Business is looking ahead of the 30th edition of INDEX, the Middle East’s popular exhibition for the interiors industry which is estimated to take place from September 14-16, 2020, at Dubai World Trade Centre. A vital date in the design community calendar, the event will host around 500 exhibitors who are preparing to gain profits on the growth of the GCC interiors and fit-out markets.
Besides knowledge associate, Ventures Onsite, INDEX has unfolded a report revealing the prevailing business outlook for the industry for the year preceding. The report compiles how digital solutions, technology, and innovation are primary to the growth of the sector:
• Discovery and sustainability in architecture, especially in association with new digital solutions, are kicking the future of real estate in the Middle East.
• Adopting digital solutions completely, every aspect of the construction process could improve market productivity by over 15% and decrease project costs by up to 45%, as per research reports by McKinsey & Company
The stats reveal that the GCC building construction market’s estimate is definitely accurate and highlights that interior design and fit-out are firmly tied to the overall health of the economy, defining some key forecasts:
• The GCC building construction projects anticipated to be finished among all sectors are projected to rise from $ 75,983mn in 2019 to $ 78,962mn in 2020
• The overall GCC interior contracting and fit-out spend among all sectors is anticipated to rise from $ 8,975mn in 2019 to $10,160mn (9%) in 2020
• The emirate’s largest-ever annual budget, worth US$ 18Bn for 2020, was approved in December 2019, making it the biggest in Dubai’s history
In 2020, the UAE is suspected to head in the share of interiors and fit-out spend in the GCC territory, at 42% of the total, supported by the Kingdom of Saudi Arabia (29%) and Qatar (13%)
These are useful stats that will help you understand the industry’s growth effectively.