Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Trump prepares to unveil sweeping new US tariffs on 'Liberation Day'    At least 22 civilians killed in Israeli strike on UNRWA clinic in Gaza    UK says it won't jump into US trade war as Starmer urges calm response to tariffs    Russia, Ukraine trade fresh accusations of violating US-brokered energy ceasefire deal    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Furniture demand in Saudi Arabia to reach $1.2b by '13
Published in The Saudi Gazette on 15 - 09 - 2011

Furniture demand in Saudi Arabia is anticipated to reach around $1.16b by 2013, according to “Saudi Arabia Furniture Market Analysis” prepared by RNCOS.
The Saudi Arabian furniture industry has come up as one of the most vibrant segment of the retail industry.
Despite the 2008 economic turmoil, the Saudi furniture industry witnessed remarkable growth opportunities and became one of the fastest growing industries in the Middle-East region. With the entry of a number of real estate developers and increasing demand for residential property, the housing industry has witnessed tremendous growth in the past.
Over a period of time, young population base, government funding, and booming economy, together with other secondary factors led to provide a preferred platform for the furniture industry for developing new horizons.
“Our ongoing research revealed that the Saudi Arabian hotel industry has emerged as one of the flexible pillars of economic development. Despite, challenges of oversupply in the short to medium term, investors in the hotel industry are optimistic about future prospects with a paradigm shift from development to investment-led market,” the report noted.
It noted that “institutional investors are increasingly focusing on stable, secure, and more predictable income streams as opposed to short-term capital gains, which favor the hotel sector that offers them a range of income producing assets.”
Moreover, on the regional front, the Central region is considered as the hub for the country's furniture manufacturing industry. Riyadh, Qasim, Hail, etc. are the most preferred regions for manufacturing furniture in the Kingdom.
The area comprises of uplands, broad valleys, and dry rivers. Qasim and Kharj areas are famous for agriculture production and wood work is also a growing opportunity there. Amid most favorable regulatory policies and suitable business environment, the region has showed notable furniture industry developments.


Clic here to read the story from its source.