WHAT THE NEXT 12 MONTHS HOLDS FOR INTERIOR DESIGNERS IN THE MIDDLE EAST

Cynthia Corby, audit and assurance partner and construction industry leader at Deloitte Middle East, reported there are huge opportunities in the Middle East in spite of fluctuating oil prices.

The UAE market is still positive largely thanks to project awards for Expo 2020 Dubai. “Most of the packages have been awarded and well under way," she added.

The richest country in the GCC, Saudi Arabia, is also driving development through a number of initiatives including its Public Investment Fund (currently the largest project developer in the Kingdom).

Cynthia is not alone in her findings; HSBC has reported that international capital inflows to the Middle East have never been stronger than they are right now.

In lieu of this information, we have partnered with Ventures Onsite to create a series of reports (worth $2,000!) which you can download free-of-charge. The reports highlight the state of the region's building and interiors markets and where exactly all of this reported investment will be generated.

A FEW HIGHLIGHTS FROM THE REPORTS INCLUDE:

 

  1.    According to the National Bank of Kuwait (NBK), the GCC economies are expected to grow by 2.3% in 2019 and 2.6% in 2020

  2.    The GCC building construction projects expected to be completed across all sectors are forecast to be worth US$ 74,972 mn in 2019

  3.    The overall GCC interior contracting and fit-out spend across all sectors is expected to be worth US$ 9,401 mn in 2019

  4.    According to STR, the GCC is expecting an additional 58,000 keys to enter the market in 2019

 
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