Rise in property activity to aid flooring industry
Dubai, April 14, 2010
An expected growth of 15 per cent in real estate activity across key GCC markets in 2010 will benefit the carpets and floor covering industry, said the organiser of an upcoming flooring solutions exhibition in Dubai.
Domotex Middle East (Domotex) 2010 will be held from May 10 to 12 at the Dubai International Convention & Exhibition Centre.
Domotex noted that Oman maintains its positive outlook with a projected 2.7 per cent annual growth in the construction sector, which is expected to reach a value of RO1.57 billion ($4.07 billion) by 2013.
Qatar on the other hand also continues to open new opportunities for the carpets and floor covering industry, as an estimated 16 per cent real growth in its economy is expected to sustain real estate and construction activities all over the country.
In Bahrain, an estimated deficit of 40,000 housing units is likewise driving construction activity in the residential segment, subsequently pushing demand for flooring materials and solutions, said a statement.
Similarly Kuwait will be a particularly interesting target market as prices in the residential segment is expected to increase by 10 to 15 per cent during the first half of 2010, buttressed by financing from Shariah-compliant banks, according to the statement.
“The GCC market to a large extent has remained resilient, which has helped maintain a positive growth outlook for various related industries, including the carpets and floor covering segment,” said Angela Schaschen, managing director, Deutsche Messe Dubai Branch, organiser of the event.
“In this regard, Domotex continues to take into account new trends to provide better value to both exhibitors and trade visitors,” she added.
“This year, we have observed a growing demand for residential and hotel projects across the region, so we are looking forward to showcasing a wider range of customised carpets and flooring solutions for these segments.”
Domotex Middle East will present a comprehensive selection of carpets and floor coverings including hand-made and machine-made carpets; textile and resilient floor coverings; parquet and other wood floors; laminates; ceramic tiles, natural stone floors and marble, floors for sports arenas and sports facilities; fibres, yarns and textiles; application and floor laying techniques and equipment; machinery and technology.
Domotex Middle East will be held concurrently with R+T Middle East 2010, the Middle East spin-off of the world’s leading show for roller shutters, windows, doors, gates and sun-protection systems. – TradeArabia News Service