The overall GCC interior contracting and fit-out market will increase by 87 percent in value this year, the highest increase since 2008, from US$5.04bn in 2011 to US$9.4bn.
The figures are based on research from Ventures ME and commissioned by dmg :: events, the organising team behind INDEX International Design Exhibition.
“The report is great news for all of us working in interiors and fit-out,” said Naomi Barton, event director, INDEX.
“The sector in the GCC is now valued more highly than it has ever been, all segments are seeing marked growth, and all markets are performing well – and many of them exceptionally well.
“The opportunities for business and employment generation are exceptional and pretty much unrivalled anywhere else on the globe.
“Given the huge regional market growth and potential, INDEX International Design Exhibition 2012 responds to the keen demand we’re seeing from the interiors and construction industries for access to the latest designs and trends from renowned interior designers and manufacturers from across the world.”
According to the data, the UAE remains the GCC’s largest interiors market, with forecast spend in interior contracting and fit-out across residential, commercial, hospitality and retail segments totalling US$3.73bn for 2012, up 62 percent on 2011 figures.