Recent reports denote that in Saudi Arabia, the largest construction market in the Gulf, the value of new construction contracts awarded to main contractors in Saudi Arabia, is expected to increase by 15.4%, reaching Dhs221bn ($60bn) in 2010 compared to Dhs191bn ($52bn) in 2008.
"The current downturn may have caused an all round slowdown in business in other parts of the world, but the Gulf countries' economy remains buoyant and presents opportunities to companies willing to look at emerging markets such as the Middle East," said Ms. Elisabeth Brehl, Managing Director of Epoc Messe Frankfurt GmbH, organizers of Hardware and Tools Middle East.
Hardware and Tools Middle East is taking place from May 17 to 19, 2009, at the Dubai International Convention and Exhibition Center.
"In the UAE, active construction projects are estimated to be worth Dhs2.5 trillion even with deferred projects worth many billions of dir-ham more," said Ms. Brehl.
According to latest research the global hardware and tools market is projected to grow at a CAGR of over 4.5% to cross Dhs73bn in sales by 2010.
In spite of its low profile, the industry is among the most lucrative and one of the few in the world that is not affected by recession.
"This global growth phenomena in the hardware and tools sector has proved highly beneficial for Epoc Messe Frankfurt GmbH, as Hard-ware and Tools Middle East, is the region's largest event for power tools, hand tools, hardware, iron-mongery, workshops and woodwork-ing machinery," she added.
Hardware and Tools Middle East exhibition has been established over the years as a unique platform for industry professionals in the Middle East to source the products and solutions for the hardware and tools industry.
It is a business forum to discuss best practice for the devel-opment of the UAE and the Middle East region. The event will provide a meeting place for buyers and specifics to network with product and services suppliers delivering solutions for all aspects of the industry.
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15.4% increase in Saudi contracts in 2010 to Dhs221bn
- Saudi Arabia: Sunday, May 10 - 2009 at 13:04
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The Gulf countries, buffered by its oil wealth from the ravages of the worldwide downturn, still offer manufacturers and suppliers of hard-ware and tools an unprecedented opportunity not available elsewhere.
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Hardware and Tools Middle East exhibition:Hardware and Tools is the Middle East's only dedicated event for power tools, hand tools, hardware, ironmongery, workshop and woodworking machinery. As an industry professional involved in the supply of equipment to or the design, construction, build or specification of commercial or residential developments, you understand the importance of staying updated with new products, services and technology in your field.
Hardware and Tools is the perfect platform to meet new contacts, discuss new trends and technological developments, and keep up to date with industry knowledge and source new products and solutions.
Epoc Messe Frankfurt:
Epoc Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt. Messe Frankfurt is Ger-many's largest trade fair organizer, with €436m in sales in 2008 and more than 1,400 employees worldwide. The Messe Frankfurt Group has a presence for its customers in more than 150 countries. In 2008, Messe Frankfurt organized more than 100 trade fairs, of which more than half took place outside Germany.
The successful portfolio of events of EPOC Messe Frankfurt GmbH in Dubai include: Intersec trade fair and conference, Materials Handling Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, ISH kitchen+bath Middle East, Light Middle East, Beautyworld Middle East, Wellness & Spas Middle East, Automechanika Middle East, and the Middle East Toy Fair.
For more information, please contact:
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Posted by Rana MesbahSunday, May 10 - 2009 at 13:04 UAE local time (GMT+4)
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