GCC Construction Projects rises 13% in value to US$65.5bn in 2012

?

• UAE continues to garner largest share of total GCC building construction market at 48%, closely followed by KSA (33%)
• US$46.52bn worth of construction projects completed in GCC in 2011, expected to increase dramatically to US$79.75bn in 2012
• Commercial real estate projects completed in 2011 set to double in 2012 to US$15.3bn
• GCC spends more money on interior contracting and fit-out than counterparts in? US, EU and Japan
• To meet market demands, INDEX International Design Exhibition showcasing world leading interiors and design confirmed for September 24-27 at Dubai World Trade Centre

?

Building projects worth over US$57.8bn were awarded to contractors in 2011 across all building sectors (residential, commercial, hospitality and retail), with the sector likely to increase by 13 per cent to US$65.5bn by the end of 2012, according to new research by Ventures ME commissioned by dmg :: events, the organising team behind the INDEX International Design Exhibition. The Middle East and North Africa?s largest and longest established Interiors and Design Exhibition, the 22nd annual edition of INDEX will run from Monday 24th September 2012 till Thursday 27th September at the Dubai World Trade Centre, Dubai, UAE.

In 2011, construction projects to the value of US$46.52bn were completed in the GCC, a figure expected to increase dramatically, up 71 per cent to US$79.75bn in 2012. The research revealed that the United Arab Emirates continues to garner the largest share of the total GCC building construction market ? accounting for almost half (48 per cent), with Saudi Arabia taking a further third (33 per cent) followed by Kuwait (8%), Qatar (6%), Oman (3%) and Bahrain (2%).

The value of commercial real estate projects is set to almost double in 2012 to US$15.3bn from US$7.7bn in 2011 as the GCC continues to be a leading luxury destination for retailers, with four of the six GCC countries ranking among the top 20 global retail destinations, according to the Global Retail Development Index (GRDI).

The hotel and hospitality sector will also witness enormous growth throughout 2012 with project values set to treble to US$7.3bn, up from US$2.7bn in 2011. This growth is a direct result of the increased demand for hotel space in the GCC where room revenues are set to reach US$22bn in 2012 and expected to increase to US$27bn by 2015.

?One of the findings from the report is that GCC countries spend more money on average on interior contracting and fit-outs elements of a construction project than their counterparts in the US, Europe and Japan,? said Naomi Barton, INDEX Event Director. ?The hotel and hospitality sector is the biggest segment spender, with over 22.5 per cent of total project cost allocated to interior contracting and fit-out projects ? more than any other sector within the GCC?s building construction industry. INDEX International Design Exhibition 2012 will respond to this huge market growth and cater to the demand of all construction projects.?

INDEX 2012, themed ?Where Inspiration Thrives,? will cover 34,000 sqm gross space of the Dubai World Trade Centre exhibition centre, occupying halls from 1 to 8 and Zabeel Hall. Over 900 exhibitors from 45 countries ? including Brazil, Canada, Greece, Germany, Italy, Malaysia, Spain, and UK ? have booked floor space to showcase their products.

About INDEX:

The INDEX International Design Exhibition is the largest event for the architect and design industry in the Middle East. It attracts more than 900 exhibitors from 45 countries, taking place at the Dubai World Trade Centre.

For 22 years INDEX has provided a business and networking opportunity for buyers and sellers of interiors products and services from around the world to source an astounding array of the very latest design innovations, trends and techniques.

More than just an exhibition, the event provides attendees with unrivalled access to information, intelligence, contacts and hands on experience. Experts from around the world engage in the industry?s most topical discussions, finding design solutions, facing challenges and seizing opportunities. The show is the gateway to the Middle East and North Africa (MENA) providing both exhibitors and visitors with the opportunity to conduct serious business with like-minded professionals

?

About dmg :: events
The INDEX Exhibition is organised by dmg :: events (formerly known as dmg world media), a wholly-owned subsidiary of the Daily Mail and General Trust plc (DMGT, www.dmgt.co.uk), one of the largest media companies in the United Kingdom. Founded in 1989, the company now manages over 80 exhibitions, conferences and online platforms for a variety of industries in up to 25 countries each year.

dmg :: events is a leading supplier of face-to-face business information, with a customer-centric focus that localizes operations and relationships. Its objectives are to keep businesses informed and connect them with relevant consumers to create vibrant marketplaces across multiple event platforms. dmg :: events is divided into the following five divisions:

1. Energy (including the Global Petroleum Show, Gastech, World Heavy Oil Congress and others)
2. GLM (including the New York International Gift Fair, Surf Expo, ICFF and others)
3. Middle East (ADIPEC, The Big 5, INDEX, the Hotel Show, the Office Exhibition, Reflex Publishing and others)
4. Leadership Conferences (including?CIO, CFO, CMO and HR events)
5. Digital Marketing (including ad:tech, iMEdia Summits and iMedia Connection)

Source: http://capitalbusiness.me/2012/07/30/gcc-construction-projects-rises-13-in-value-to-us65-5bn-in-2012/

soledad o brien mega ball lottery winner lottery numbers mega millions lottery jackpot winning numbers mega millions