GCC interiors contracting market set to grow

The interiors contracting and fit-out developments in the GCC healthcare sector is estimated to earn $474 million on projects worth $5.9billion, expected to complete by the end of 2012. While the interiors contracting and fit-out developments in the GCC educational sector is expected to earn $431 million on projects worth $5.3 billion expected to be completed during 2012. The data are part of the latest findings from a new research by Ventures ME commissioned by dmg :: events, the organising team behind the INDEX International Design Exhibition, the Middle East and North Africa’s largest and longest established Interiors and Design Exhibition. The 22nd annual edition of INDEX kicks-off on Monday, running from Sept.24-27 at the Dubai World Trade Centre. Qatar, with an investment of $192 million, and Saudi Arabia, with investments worth $145 million, have bagged the largest shares of the healthcare interiors contracting and fit-out segment in 2012, surging ahead of UAE and Oman investments of $119 million and $13 million, respectively. As of September 2012, the growing market of Qatar is the emerging leader in terms of project completion, with total healthcare projects worth $2.4 billion expected to witness completion by year end; representing a 40 per cent share of the total GCC medical projects expected for completion in 2012. Following Qatar, Saudi Arabia and UAE healthcare projects expected to complete in 2012 are worth $1.8 billion and $1.49 billion respectively, ranking as second and third largest spenders of healthcare in the GCC with a 30 per cent and 25 per cent market share respectively. Oman, Kuwait and Bahrain account make up the balance with 3 per cent, 1 percent and 1 per cent, respectively. “The new data confirm that investments in the GCC interiors contracting and fit-out market remain healthy across various sectors,” said Frederique Maurell, INDEX Event Director. “Healthcare and education are of primary focus of investment in GCC countries, reflecting sustainable balanced economic development. This year we have more exhibitors turning their focus toward the education and healthcare interiors sector than ever before in the 22 year history of the show. This is indicative of the growth and demand for this specialist fit-out across the region.” Saudi and Qatar also lead the in the education interiors contracting and fit-out sector with investments of $261 million and $84 million respectively, surging ahead of Kuwait and UAE with investments of $40 million and $26 million, respectively. The Kingdom of Saudi Arabia is ranked as the largest educational investor in GCC with educational developmental projects worth $3.26 billion expecting completion in 2012. Qatar is the second largest with educational developmental projects worth $1.05 billion reaching completion in 2012. More than 900 companies will be present at the 22nd annual INDEX International Design Exhibition with more than 45 countries will be represented at this year’s show, including national pavilions from Japan and Canada, both exhibiting for the first time at the show. INDEX 2012, themed “Where Inspiration Thrives,” will cover 34,000 sqm gross space of the DWTC exhibition centre, occupying halls from 1 to 8 and Zabeel Hall. Over 900 exhibitors from 45 countries - including Brazil, Canada, Greece, Germany, Italy, Malaysia, Spain, and UK - have booked floor space to showcase their products. INDEX is proud to announce the support of RAME Designer Solutions ME, the exclusive distributor of multinational brands of furnishing fabrics, leathers, lighting, curtain hardware and wall coverings to the interior design market, as INDEX Silver Sponsor. UBIFRANCE - the French International Business Development agency - is renewing its trust in this event by bringing over a French pavilion consisting of exhibitors that effectively adapt their sensitivity and creativity to local requirements. During the four days of the exhibition, INDEX will also host a number of events and features, providing the design community with incredible networking and educational opportunities. From gulftoday