued to rise as has the portfolio of retail outlets and experience options, addressing a wider and more globally connected consumer, ultimately increasing the attractiveness of the emirate as a shopping destination.

Sami Al Qamzi, director general, Department of Economic Development (DED) commented: “The retail sector is a key contributor to Dubai’s thriving economy and makes up a considerable volume of the emirate’s GDP. We are committed to consolidating efforts across Dubai to offer exceptional and high quality experiences in terms of infrastructure, initiatives and incentives in collaboration with the public and private sector, to continue to boost the retail industry. The DED, in collaboration with Dubai Tourism, will continue to build on Dubai’s already successful position as a favourable shopping destination, and provide fledgling SMEs with the opportunity to grow their companies here within the emirate.”

“It is our key priority to enhance greater competitiveness of the retail industry in Dubai, while ensuring a healthy bottom line for all participants to sustain growth. Combining retail with events and promotions has allowed us to streamline various activations across the year, to accelerate the success of Dubai’s retail model, whilst allowing us to collectively focus on increasing the GDP contribution of the sector to Dubai.”

Helal Almarri, director general of the Dubai Department of Tourism and Commerce Marketing (Dubai Tourism) said: “Dubai has been continually growing as a leader in global travel, with the highest average spend per tourist and ranked fourth most visited city in the world, according to the latest MasterCard surveys.

“As one of the core pillars of our destination offering, the retail sector is a high priority for Dubai Tourism – in addition to increasing the number of international visitors to the emirate, we are also focused on significantly enhancing the economic value created (across all travel related industries) to our GDP. The strategic revisions made to the 2019 Retail Calendar mark a significant investment from Dubai Tourism to further enhance the wider domestic economy, and represent our continued commitment to making Dubai a leading retail destination and increasing overall spend per visitor.

“We’ve already seen great success with events such as Chinese New Year and Diwali, aimed at two of our top source markets and building on this, we’ve added ‘Russian Holiday’ during Dubai Shopping Festival in January 2019 timed with their peak travel to leverage growing Russian traffic to Dubai and their affinity for shopping.

“Our strong continued collaboration with DED and the industry, has been a critical enabler to the creation of this strategically aligned programme for 2019, that will strengthen the foundations for even greater acceleration towards 2022 and beyond, particularly in attracting more shopping enthusiasts to spend more within our economy,” he added.

The 2019 edition is set to launch on December 26, 2018, the opening day of the Dubai Shopping Festival which this year has been extended for a further full week based on feedback from retailers. The 2019 Retail Calendar will showcase the annual schedule of anchor retail activities being conducted and promoted at a city-level including shopping-related festivals, promotions and seasonal offer periods, mega-sales and clearance events and exclusive retail experiences and activations.

Included in the 2019 Retail Calendar will be the following festivals and events: Dubai Shopping Festival, Russian Holidays, Dubai Shopping Festival Final Sale, Chinese New Year, Dubai Food Festival, Spring/Summer ‘19 Collection Launch, Home Festival, Ramadan in Dubai, Eid in Dubai (x2), Dubai Summer Surprises, Dubai Summer Surprises Final Sale, Back to School Season, Fall/Winter ‘19 Collection Launch, Diwali, Dubai Fitness Challenge, 3-Day Super Sale (x2) and Gifting Weekend.

The 2019 Retail Calendar has been developed in close partnership with 18 major retail partners who continue to contribute to the growth of the sector and the GDP of Dubai.

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), an agency of Dubai Tourism, said: “We are constantly looking for ways in which to support and promote the retail sector within Dubai; from large retailers and mega global brands, to the smaller high-potential SME segment. Following detailed analyses and close coordination with our strategic retail partners, we have introduced noteworthy changes to the new Retail Calendar, and are confident in its ability to impact continued positive and sustained sector growth across Dubai.”

“We have worked with DED to design special incentive specifically for enabling startups and SMEs within retail to take advantage of the opportunities offered by the Retail Calendar, through significant reduction in participation costs.

“Additionally, we have collaborated with all of our partners and key stakeholders to address industry needs in the design of the new detailed programme, to include even more retail events and promotions, ensuring Dubai stays at the forefront of global retail destinations, as well as being able to offer our partners increased opportunities to amplify their offerings.

