GCC interior design spend ‘to cross $5bn’
Dubai, October 12, 2011
The outlook for the office fit-out segment remains positive with GCC interior design spend forecast to reach $5.67 billion in 2011, said the organisers of an upcoming office fit-out exhibition in Dubai.
The Office Exhibition 2012, taking place at the Dubai World Trade Centre from 15-17 May, is the Middle East’s leading and largest industry platform for premium office design and fit-out solutions.
Over half of the exhibition floor space for 2012 has been sold prior to the event’s official launch, with 30 per cent of that booked before the end of the 2011 show. Organisers dmg :: events have also shown their optimism by reserving an additional hall for 2012.
The event is seeing an increase in exhibitor interest from many countries including Italy, Germany, Portugal and the US. New international pavilions for 2012 include Russia, Vietnam and South America.
With more than US$300 billion worth of major projects to be awarded across the Middle East by 2012 , event organiser dmg :: events is confident that the 11th edition of The Office Exhibition will deliver ever-increasing opportunities for participants to tap the anticipated market growth in the regional office segment.
“The Office Exhibition’s focus is all encompassing – showcasing the best in office design from around the world, educating the region about the latest office trends, and providing invaluable industry networking opportunities,” said David Wilson, event director of The Office Exhibition.
The Office Exhibition will also broaden its show offering in 2012 to include health and education suppliers to meet the regional growth in both these sectors.
According to consultants McKinsey, the total health care spending in the GCC countries is forecast to reach $60 billion by 2025 while Saudi Arabia’s 2011 budget, the largest ever, highlighted a spend of around $100 billion in education and infrastructure projects.
“The GCC commercial fit out and office refurbishment segments are poised for exponential growth in the coming years,” Said Wilson.
“Both Qatar and Saudi Arabia have revealed plans for big infrastructure projects which will require supporting commercial real estate, while in the UAE we continue to see businesses take advantage of the declining prices in prime office space and investing significantly in their interiors.”
“With the Office Exhibition attracting visitors from across the wider Middle East and even Africa, it really is the only gateway through which to reach such vast numbers of business opportunities that exist in the region,” he added. – TradeArabia News Service