The Kingdom of Saudi Arabia is benefiting from government investment in infrastructure, and will see the launch of its first INDEX KSA show in 2012
The interior design industry in the Kingdom of Saudi Arabia (KSA) is showing an upward turn with a plethora of investments and the introduction of the first INDEX KSA 2012, to be held in Jeddah during May 29-31, 2012.
After 22 years of operation in Dubai, UAE, the organisers of INDEX are tapping into the growing market in the Kingdom. Held under the patronage of Sheikh Saleh Abdullah Kamel, president of the Islamic Chamber of Commerce and Industry, INDEX KSA will target the Kingdom’s commercial, hospitality, residential and retail interior sector where spend reached $2.16bn in 2011.
It will feature six sectors: Furniture, Interiors, Kitchen & Bathroom, Lighting, Outdoor Living and Textiles. The launch event signals the strength and growth of the interiors sector, and increased demand for design and fit-out services in KSA, following the region’s highest recorded annual economic growth since 2004-2005. This in addition to a government social investment package valued at more than $130bn in 2011.
Reflecting this growth is the fact that between 2010 and 2012, 18 million m2 of office space will have become available for interiors and fit-outs in the Kingdom, which is now primarily focusing on infrastructure such as educational institutions and hospitals.
Jaafar Shubber, INDEX KSA 2012 project manager, said: “We are honoured by the patronage of Sheikh Saleh Abdullah Kamel, and grateful for the opportunity to hold our first INDEX event in the Kingdom of Saudi Arabia.”
A report conducted by INDEX with Ventures Middle East in 2011 saw interiors spend in the region across commercial, hospitality, residential and retail segments set to reach more than $2.16bn for the full year, led by $359m spend on commercial interiors and $383m on residential interior fit-out.
In addition, residential furniture sales in KSA, estimated at $1.7bn in 2011, are forecast to grow by more than 10% a year over the next four years, reaching $2.5bn by the end of 2015, with commercial furniture sales in KSA during 2011 estimated to be worth an additional $216m.