“Some examples include new ‘Home Festival’, as well as promotions across all homeware, home appliances and furniture, the event will draw inspiration from the popularity of home makeovers, and will encourage architects, interior designers and self-made decorators to enhance client and own homes and working environments with eye-catching and state-of-the-art, yet affordable styles.

“Some of the city’s most popular existing non-retail events will also be enhanced to involve the retail sector, such as Dubai Food Festival, the annual celebration of Dubai’s gastronomy scene, which in 2019 will feature additional layers of promotions and offers on related product categories thereby creating natural synergies across both industries and driving spend collectively,” Al Khaja concluded. – TradeArabia News Service

 

Source: http://www.tradearabia.com/news/TTN_348314.html

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Major spectacle to celebrate UAE’s 47th National Day during Saturday and Sunday 2nd-3rd December

Over 22,000 to attend event at Zayed Sports City Stadium featuring 1,500 performers!

 

Abu Dhabi: The UAE’s 47th National Day will be celebrated in spectacular fashion on December 2, with stunning visual displays, live musical shows, and at least 1,500 performers set to entertain a crowd of over 22,000 people at the Zayed Sports City Stadium in Abu Dhabi — the venue for this year’s official celebration.

“In this Year of Zayed, we commemorate a hundred years since his birth, alongside recognising his legacy as a visionary leader. Throughout these celebrations, we aim to instill his memory and his vision within the hearts of all,” said Abdullah Al Qubaisi, member of the Official UAE 47th National Day Celebration Organising Committee during a press briefing on Monday.

“Over 22,000 people will witness a celebration which takes them through a journey of the UAE’s history. They will visit the life of Shaikh Zayed as a young man, who was a leader with a brilliant vision, a love of life, and a strong will to change the nation around him,” he added, explaining how the live show will be a story of the late Shaikh Zayed and the progress of the UAE over the last 47 years.

Highlighting some of the main themes of the show, Al Qubaisi said they would highlight Shaikh Zayed’s role towards conservation and his work in upgrading the country’s health and education services.

“The celebrations will also highlight Shaikh Zayed’s love for nature and how he sought to protect such beauty for future generations.

“The celebrations will show how Shaikh Zayed looked to provide the people of the UAE with world class health care and education. These are milestones which Shaikh Zayed looked to achieve for the benefit of all the nation,” he added.

“The celebration will also pay tribute to the foundation of the union at Saih As Sidirah, when Shaikh Zayed Bin Sultan Al Nahyan forged a new path for the future of the seven emirates of the UAE with Shaikh Rashid Bin Saeed Al Maktoum. This historic meeting laid the foundation for the nation that we love today,” Al Qubaisi said.

Commenting on the 1,500 performers, Al Qubaisi said that 70 per cent of them are made up of Emiratis.

“Including 1,500 male and female performers — 70 per cent of which are Emirati — the celebration will use a stage built of 20,900 pixels which required over 4,200 scaffolds to develop.

Source: https://gulfnews.com/uae/major-spectacle-to-celebrate-uaes-47th-national-day-1.60584831

 

 

 

 

IMF projects UAE’s economic growth at 3.7 per cent in 2019

Dubai: The UAE economy is projected to grow at 2.9 per cent in 2018 and 3.7 per cent in 2019 against and estimated growth of 0.8 per cent, according to the latest regional economic outlook report of the International Monetary Fund (IMF).

“Growth projections are based on the significant increase in oil prices and the progress the country has made in fiscal adjustments on both revenue and expenditure side. Going forward, we expect the improved government revenues to reflect on the growth in non-oil economy,” said Jihad Azour, director, Middle East and Central Asia Department of the IMF.

The IMF projects strong growth revival in both Abu Dhabi and Dubai in next two years. In 2018, Abu Dhabi’s GDP is projected to grow by 2.7 per cent and 2019 by 3.4 per cent, against 0.5 per cent growth in 2017.

Dubai’s GDP is projected to grow at 3.3 per cent in 2018 and 4 per cent in 2019 compared to a 2.8 per cent growth recorded in 2017.

“Recent oil price increase is yet to trickle down to private sector growth in the UAE and Saudi Arabia. With fiscal and structural reforms already set in motion, it is an opportune time for encouraging growth in non-oil private sector,” said Azour.

