UAE fit-out and interiors market estimated to be worth $973mn by 2022
The INDEX Interiors Market Report by Ventures Onsite indicates that ‘the interior fit-out market in the UAE is one of the GCC’s fastest growing industries and is expected to be worth US$ 973 million by 2022’.
The report also highlights that besides the UAE, the Kingdom of Saudi Arabia is yet another country that is witnessing rapid growth in its interior fit-out market. ‘KSA would remain a highly attractive market, as the Kingdom’s 2018 budget is deemed the largest ever and the government is expected to spend $261bn.’
The GCC governments have announced increased budgets in 2018 across different sectors. With mega events such as Expo 2020 and FIFA World Cup 2022 on the horizon, developers, and consultants are focusing on refurbishing existing projects. Since interior projects are contracted during the second half of project execution, these figures translate into a robust pipeline for the region’s interiors and fit-out sector explains the Interiors Market Report.
Event director, Samantha Kane-Macdonald said: “INDEX, taking place this September, is a soft launch of the new dateline for the show, and will focus on the growth drivers and trends that define the dynamic interior design sector in the Middle East. We see that professionals engaged in interior design for residences are increasingly working with consumers who are exposed to global trends, opting for self-expression and individuality in their homes. In the retail sector as well, clients are opting for spaces that are impactful and inviting instead of the typical shopping and dining ambience. Given the number of retail projects that are under construction in the region, it is only natural for the trend to surge”.
“The autumn edition of INDEX will be a one-stop-show that addresses the trending and future demand in the Middle East’s interior design sector”, continued Kane-Macdonald.