Construction sector to hit $336bn by 2020

Dubai / Agencies

The estimated value of the building and construction industry in the Middle East
and North Africa (MENA) region is expected to surge to US$336 billion by the year 2020, according to recent business reports.
Thermal insulation technologies provide efficient solutions conducive to increasing the value of the industry in MENA from $235 billion in 2016 to $336 billion by 2020, said a report by BMI,a research firm that provides macroeconomic, industry and financial market data.
The total value of building and construction contracts is expected to surge to $300 million in 2019 , a 43 percent increase from $235 billion in 2016, as the new thermal technology contributes to reducing costs and energy consumption in buildings by preventing heat gain and loss through the building envelop, and provides larger spaces for livelihood and business, said a number of architects and interior designers ahead of the INDEX International Design, which will be organised in Dubai on May 22-25.
“GCC mega-projects will host millions of people over their lifetime – meaning they need interior spaces that prioritize design and quality to cut costs, provide comfortable spaces, and are environmentally sustainable. Felt is set to be deployed from the deepest train stations to the tallest skyscrapers, and every interior in-between,” said Santhosh Vallil, Sales Manager of mega-project consultancy Hunter Douglas Middle East.
In response to the growing popularity of felt among architects and designers, Hunter Douglas has seen strong Middle East interest on the recently-launched world’s first new
felt linear ceiling, called HeartFelt. The system can be customized to different settings, and also reflects light and absorbs sound.
Demonstrating the momentum for felt, HeartFelt recently won the Red Dot: Product Design 2017 award. HeartFelt beat more than 5,500 submissions from 54 countries around the world. Judges praised Heartfelt for its “exceptional and innovative” design.