The IMF observed that higher oil prices and slower pace of fiscal consolidation are boosting near term growth pro-spects for the region’s oil exporters. GDP growth for oil exporters is projected at 1.4 per cent in 2018 and 2 per cent in 2019.

In GCC countries, following a contraction in 2017, growth is projected to recover and reach 2.4 per cent in 2018 and 3 per cent in 2019. As for the non-oil sector, growth is projected to remain steady at 2.4 per cent.

For oil-importing countries in MENA, growth is expected to continue at a modest pace of 4.5 per cent in 2018, be-fore dropping back to 4 per cent next year, the IMF said.

This level of growth is not sufficient to create the required jobs for a region marred by instability and civil strife, it said. Oil revenues for MENA exporters have increased by about $260 billion (230 billion euros) over the period 2016 to 2018.

This has mostly been due to a price rise generated by production cuts in nations belonging to the OPEC, as well as non-OPEC producers.

Source: https://gulfnews.com/business/imf-projects-uaes-economic-growth-at-37-per-cent-in-2019-1.1542096043901

Bahrain seeks to boost tourism to Hawar Islands

The CEO of Bahrain Tourism and Exhibitions Authority (BTEA), Shaikh Khaled bin Humood Al Khalifa met with acting CEO of Southern Tourism Company, Captain Abdulla Al Murbati, to discuss strategies to boost tourist numbers to Hawar Islands.



The meeting, in line with the directives of the Deputy Prime Minister and Chairman of Bahrain Mumtalakat Holding Company, Shaikh Khalid bin Abdulla Al Khalifa, saw both parties discuss plans currently underway to develop and transform Hawar Islands into an attractive tourist destination. They also discussed increasing collaboration efforts in order to prepare an integrated programme with the aim of increasing tourists visiting Hawar Beach Hotel and the surrounding area through hosting events and activities throughout the year.

“We appreciate the confidence shown by Shaikh Khalid bin Abdulla Al Khalifa in trusting the BTEA to position Hawar Islands as a major attraction in the kingdom. During the meeting with Southern Tourism Company, we discussed the unique and distinctive tourism offerings of Hawar Beach Hotel, which will further contribute to the kingdom’s tourism sector and the national economy as a whole,” said Shaikh Khaled.

Further commenting on the meeting, Captain Al Murbati said: “The meeting held with Shaikh Khaled bin Humood Al Khalifa was extremely fruitful, and provided us with the opportunity to collaborate more closely in order to highlight Hawar Islands’ offerings, particularly Hawar Beach Hotel and the surrounding area; as it is truly unique from the other islands in the Kingdom.”

“The additional efforts in driving tourists to Hawar Islands throughout the year have come as a result of the increase we have witnessed in the number of tourists visiting the Islands as of the start of 2018 up until the third quarter, in comparison to the same period last year. Moreover, there was an increase in the occupancy rate as well as the number of daily trips taken,” Captain Al Murbati added.

The BTEA’s strategy focuses on developing the kingdom’s tourism sector by offering unique tourist attractions, further positioning it as an ideal tourist destination on a regional and international level under the slogan of ‘Ours.Yours.’, which contributes to the Kingdom’s economy and the 2030 Economic Vision.

Southern Tourism Company is owned by Bahrain Mumtalakat Holding Company – the government’s sovereign wealth fund – and specialises in operating the hotel and sea transportation to and from Hawar Islands. –TradeArabia News Service

 

Source: http://www.abc-bahrain.com/News/1/284185

Over 4,000 visitors attend Halal Expo Dubai

More than 4,000 visitors, mostly buyers and sellers of halal products and services, from 40 countries, as well as over 75 companies from 15 countries, attended the 10th Halal Expo Dubai, which opened yesterday (October 29) in Dubai, UAE.

The two-day expo kicked off just two months after Duai Islamic Economy Development Centre recognised the show as part of the Islamic Economy Week.

The recognition will facilitate the trade of UAE halal products worldwide and acceptance of UAE halal standards in the international markets, as well as markets that accept UAE’s halal certification, of which there are 60 markets globally, said a statement.

The UAE is home to 5,000 importers, manufacturers and stockists of halal products. Emirates Authority for Standardisation and Metrology (Esma), the country’s standardisation authority, is expected to issue 18,000 halal certification this year – which is one of the highest in the world.

Companies from Kazakhstan, Malaysia, Spain, Pakistan, Switzerland, India, the UK, Brunei, Thailand, China and the UAE are participating at the show.

