Construction boom boosts region’s fit-out industry

Alkesh Sharma / Emirates Business

Fuelled by a booming construction sector, the GCC region’s interior and fit-out contracting industry is expected to grow by nearly 20 percent and the market expected to cross the whopping mark of $12.5 billion by the end of 2017. UAE is clearly spearheading this market in the region and is expected to add more impetus as more number of event management and communications brands are setting up their hubs in the country.
“2012 was the turning point in the industry of interior contracting and fit-out in the UAE when this market underwent a growth of over 60 percent. Since then there has been no looking back and this industry is growing rapidly every year. Currently, we are expecting another 15 to 20 percent growth in this sector by 2017-end,” Mayur Sidhwani, Chief Marketing Officer of Blossoming Properties in Dubai, told Emirates Business.
In the Gulf Cooperation Council (GCC) region, UAE has been given tough completion by Saudi Arabia, which has also seen a substantial rise in the fit-out market in the last couple of years.
“In the UAE, hospitality segment holds majority of the total spends on interiors and it is closely followed by commercial and residential sectors,” added Sidhwani.
Over the years, many innovative trends have marked the fit-out industry. Special emphasis has been given to ensure green nature of buildings while confirming maximum usage of natural resources.
Marwan M. Hjazin, Director of Sales and Customer Management at Hidd Al Saadiyat, Abu Dhabi, told Emirates Business, “We have given special attention to the interiors of our project. They are modern but at the same time hold the essence of traditional Arabic culture. In fact we are offering the best products. In this competitive environment, we have to offer the perfect fit-outs and interiors to live upto the expectations of the discerning customers.”
According to industry experts, the hospitality and leisure sectors will remain crucial factors ensuring fast growth of fit-out market in the
UAE. In Emirates, there are many hotels that are undergoing massive
renovation of their interiors to attract domestic as well as international tourists.
Experts say that GCC’s retail is another sector, which is expected to increase its fit-out refurbishment budget by another 10 percent to attract customers in 2016.