Saudi hospitality sector experiencing solid growth
May 23rd, 2011
Hotel industry specialists STR Global said recently that the hospitality sector in Saudi Arabia shows no sign of slowing down despite the recent turbulence in the Middle East. They also said that selected markets in the Middle East hospitality sector would see more than half their current supply in hotels coming online in the next few years.
STR’s Managing Director commented “Despite the worries of a double-dip recession in Europe and the US, as well as unrest in the MENA region, hospitality infrastructure and the associated supplies industry is still witnessing steady growth. Although Abu Dhabi was likely to report the largest increase in supply (84%), other markets to expect significant increases in existing supply include Saudi Arabia’s Riyadh (77.2% with 4831 rooms in its active pipeline) and Jeddah (50.5% with 3033 rooms in its pipeline).” Furthermore, Saudi Arabia will enjoy sustained growth over the next few years due to surging oil prices, higher crude output and increases in government and consumer spending.
Taking place from 11-13 September 2011 at the Riyadh International Convention & Exhibition Center – Food, Hotel & Hospitality Arabia is set to become the region’s fastest growing show for the sector and will provide a unique opportunity for companies wishing to sell their products and services in a very robust market.
For further details visit www.fhha-arabia.com or email fhha-arabia@montex.co.uk
Saudi Consumer Electronics Market to reach $4.9billion by 2015 driven by its youths desire for high-tech.
May 12th, 2011
Saudi Arabia’s consumer electronics market has seen unparalleled growth due to the massive demand for IT products and services predominantly by the kingdoms young and tech-savvy population.
The “Saudi Arabia Consumer Electronics Report Q1 2011″ said that Saudi Arabia’s consumer electronics market is projected to be worth US$4 billion in 2011 and is expected to increase to US$4.9 billion by 2015. The growth is driven by a growing popularity of notebook computers, mobile handsets, LCD TV’s and other key product groups.
Social networking sites such as Facebook and Twitter have had a massive influence on demand. David Drummond, Google’s senior vice president said “Saudi Arabia, which has reported an increase of 200 percent in the number of Twitter user’s last year, has emerged as the top country where people and especially youngsters have been watching movies and videos on their mobile handsets and communicating with each other using social networking sites.”
He said that “Youthful population demographics, coupled with a regional economic boom and a buoyant real estate sector will continue to drive retail growth.”
Smart Tech Arabia 2011, the Saudi Arabian international consumer electronics exhibition, is set to take place from 19-22 November at the Riyadh International Convention and Exhibition Centre. The exhibition will feature the very latest in consumer products, digital lifestyle and future entertainment including computing devices, mobile handsets and video, audio and gaming products.
For more information visit www.st-arabia.com
Saudi Arabia’s fine jewellery and luxury watch exhibition attracts strong international support.
May 12th, 2011
The first edition of Saudi Arabia’s International Fine Jewellery and Luxury Watch Exhibition – Jewelex Arabia 2011, set to take place in Riyadh from 2 to 6 December, has attracted strong interest and commitment from international jewellery producers and regional jewellery retail trading agencies.
All available space at Riyadh’s prestigious Four Seasons Hotel, venue for Jewelex Arabia 2011, has now been taken up by international names such as Chatila, Kallista, Zela, Salamoon, Vancox, Yessian and Art Creations.
Large areas are also on hold for the Indian Gem and Jewellery Export Promotion Council who are planning to bring around 20 hand picked producers of high quality jewellery; and the Hong Kong Quality Jewellery Manufacturer Promotion Centre who are selecting some 25 producers of high end merchandise.
Major Saudi retail trading agencies such as Al Fardan, Ali Bin Ali and Al Hussaini have reserved a major section of the exhibition for their presentations of fine jewellery and luxury watches on behalf of their impressive portfolios of principals worldwide.
