Archive for February, 2016
With overall market statistics and named project information, the report once again provides unique detail on the commercial, education and healthcare fit out opportunities available to North American companies in the Middle East region.
An extract from the overall conclusion of the Report confirms as follows :
The GCC’s fit out industry has its hands full heading into 2016 due to heightened construction activity, and the completion of structural works on large-scale. Fit out operations have evolved in line with industry changes, and modern fit out designs and practices are transitioning to suit international standards. This evolution can be attributed to the rapid globalisation ambitions of local GCC markets such as the UAE and Qatar.
As sustainability has become a major issue, the fit out industry has experienced increased pressure to implement environmentally-responsible practices.
Despite the slump in oil prices, the GCC building construction and interiors market is clearly set for a sustained upward stint over the next few years.
– The GCC interiors and fit out spend in the Commercial Sector is expected to increase from US$ 1,150 million in 2015 to US$ 1,168 million in 2016.
– All GCC countries are likely to register an upward trend in 2016 in terms of interior and fit outs spend except for Saudi Arabia.
– The interiors and fit out spend in the UAE Commercial Sector alone is likely to increase from US$ 328 million in 2015 to US$ 350 million in 2016.