These developments are a direct result of the vision of the government as envisioned by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, when he declared his plan to transform Dubai as the global capital of Islamic Economy in 2013.

Subsequently, the government has created Dubai Islamic Economy Development Centre (DIEDC), which is supporting the Halal Expo Dubai.

The global halal economy is estimated to touch the $6.4 trillion (Dh23.48 trillion) mark by 2018, up from $3.2 trillion in 2012, according to a latest report, while Dubai reinforces its position as the capital of the global Islamic economy as it opens doors to the 9th edition of the Halal Expo Dubai.

The GCC countries import $50 billion (Dh183 billion) worth of halal products, according to a latest research by Farrelly and Mitchell – a food and agri-business specialist. Of this, the UAE’s Halal import bill is $20 billion (Dh73 billion), or about 40 per cent of the GCC’s Halal products imports.

Raees Ahmed, director of Orange Fairs and Events, organiser of the Halal Expo – Dubai, 2017, said: “Expo is part of our efforts to help Dubai strengthen its position as the global hub of Halal and Islamic economy.”

“The two-day exhibition will create the right meeting point for international buyers, sellers, producers, manufacturers, importers, exporters and wholesalers of Halal and Islamic products and services and help generate businesses for the leading international Halal suppliers through Dubai,” he said.

“Halal foods are considered to be healthy and hygienic. A growing number of non-Muslim consumers prefer halal foods, as they are deemed safer. As a result, the distribution of halal foods has expanded beyond traditional markets in cities such as Shanghai which has 80,000 Muslims,” he added.

Globally, Muslim expenditure on food and beverage (F&B) was estimated at $1.12 billion in 2014 and potentially rising to $1.58 billion in 2020. Muslim expenditure makes up 16.7 per cent of global expenditure on F&B in 2014.

Orange Fairs and Exhibition, is organising Halal Expo, an international exposition to highlight the growth in the ethical, moral and halal and healthy living, products and services.

Halal Expo Dubai is the largest and most comprehensive Business-to-Business (B2B) halal exposition in the Middle East for the $2.3 trillion global halal industry. The event, which attracted participation from 13 countries in its previous edition and registered 3,700 trade visitors from 40 countries, expect larger trade participation where buyers and sellers of halal products and services are expected to do brisk business.

Halal Expo Dubai focuses on a number of business verticals, including, halal food, halal beverage, halal fashion, halal cosmetics and personal care products, halal travel and tourism, halal hospitality, halal banking and finance, it stated. – TradeArabia News Service

 

Source: http://www.tradearabia.com/news/IND_346980.html

Dubai’s retail sector continues to grow with new entrants

As top retailers launch their Fall/Winter 2018 fashion collections in stores in Dubai, UAE, this month, the city’s retail scene continues to thrive due to its position as a world-class shopping destination.

With a robust and extensive retail calendar managed by Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (Dubai Tourism), retailers in Dubai are given several opportunities to market their collections.

Many international brands have chosen Dubai to have a presence in the Middle East.

In addition to the strong retail sector, Dubai’s ongoing tourism efforts continue to draw visitors from across the globe who are keen on experiencing everything the city has to offer.

For the fourth year running, Dubai has ranked fourth among the world’s most popular destinations for international travellers according to MasterCard’s Global Destination Cities Index 2018. With the city welcoming 15.79 million overnight visitors last year and ranking a projected growth rate of 5.5 per cent, Dubai is expected to witness another year of steady expansion in 2018, it said.

Given Dubai’s multicultural mix of nationalities, diverse businesses, futuristic landscape, it gives the brand both global and local exposure through international and GCC tourists as well as UAE residents.  TradeArabia News Service

 

Source: http://www.tradearabia.com/news/RET_346735.html

Saudi Aramco signs 15 strategic deals worth $34bn

Saudi Aramco has signed 15 strategic and commercial collaborations valued at more than $34 billion with 15 partner companies from eight countries at the Future Investment Initiative (FII) forum in Riyadh, Saudi Arabia.


The memoranda of understanding (MoUs) reflect both Saudi Aramco’s and the Kingdom’s international partnership strategies and the determination to diversify the economy, enhance the domestic investment environment and boost employment opportunities.

