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Saudi hotel construction contracts to hit $2.5bn

JEDDAH, September 17, 2017

Buoyed by a booming hotels and leisure construction market, the contract awards in Saudi Arabia for this sector will likely hit $2.5 billion by the end of this year, said a report ahead of The Big 5 Outdoor Design & Build Show in Dubai.

A key industry event, The Big 5 Outdoor Design & Build Show in Dubai will run from September 25 to 27. Co-located with the expo, three world-class events will offer additional networking and learning opportunities, as well as innovative products and latest solutions for the expanding Saudi hotel and leisure sector: FM Expo, Windows, Doors & Facades Event and Gulf Glass.

The Saudi Vision 2030 is encouraging positive growth for the hotels and leisure industry. In April, the kingdom’s Public Investment Fund announced its plans to build the largest cultural, sports, and entertainment city in the world, according to the report by Venture Onsite.

By 2022, sports, cultural and recreational facilities will be developed along with a safari and a Six Flags theme park over a 334 sq km area south of Riyadh, said the report entitled “GCC Hotels & Leisure Market.”

While expanding its capacity to accommodate religious visitors in Makkah and Madinah, the kingdom is also broadening its hospitality market in a bid to diversify the national economy.

The Red Sea project, announced by the Public Investment Fund in August, will develop a tourism hub on more than 50 natural islands between Umluj and Al Wajh. Construction of luxury resorts is expected to start in 2019, with Phase 1 to be completed by 2022, said the report.

The positive trend is confirmed across the whole region. In the GCC, the hotels and leisure construction contractor awards are expected to record a 13 per cent jump, from $11.23 billion in 2016 to $12.7 billion in 2017, stated the Ventures Onsite report.

With sustainability becoming progressively important to Saudi Arabia, the hotels and leisure facilities are increasing their green spaces, incorporating design concepts that employ sustainable and cost-effective products, it added.
 
"The booming hotels and leisure construction market is driving an unprecedented demand for outdoor design and landscaping projects in the region," remarked Josine Heijmans, the portfolio director of The Big 5 Outdoor Design & Build Show.

"In order to address the most compelling topics and issues related to urban development and landscaping, industry thought-leaders will gather at the only specialised trade event for the landscaping, infrastructure and urban development industry in the region," he added.

The Big 5 Outdoor Design & Build Show 2017 will also offer 11 free to attend and CPD (Continuing Professional Development) certified workshops.

Big industry names will share best practices and valuable insights for the planning, design and construction of the hospitality and leisure projects being developed in Saudi Arabia, like the “Master Planning Tourism, Entertainment & Retail districts” session presented by Morne Fourie, VP Design at Dubai Parks and Resorts.

The event will also present a Sports Feature, presented by Raymond Sport, and is supported by Tentara UAE as Tent & Shading Partner.-TradeArabia News Service




Tags: Saudi Arabia | contracts |

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