Al-Sorayai Group expects to grow 30% annually until 2020

The carpet and flooring industry in the GCC and Middle East region is expected to grow 30 percent annually until 2020, according to industry sources. The expansion will be driven by the evolution in industry standards following the deployment of cutting-edge technologies and will be fueled by the completion of giant real estate projects, which are set to increase demand for local carpets and flooring and boost the presence of local and GCC manufacturing firms to meet this soaring demand.

The forecasts were revealed during the International Design Exhibition (ANDEX), which took place in Dubai from May 18th to 21st in the presence of high profile corporate and individual attendees.  Exhibition sectors include furnishings, kitchen and bathroom, lighting, outdoor living, retail and textile.

Speaking on the occasion, Mr Talal Al Sorayai, Chief Marketing Officer at Al Sorayai Group, one of the world’s leading industrial and trading groups in flooring and furniture, said, “The exhibition presented an opportunity to support the region’s industry and to highlight the importance of this sector and its role in developing the economy by meeting demand in real estate projects. The region is preparing to host two major global events: Expo 2020 in Dubai and FIFA World Cup 2022 in Doha. We have a multitude of mega projects currently underway in the GCC region, which are expected to significantly increase the growth rates.”

Al Sorayai added, “Consequently, we expect an annual growth of 30% in the flooring and carpet industry in the GCC and Middle East region until 2020. The outstanding performance of many leading players in this industry and the remarkable growth in terms of product supply serve as a testament to this growth.”

Exhibitors showcased their latest collections of luxury carpets and furniture to thousands of visitors. Arabic carpets stole the show and proved superior to other international competitors during the exhibition. Visitors were impressed with the magnitude of participation and the quality of products.

According to international reports, Al Sorayai is the 14th largest carpet manufacturing and trading firm in the world, and Arabic carpets are swiftly moving forward to occupy a leading position as one of the world’s top ten finest carpets.

With more than 2000 employees on its payroll, Al Sorayai Trading & Industrial Group is operating in a resilient market. KSA, the mother country and base of the group, consumes about 70 million metres of moquette annually according to business sources, and is the world’s third largest manufacturer of carpets and moquette, with a total production volume of 120-130 million square metres of these floor fabrics annually, most of which are produced in eight major factories. Moquette manufacturing accounts for more than 51 percent of the total textile industry in the KSA, and is exported to over 75 countries across the world. The Group intends to expand into new markets in the coming period.