The MoUs support Saudi Aramco’s forward-looking strategy across business units, including downstream, offshore, and engineering. It engages with companies representing eight countries including major businesses in France, China, the US, Japan, the UAE, the UK, South Korea and India.

A number of these MoUs will enhance the In-Kingdom Total Value Add (iktva) program, Saudi Aramco’s flagships initiative to improve the domestic supply chain, its operations and its employment potential, through greater commercial engagement with Saudi businesses.  Iktva’s localization objective is to achieve 70 per cent of locally supplied goods and services by 2021.

In the area of job creation, Saudi Aramco has proactively pursued opportunities to pilot the high value job creation in the Kingdom, increasing opportunities for Saudi citizens over the next 10-15 years with anchor projects, including the King Salman International Complex for Maritime Industries and Service in Ras Al Khair which will generate in the region of 30,000 direct and 50,000 indirect jobs.

The MoUs and commercial collaborations signed are:

•    MoU with Total to launch engineering studies to build petrochemical complex in Jubail, KSA
•    MoU with Total regarding the potential establishment of a retail service station network
•    MoU with Hyundai Heavy Industries regarding  potential HHI investments in  King Salman International Maritime Complex for Industries and Services at Ras Al Khair
•    MoU with Baker Hughes GE
•    MoU with Schlumberger
•    MoU with Halliburton
•    MoU with Oilfield Supply Center
•    MoU with Flex-Steel to invest in RTP reinforced thermoplastic pipe facility
•    MoU with NPCC (National Petroleum Construction Company, UAE) to invest in a fully integrated fabrication yard and marine base
•    MoU with SeAH Changwon Integrated Specialty Steel Co. Limited to invest in localization of engineering steel
•    MoU with GumPro (India) to invest in drilling chemicals facility
•    MoU with Acwa Power (KSA) and Air Product (USA) regarding  the Jazan Refinery gasification power project
•    MoU with Sumitomo (Japan) regarding potential investments to upgrading PetroRabigh Refinery
•    MoU with Norinco (China) regarding potential investments in refining and chemicals projects
•    MoU with NOV (USA) to invest in manufacturing and repair of onshore rigs and equipment

The Future Investment Initiative is an ideal platform to attract international investments and to capitalize on emerging new opportunities that are fast emerging with Vision 2030.

Saudi Aramco is playing a pivotal role, alongside many national stakeholders, in enabling new industrial and business partnerships in the Kingdom thanks to its position as a global energy powerhouse, and as reflected in our major investments and partnerships globally, not only in core oil and gas and downstream, but also in pursuing advanced technologies and energy-related value adding activities.

Saudi Arabia’s infrastructure, both physical and digital, has witnessed an extraordinary advancement. This is integral to today’s advanced industrial activities. It attracts investors and enhances the fundamental competitiveness of the Saudi economy. – TradeArabia News Service

 

Source: http://www.tradearabia.com/news/IND_346707.html

Saudi Arabia ranks second in road connectivity index

Saudi Arabia has been ranked second on the Road Connectivity Index, right after the US, in the World Economic Forum’s (WEF) Global Competitiveness Report (GCR) 2018.


Also the report indicated that kingdom was now positioned 30th worldwide on the Road Quality Index, advancing four ranks compared to last year.

The Saudi Transport Ministry lauded the kingdom’s advanced ranking on the Global Competitiveness Report, attributing the achievement to the generous and unlimited support of the country’s leadership, which has resulted in implementing various road projects throughout the Kingdom’s road network of more than 68,000 km.

The ministry pointed out that it had completed 55 road projects during the first half of 2018, in addition to fast-tracking delayed projects, a move that has resulted in restructuring and rescheduling 124 delayed projects.

In line with its periodic and preventive road maintenance programme, which holds great significance for its plans, the ministry implemented a total of 399 maintenance projects.

A total of 85 maintenance projects had been completed during the first half of 2018 covering the installation of barriers, traffic signs, signboards, reflective road signs, asphalting and hard-shoulders extensions.

