Media monitoring services compiling news from the major news providers in the UAE
MENA construction projects worth over $4 trillion
Aug 16, 2012
There is currently an estimated $4.2 trillion of ongoing construction projects in the MENA region, with the UAE representing the biggest slice of that at $698bn.
With sectors such as heating, ventilation and air conditioning (HVAC), expecting to see annual growth of 9% over the next three years, UAE has the highest value of projects in the pipeline in the region.
The figures were provided by DMG Events ME ahead of The Big 5 exhibition due to take place in Dubai in November. Event director Andy White said the importance of the HVAC sector would be reflected at the event.
"There is a definite trend to this year's event in terms of growing product sectors, as you would expect, HVAC is the biggest of those here in this region," he said.
He added: "With the recent eurozone crisis, and a slowing down of industry across countries affected by these challenges, the Middle East's influence in construction has become a key focus for the world's industry and our exhibitors come here to do serious business."
"Specific product sectors have grown to become extremely important for the event," said White. He said a number of these sectors are expected to provide huge opportunities over the next three years, and with this in mind, products are very much focused upon throughout the event.
With the GCC HVAC industry worth around $6.4 bn, this sector is among the biggest at the event, with brands represented including Leminar, Primeco, Energy International Duro Dyne, Gree, Eros and TCL .
Another sector with increased presence at the 2012 event is kitchen & bathrooms, with the UAE market size for these materials in 2012 now worth almost $1.2bn - a 3.5% increase since 2010.
The Big 5 will take place from 5-8 November at Dubai World Trade Centre, with pavilions from 30 countries including Italy, Germany, USA, Turkey, UK, Spain and France.