A report by analysts BNC – prepared exclusively for Middle East Covering – revealed that widespread new builds and renovation projects throughout the region will lead to consistent, exponential growth of more than 5% per annum across the flooring market.
The flooring market across the Gulf is set for a decade of strong growth – culminating in reaching an annual value of US$10bn by 2026.
A report by analysts BNC – prepared exclusively for Middle East Covering – revealed that widespread new builds and renovation projects throughout the region will lead to consistent, exponential growth of more than 5% per annum.
Driven by urban development across all sectors – predominantly residential, office, hospitality and retail – the demand for flooring runs parallel with the vast ambitions of the leading GCC nations, which will host a number of global events in coming years.
Taking place at the Dubai World Trade Centre May 22-25, Middle East Covering will bring together leading figures from the international flooring and surface industry, all looking to secure partnerships to supply interior and exterior covering solutions to the thousands of ongoing and future building and redevelopment projects planned for across the Middle East.
Yan Wang, Event Director at Middle East Covering said “The growth we are seeing across the GCC for flooring market – especially in the UAE – is reflected in the increase in GCC distributor channels we have for our 2017 event.
“With 20,885 construction projects ongoing in the GCC, the demand for the likes of carpets, rugs, tile, vinyl, rubber, wood and laminates is already being felt across the flooring industry. Middle East Covering offers a trade window to showcase the best of each of these, as well as all kinds of wall coverings and interior decorative surfaces.”
BNC research discovered that the UAE is leading the way in the GCC flooring boom, with almost 9,000 projects already underway. That has been attributed to rising tourist numbers and the push ahead of Dubai Expo 2020. Saudi Arabia (3,000 new builds) and Qatar (2,000) follow, as they work towards Saudi Vision 2030 and hosting the FIFA World Cup 2022 respectively.
The steady demand for flooring and fit-outs provide positive growth for the industry with an estimated $252bn in the beginning stages of construction, opening even more opportunities over the next couple of years.
Middle East Covering, now in its third year, is MENA’s premier sourcing platform for surface covering, bridging the gap between supplier and buyer in the region. This year’s four-day meet will welcome over 200 top international brands and thousands of business and industry professionals; predominantly architects, designers and buyers working on the Gulf’s biggest projects.
As the region’s only dedicated surfaces event, Middle East Covering will unite hundreds of international companies specialising in contract business interiors, exterior flooring and wall coverings, providing visitors unprecedented access to more than 2,000 products and a host of unique covering-led features found nowhere else in the Middle East & North Africa. The four-day show is aimed at facilitating business between international brands and enables them to unlock the contract procurement potential of the GCC.
Big name firms including Artista One, BASF, Berry Alloc B. V., Brighto Paints, Colortek, Floor World, HP, PARADOR, Progress Profiles and Val Paintare all exhibiting.
For more information and to register, visit www.middleeastcovering.com
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