Special arrangements have been made with the Saudi Arabian Department of Customs for the temporary import and transportation of high value exhibit merchandise. These will be handled by Via Mat International of Zurich who are in the business of valuables logistics and have wide experience of operating within the exhibitions sector.
Saudi Arabia is the Middle East’s biggest single market for fine jewellery and luxury watches conservatively worth more than US$5 billion a year.
Jewelex Arabia 2011 will provide a unique platform for the world’s fine jewellery producers and luxury watch manufacturers to interface with the Kingdom’s discerning jewellery and watch buyers, collectors and investors, as well as the high-end jewellery retail traders.
Further information from the Jewelex Arabia 2011 organisers:
Alagat Montgomery, 9 Manchester Square, London W1U 3PL
Phone: +44 20 7886 3034 / Email: jewelex-arabia@montex.co.uk
Web: www.jewelex-arabia.com
Saudi ICT sector booming in line with Government innovation…
April 5th, 2011
The ICT sector in Saudi Arabia is growing at a compound annual rate of 10.9 percent and is expected to be worth over US$4.9 billion by 2014.
The Saudi Government recognises the importance of the ICT sector in achieving sustainable economic growth and the reduction of the kingdom’s dependency on oil. Government initiatives such as the deregulation of the ICT sector and the commissioning of several major IT projects is fostering massive growth. Other initiatives include opening IT training centres and university campuses to address the issue of a shortage of IT professionals in the country.
Other factors driving this surge in development of IT products and services include Saudi Arabia’s unhampered economic growth and especially the building of new hotels, offices and leisure complexes. The expansion of internet services such as online banking, internet shopping and social networking by a young and tech-savvy population have also had a significant impact.
Information and Communications Technology Arabia is set to take place at the Riyadh International Conference & Exhibition Center from 19-22 November 2011 and will bring Saudi Arabia’s business professionals and international ICT manufacturers and suppliers together under one roof providing unprecedented opportunities for the global export community.
For further information click on the link above or email jonny.dearden@montex.co.uk
Saudi Arabia’s US$ multi billion construction market going green
February 6th, 2011
The Mayor of Riyadh – DR. Abdul Aziz Bin Muhammad Bin Ayyaf Aal Muqrin announced at a recent building and construction forum in Riyadh: “687 construction projects costing RD695 billion (US$185 billion) are currently underway in Saudi Arabia”. He highlighted the attention being paid to efficient infrastructure and sustainable development as the kingdom’s multi-billion dollar construction market continues to defy global economic slowdown and become one of the strongest markets in the world.
The Mayor’s comments were yet another example of Saudi Arabia’s desire to lead the way with the introduction of sustainable green building ideas. Saudi Arabia staged it’s first Green Buildings Forum in October 2010, a national conference exclusively devoted to green buildings emphasising the great efforts made by the Kingdom to create environmentally responsible and efficient structures. Further to this, in May this year, Riyadh will host Green Building Design and Interiors Arabia 2012. This will be the kingdom’s first green building exhibition open to international and local companies capable of providing green building and eco friendly materials, energy and water efficient technologies and intelligent building design and management systems. This will contribute greatly to the Kingdom’s desire to reduce power consumption and carbon emissions.
Green Building Design & Interiors Arabia 2012 is set to take place at the new Riyadh International Convention & Exhibition Centre 13-16 May. For further information click onto the link above or email Jonny Dearden at gbdi-arabia@montex.co.uk
New 5 Year Development Plan Boosts Green Building…
December 23rd, 2010
A new 5 year development plan, the 9th, covering government spending from 2010 to 2014 amounts to a staggering US$385 billion and a 67.2% increase over the last FDP.
Of the Kingdom’s US$695 billion worth of projects currently under way some 48% are in the construction sector and signs are positive. Housing is a key priority as building projects can barely keep pace with the growing population. Under the current plan one million new homes will be built by 2014 with the government providing US$26.8 Billion. The overall value of construction projects under the new 5 year development plan is US$420 Billion. Economic growth is forecast at 3.7% in 2011.
