Interiors UAE 2011 was formally inaugurated in Abu Dhabi by Shaikh Dr Hazaa bin Sultan Al Nahyan as the UAE capital’s only design-led, luxury interiors event.
Now on its fourth year, Interiors UAE 2011 has been at the forefront of introducing global design innovations and trends to the UAE and the bigger GCC region, as well as providing an excellent business platform for industry stakeholders to establish professional networks and do business.
With exhibitor space selling out weeks prior to the show, the prevailing mood among exhibitors is one of optimism, looking forward to seeing this year as a recovery year for the interior design and fit out sector in the region. UBM Built Environment, organisers of the show, have commissioned Ventures Middle East to do a thorough study on the size of the interior design and fit out market in the GCC, as well as its potential for growth.
Among the highlights of the research include interiors spending in the UAE will reach $8 billion in 2011, up from $5 billion last year. In addition, building contracts to the tune of $89 billion were freshly awarded in the UAE in 2010; while construction projects worth $43 billion were completed across the GCC in the same period.
“A further $70 billion are expected to be completed in 2011 all of which represent a definite potential market for interior contracting and fit outs, because they are usually contracted during the second half of project execution,” said Tony Crinion, Event Director, UBM Built Environment.
According to Crinion, citing the Ventures Middle East report, of the total spending on interior contracting and fit outs in 2010, more than 50 per cent was spent in projects executed in UAE.
“With massive spending plans such as Abu Dhabi 2030 providing momentum to the trend, along with Saudi Arabia’s ambitious six economic cities programme across the kingdom and other mega projects; and Qatar with its winning bid of the 2022 World Cup spurring construction across the retail, commercial, residential and hospitality segments, the interiors market is all for massive growth over the next few years.”