Interior Design Contracting (IDC) on average makes up between 15-20% per cent of the total project value of contracts, with Fit-outs estimated at an additional 5-8% of the total project value. Residential construction projects are the drivers of the IDC and fit-out spend, accounting for 49% of the total estimated value, followed by hotels at 27%, offices at 19% and the retail sector at just 6%.
The Interior Design Contracting & Fit-Outs Industry in the UAE and Middle East & North Africa (MENA) region consists of a several market players of varying sizes. Although it is very competitive amongst small- to medium-sized players, the industry in the region presently dominated by DEPA LIMITED. Headquartered in Dubai, it is the largest and most profitable interior contractor and specialist fit-out company in the region; by growing steadily through expansions into Europe, Africa, Asia, and the Middle East, it now falls amongst the top five in the world. The company specializes in the full-scope turnkey fit-out and furnishing of upscale projects globally, with their UAE portfolio consisting of completed projects like the Burj Khalifa Residences, Emirates Palace, Armani Hotel, 5 Dubai Metro Stations, and Sheikh Zayed Mosque.
With international markets still struggling with the economic crisis, interiors manufacturers and suppliers are turning their attention to the Middle East region in a bid to gain a stake in upcoming multi-million-dollar regional contracts. The estimated market value of IDC projects for 2010 in the GCC totalled USD22.0B (AED80.85B). Despite the economic recession, the UAE is a key investment destination as it accounts for two-thirds of the total value of all projects. Saudi Arabia, Qatar and other GCC countries also remain important growth areas because of the steady increase in development activities within these markets.
Dubai has the fastest growing occupied office market in the world on a per capita basis when calculated on net...
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