Held under the auspices of the Saudi Arabian General Housing Authority, Green Building Design & Interiors Arabia will be a key opportunity for global suppliers in the construction sector to determine their own contribution to the Kingdom’s incredible building programme and demonstrate their eco-friendly credentials. The Kingdom’s commitment to sustainable building programmes, in line with imminent membership of the World Green Building Council, will provide an ideal backdrop to the technology displays and discussion forums at Green Building Design & Interiors Arabia. The show runs 13 – 16 May 2012 at the new Riyadh International Convention and Exhibition Centre.
Economic growth…mortgage law boosts construction
November 18th, 2010
Saudi economic growth is heading for 3.5% this year on the back of heavy government investment spending. Mohammed Al – Jasser, governor of the Saudi Arabian Monetary Authority (SAMA) said growth would surge after the small increase of 0.6% in 2009.
Meanwhile mortgage law changes and government issued construction projects of some US$200 Billion would further boost the economy and provide opportunities for international suppliers. Mu’taz Sawwaf, CEO of Construction Products Holding Company said once new laws had been passed construction activity would increase by 20-30%.
A high level Italian trade mission toured Saudi Arabia last week starting in Riyadh then moving to Dammam followed by the UAE. The mission was there to set up joint ventures and sme’s in the interior design, manufacturing and hospitality sectors.
Green Building Design & Interiors Arabia gives you access to probably the best construction market in the world: 13-16 May 2012, Riyadh International Conference & Exhibition Centre.
New hospitality show targets rapidly growing Saudi market
October 1st, 2010
New hospitality show targets rapidly growing Saudi market GDP growth forecast at 3.7% in 2010 compared to 1.7% in UAE*
A strong and rapidly growing economy, coupled with a vibrant tourism sector are two of the reasons behind the launch of a new international food and hospitality show in Saudi Arabia next year.
Food, Hotel & Hospitality Arabia (FHHA) will take place from 11-14 September 2011 in Riyadh.
Saudi Arabia boasts the biggest single economy in the Middle East and is currently developing six new economic cities expected to create investment opportunities worth more than US$100billion. The Kingdom’s GDP of $592billion far outweighs neighbouring UAE’s GDP of $187billion.
Real economic growth in Saudi Arabia is forecast to grow by 3.7 percent in 2010, according to MEED Insight. In Dubai, GDP is set to fall by 0.4% in 2010.
“The Saudi Arabian economy is the strongest in the Gulf Region”, commented Christopher Newton, Chairman of FHHA’s worldwide representative Montgomery International. “New hotels and restaurants are being introduced at a significant rate to accommodate the growth in business, religious and leisure tourism. A younger, more widely travelled population is leading the demand for international quality accommodation and a wider variety of foods and diets.”
The new show, will be held in Riyadh’s impressive International Convention & Exhibition Center (RICEC). It will bring together manufacturers and suppliers of food and beverages, interiors and design, tabletop, catering equipment, bathroom and hotel spa, hospitality technology, premises management and waste management, recycling & sustainability to meet and do business with buyers and decision makers from hotels, guest houses, restaurants, quick service, fast food outlets and cafés, contract and in-house caterers, distribution and wholesale, interior design and architectural practices.
“This is a great new opportunity for the Saudi Arabian food and hospitality industry” said Bechara Nacouzi, Senior Advisor of show organiser Alagat Montgomery. “As the Kingdom’s hotels and restaurants develop, they are looking for the very latest products, designs and services available from the international community.”
Food, Hotel & Hospitality Arabia is organised by Alagat Montgomery, a joint venture company owned by Alagat International of Saudi Arabia and Andry Montgomery of the UK. Montgomery International is the worldwide representative of FHHA.
Montgomery companies currently organise a number of exhibitions for the food, hotel & hospitality sector, including: Hotelympia and Hospitality in England, ScotHot in Scotland and Hostex in South Africa.
