Overview
Saudi Arabia is the Middle East’s biggest market for building design and interior products, services and technology. Fuelled by public and private sector US$ mutibillion spending, the market offers unprecedented opportunities for the international export community.
Green revolution…
Furthermore, Saudi Arabia is looking to lead the way with the introduction of green building technology and is heading for a green revolution which will be backed by mandatory regulations before the end of 2010. This opens the door to huge market potential for international companies capable of providing green building design concepts, including energy and water efficient technologies, and intelligent buildings design and management systems, all contributing to the reduction of power consumption and carbon emissions.
Building boom…
Saudi Arabia’s building sector is booming in line with the Kingdom’s expanding population and its expectations of high quality and technically advanced energy efficient housing, hospitals, schools/universities and working environments.
The Kingdom’s rapidly expanding commercial sector is creating a demand for more office buildings, as well as shopping malls, and hotels ranging from boutique hotels to five star international hotels to accommodate the surge in business tourism.
US$ multi-billion building projects…
Central to this are huge projects such as the US$110 billion plan for six new ‘smart’ economic cities to be created by 2020 in different areas of the Kingdom. These cities will eventually provide 1.3 million jobs and generate the need for homes and support facilities for 4.5 million people.
Another large scale project and which is currently under way is the US$13 billion green campus Princess Noora University close to Riyadh’s King Khaled International Airport. This will have capacity for 26,000 students and will include administration buildings,13 faculties, a 700 bed student hospital, laboratories, research centres and residential accommodation for both students and staff. These and other major projects will provide a unique opportunity for those involved in cutting edge design and construction, building finishes and interiors, as they look to promote their products and services in an environment which will lead the world in quality and style incorporating the latest smart technologies and green initiatives.
Renovation and refurbishment…
While new building projects offer a unique opportunity for suppliers of appropriate expertise, there is a huge programme of renovation and refurbishment of building throughout the Kingdom offering an extension of this ever-increasing market, as well as the opportunity to upgrade buildings with the introduction of sustainable building products and smart technology.
The renovation and refurbishment programme also provides big opportunities for providers of interior design expertise and interiors products.
Iconic buildings…
In Riyadh alone a US$47 billion programme of investment has already been launched where iconic buildings such as The King Abdullah Financial Center, The Kingdom Tower, and the commercial and residential Al-Olaya Centre have been built with integrated smart technology.
US$400 billion capital investment…
Saudi Arabia boasts its economic growth forecast to average 3.4% a year in 2010/11. The Government plans $US400bn of public investment between 2009 and 2013. 48% of the Kingdom’s 2010 budget is allocated for capital investment projects, underscoring the government’s determination to improve critical infrastructure and diversify the economy.
Green Building Design & Interiors Arabia will provide a modern approach and green solutions to the Kingdom’s booming building design and interiors market.
