Dubai, India (PressExposure) February 19, 2012 -- SAUDI ARABIA'S CONSTRUCTION INDUSTRY EXPECTED TO REACH US$43.8 BN
With Saudi Arabia, the largest economy in the GCC enjoying a period of sustained growth fuelled by high oil prices and ongoing investment in massive new infrastructure, interest is growing in the Kingdom's booming construction industry.
According to recent figures the construction industry in the Kingdom is estimated to grow from its current US$36.5 bn contract awards value in 2011 to close to US$43.8 bn by 2013, representing a CAGR of 20%*. This is because Saudi Arabia is in the process of setting up large projects to expand its infrastructure in order to further develop as a trade and economic power in the future.
This rapid ongoing expansion has fuelled great interest in the Saudi Arabian market from manufacturers and suppliers of construction material and machinery from across the world. This has driven demand for further information and generated increased inquiries about participation at the upcoming Hardware+Tools Middle East, the region's foremost trade platform for construction materials and machinery, which will be held in Dubai from May 8th to 10th.
"Hardware+Tools Middle East has been established in the region for quite some time now. The exhibition provides an access point for manufacturers and suppliers looking for a foothold in the region," said Ahmed Pauwels, CEO of exhibition organiser Epoc Messe Frankfurt. "The event attracts a large number of buyers and industry leaders from Saudi Arabia looking to sign on new suppliers and fill orderbooks," he added.
The only dedicated trade and networking platform for tools, hardware, materials and machinery, Hardware+Tools Middle East features the latest products in the full range of power and hand tools, measuring tools, pipe and plumbing tools, tool sets and cases, hardwares and consumables, compressors and plumbs, workshop and woodworking machinery.
Since its inception in 1999, the trade fair has gained the reputation for being a useful business platform for introducing the latest products, trends and services available within the industry, offering a platform for generating sales leads, opening new business opportunities and net-working with key professionals within the sector.
The Saudi Building Construction Report - October 2011 by Ventures Middle East