Source: http://www.tradearabia.com/news/CONS_346527.html

Bahrain to host major dermatology, aesthetics conference

Bahrain will host a major dermatology, laser and aesthetics conference and exhibition in November.
The first Bahrain Dermatology, Laser and Aesthetics conference and exhibition (BDLA 2018) will be held under the patronage of the president of the Supreme Council for Health (SCH), Lieutenant General Dr Shaikh Mohammed bin Abdulla Al Khalifa on November 29 and 30.
BDA Center for Medical Training is organising the conference at the Crowne Plaza Hotel Bahrain – Conference Center.
The first-of-its-kind initiative in Bahrain, BDLA 2018 brings the region’s foremost experts in dermatology, plastic surgery, laser and aesthetics to brainstorm and discuss the latest advances and trending topics in the field. The participants will benefit by staying ahead of the curve and update themselves on the new and advanced health technologies. The aim of the organisers is to highlight ways to engage patients and gain improvement in health-related outcomes, a statement said.
The conference includes five workshops that are unique and adapted to fit the local and regional regulatory frameworks. The workshops offer new insight into techniques in major and minimally invasive plastic surgeries, skin care and skin rejuvenation, as well as the treatment of burns, ulcers, the latest trends in injectables such as fillers and Botox, body countering devices and laser machines.
President of the conference, Dr Nidhal Abdulrahman Khalifa, states that the event aims to identify the latest international practices in the field of dermatology and plastic surgery.
“We aim to promote these practices to enhance the Bahraini practice. We hope to advance the skills of Bahraini doctors, technicians and authorised practitioners. We also intend to spread awareness of non-qualified personnel that perform cosmetic medical procedures, and the harmful health complications and adverse sequelae that can arise,” he said.  – TradeArabia News Service
Source: http://www.tradearabia.com/news/HEAL_346278.html

Saudi interior design market spend hits $3bn, says report

The interior design market in Saudi Arabia is poised for solid growth over the coming years with the kingdom accounting for nearly SR11.25 billion ($3 billion) market spend, almost one third (32 per cent) of the total GCC interior design market of SR35.6 billion ($9.48 billion), said a Ventures report released ahead of an industry event.


The report was commissioned by Index Saudi, the new design exhibition which will run at the Riyadh International Convention and Exhibition Centre from October 30 to November 1.

Thousands of designers, architects and buyers representing hundreds of international suppliers will be taking part in the Saudi expo this month to capitalise on the boom in interior design spending across the kingdom.

According to Ventures, the renewed demand for high-quality interior design and fit-out services in Saudi Arabia was mainly due to to the influx of new residential, commercial and hospitality projects as well as the host of new schools and hospitals planned across the country in preparation for Saudi Vision 2030.

While the report shows that Saudi Arabia is the biggest investor across the Gulf in healthcare and educational property fit-outs, with the specific markets estimated to be valued at SR1.425 billion and SR926 million respectively by 2019, it also highlights that the residential sector takes top spot in value for the country’s interiors industry, worth SR4.5 billion and forecast to grow to SR5.12 billion in 2019.

The top international interior design firms to attend the Index Saudi include Al Yamama Factory for Wooden Furniture, International Timber Company (Itco), Tanatel, +Object, Sleep Nice, Gift Mart, Taxiat Trading Co and Mineheart.

Jalal Ozgen, the division manager at Itco said: “Saudi Arabia is still the most stable market when compared to other countries in the Middle East despite all its economic woes. The furniture industry in particular will continue to be active because of the renovation activities and because of the kingdom’s ambition to develop the touristic sector and living standards.”

“Itco continues to raise awareness about its offered services in the Saudi Market and it goes without saying that Index will be a good vehicle to increase our client base and a good platform to launch new products,” remarked Ozgen.

The show is likely to attract thousands of interior designers, architects, project managers, retail buyers, importers and distributors from the full spectrum of hospitality, residential, retail, educational and commercial design sectors.

Jaafar Shubber, the event director for Index Saudi, said: “Upcoming mega projects in Saudi including the King Abdullah Financial District, Kingdom City and Jazan Economic City mean that the country is investing vast amounts of money into new and redevelopment construction and fit-out projects in the next decade.”

“Across all sectors there is a definite sense that we are at the precipice of a dramatic shift in the history of the design industry,” stated Shubber.

“The Index brand is very well established as the must-attend platform for interior designers in the Middle East and this new show in Riyadh will bring the creative minds together at the heart of the country’s generation-defining projects,” said the official.

“This will be the number one networking event for anyone involved with the design community across the Kingdom and beyond,” he added.-TradeArabia News Service

 

Source: http://www.tradearabia.com/news/CONS_346111.html