Saudi Arabia is currently witnessing a massive construction boom that’s creating a large demand for furniture imports, say experts.
With $784bn worth of construction projects on the horizon, the market is currently offering strong growth potential for international design companies.
“Saudi Arabia is the largest and fastest-growing construction market in the Gulf, and this is having a positive knock-on effect on the local interiors and furniture markets,” said Naomi Barton, international sales and marketing director, Reed Sunaidi Exhibitions.
“Spending on furniture items is expected to grow 13.7% annually to 2017. Currently, furniture imports in the Kingdom total $2.2bn. This is the most buoyant interiors market in the Middle East, and Decofair is the only credible design platform through which to access it.”
KSA’s positive outlook on the furniture market comes as the result of the country’s government and private sector investments.
The country has seen increased spending on commercial, residential, hospitality and industrial real estate projects.