Saudi Arabia Commercial Interior Fit Out Market to Reach USD2028.67 Million by 2027
Rising adoption of
interior fit outs services in the commercial sector and demand for renovation
to drive the growth of Saudi Arabia Commercial Interior Fit Out Market in Saudi
Arabia in the forecast period, 2023-2027
According to TechSci Research report, “Saudi Arabia Commercial Interior Fit Out
Market - By Region, Competition, Forecast & Opportunities, 2017-2027”, Saudi Arabia commercial interior fit out market was
valued USD1012.35 million in 2021 and is forecast to grow at CAGR of 12.76% to
reach USD2028.67 million by 2027. The Commercial Interior Fit Out Market in
Saudi Arabia is one of the largest in the Middle East. The Saudi Arabian
government is the major sponsor of construction activities, especially
infrastructure and building projects, to reduce their economy's dependency on
oil-based revenue, which is likely to drive the Saudi Arabia Commercial
Interior Fit Out Market over the forecast period. The government is also
promoting tourism, resulting in the construction of modern skyscrapers,
shopping malls, and theme parks. Such facilities necessitate specialized
interior fit out services such as ceiling installation, partition installation,
furniture installation, etc. Building services such as cabling, wiring,
internet access, communication arrangements, and others are also predicted to
propel the commercial interior fit out market forward.
The market is expected
to grow with the rise in urbanization and industrialization, which is driving
the demand for commercial interior fit out services. With the improvement in
lifestyle of customers, there has been increased demand for high-quality,
aesthetically pleasing, comfortable, and visually appealing décor for
commercial places. Further, ethical principles such as sustainability, animal
welfare, ecology, community effect, labor, and manufacturing methods are
becoming more important to consumers when selecting commercial interior fit
outs. Thus, influencing their buying decisions. Therefore, increasing
urbanization and quality of life are becoming major drivers for Saudi Arabia
Commercial Interior Fit Out Market.
The Saudi Arabia
Property Market is very dynamic, with many space leasing and absorptions due to
growing foreign investments. While setting up their offices and retail chains
in the country, the investors often prefer reinventing existing spaces rather
than building new ones. Furthermore, hospitality and commercial property owners
renovate their interior fit outs to keep the interior design updated with the
latest trends. Such demand for renovation of the spaces is likely to drive the
Saudi Arabia Commercial Interior Fit Out Market.
Browse over 17 market
data Figures and 5 market data Tables spread through 135 Pages and an
in-depth TOC on "SAUDI ARABIA COMMERCIAL INTERIOR FIT OUT MARKET"
Saudi Arabia Commercial Interior Fit Out
Market is segmented based on application, ownership and region. Based on Application, the market is
further fragmented into offices, hotels & resort, retail, healthcare,
education, others. Hotels & Resorts dominated the Saudi Arabia Commercial
Interior Fit Out Market with a share of 28.29% in 2021. Favorable government
policies and initiatives such as Project HQ, are the major factors propelling
demand for Commercial Interior Fit Out services in the Saudi Arabia. Though,
the increasing religious tourism in the country, encourages investments, the
hospitality industry in Saudi Arabia has seen dynamic key performance
indicators during the last five years.
The government of Saudi
Arabia is focusing on improving investment opportunities across hospitality
sector by introducing many projects such as Al Ula, Qiddiya, Wadi Al Disah
Development, NEOM, Red Sea Development, Amaala, and others, which were launched
by the Saudi's Public Investment Fund in 2018 and aim to meet the Vision 2030
target.
Major operating companies
operating in Saudi Arabia Commercial Interior Fit Out Market are:
- Construction & Planning Co. Ltd. (C&P)
- Havelock One Interiors WLL
- Kinnarps Project Solutions (KPS) LLC
- ArchiSite Group
- DEPA Saudi Arabia for Contracting & Interior Design
Ltd
- Saudi Tamat Contracting Co.
- Cedrus International
- ID Works Global
- Saudi Icon
- Absal Paul Contracting
- A&T Group Interiors
- ASP Saudi Trading Company
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“Makkah showed the highest growth in the
Saudi Arabia Commercial Interior Fit Out Market with a CAGR of 13.31% in 2021.
This can be attributed to the fact that the province provides immense
opportunities for the growth of the market due to the booming travel and
tourism, along with increasing foreign investments. Major infrastructure
developments and improved connectivity are expected to strengthen Makkah's
tourism capacity and open new development prospects. Makkah is undergoing
massive changes as part of Vision 2030, with many government programs paving
the way for the Holy City to reach a capacity of 30 million pilgrims per year
by 2030. Megaprojects like Rou'a Al Haram Al and Jabal Omar Makki are bringing
new opportunities for the Commercial Interior Fit Out Market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Commercial Interior Fit Out Market By Application (Offices, Hotels &
Resort, Retail, Healthcare, Education, Others), By Ownership (Self Owned,
Rented), By Region, Forecast and Opportunities, 2017-2027”, has evaluated the future growth
potential of Saudi Arabia commercial interior fit out market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia commercial interior fit out market.
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