ENDS
Note to Editor: For further information or photographs please contact Christopher Newton of Montgomery International on + 44 (0)20 7886 3040 or christopher.newton@montex.co.uk
* Figures from MEED Insight
Saudi Arabia’s mining sector boosted by infrastructure developments
September 30th, 2010
Key infrastructure developments in Saudi Arabia are geared to the development of the kingdoms mining sector now targeted to become the third pillar of the Saudi economy after oil and petrochemicals.
Speaking at the recent Opportunity Arabia conference in London, Abdullah I. Abdulgader, Executive Director of project management and engineering at Ma’aden said “Government investment in infrastructure to promote diversification facilitates growth of the minerals industry and downstream opportunities.”
The three key infrastructure enhancements making this possible are the development of the Minerals industrial city along side the Jubail Industrial City on the East coast; the North-South Saudi rail road due for completion this month and the new seaport providing an export gateway for Saudi’s immense mineral resources.
Radical new government laws combined with these infrastructure enhancements are opening up tens of thousands of square kilometres of land containing minerals ranging from phosphates, gold, silver, lead and zinc, uranium to iron ore, copper, bauxite, coal and tungsten.
Abdullah I. Abdulgader of Ma’aden concluded in his presentation that Ma’aden were actively seeking partnership opportunities both domestically and internationally weather it be through joint ventures, investment, technology or suppliers of professional services.
MINING ARABIA 2011 will provide the definitive platform for global individuals, organisations and equipment and technical suppliers to focus on Saudi Arabias huge untapped minerals resources.
MINING ARABIA will take place from 1-4 October 2011 at the new Riyadh International Convention & Exhibition Centre. To register or for more information please visit www.mining-arabia.com
New International Exhibition Programme for Riyadh
September 30th, 2010
A new programme of international trade exhibitions reflecting the modern needs of Saudi Arabia’s dynamic economy, and tailored to meet the needs of the Kingdom’s aggressive growth plans, has been announced for 2011.
Set to take place at the newly opened Riyadh International Convention and Exhibition Centre (RICEC), the exhibition themes cover: green building design, energy efficient building technologies and interiors; manufacturing machinery and plastics technology; food, hotel equipment and hospitality; mining and mining infrastructure; information and communications technology; consumer electronics; and security, fire protection and safety.
Riyadh’s new ‘state of the art’ exhibition centre, constructed and operated by the Riyadh Chamber of Commerce and Industry, puts a firm focus on exhibitions as a means of introducing and transferring technology into the market.
The exhibition schedule is set against a background of spending plans of US$150 billion this year, the largest budget in the country’s history, and a US$400 billion five year investment programme designed to stimulate and broaden the economy and to support sustainable private sector expansion.
Saudi Arabia is the biggest single economy in the Middle East and provides a ready market for the world’s technology export countries looking to support the Kingdom’s economic development plans aimed at stimulating growth and modernisation across a wide range of industry sectors.
The exhibitions will bring suppliers of products, equipment, technology and expertise from around the world to interface with those implementing the Kingdom’s public and private sector development plans.
Saudi Arabian state spending doubled in the last decade, and it is predicted that it will double again in the next 10 years as the government acts to support the economy and provide the job opportunities, infrastructure and quality lifestyle for a population currently growing at 2.5 per cent a year, and expected to number close to 32 million by 2020.
The State has traditionally been seen to rely on revenue from the export of oil, and this will play a crucial role in funding the current ambitious investment programme, but development of the country’s infrastructure to expand the non-oil sector is now perceived as increasingly vital.
Central to this development are huge projects such as the US$110 billion plan for six new ‘smart’ economic cities to be created by 2010 in different areas of the Kingdom.
The exhibitions are being organised by Alagat Montgomery, a joint venture company between Alagat International of Riyadh and London based Andry Montgomery Ltd – international organisers, managers and consultants in exhibitions since 1895.