World attention turns to Middle East with increase of showroom openings in UAE - INDEX 2010

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UAE - September 6, 2010: The UAE is experiencing a wave of showroom openings in 2010 as major international brands move to the region to capitalise on the interiors market in the Middle East, says INDEX 2010.
 
INDEX 2010 Vice President Lu Buchanan said that with international markets still struggling with the economic crisis, interiors manufacturers and suppliers are turning their attention to the region in a bid to gain a stake in upcoming multi-million-dollar regional contracts.
 
"There has been a positive shift in the industry in 2010 that not only has the industry talking but has become evident everywhere you look," Lu said. Major brands which have gained key contracts both via their presence at INDEX and through direct links have recently set up permanent showrooms in the UAE and the Gulf in a bid to win a slice of the GCC pie. In addition, existing showrooms are expanding, refurbishing or taking up more primary showroom frontage."
 
INDEX has experienced huge interest in this year's trade show. INDEX is viewed as a critical platform for exhibitors to sell to the lucrative MENA region and this year's event will feature exhibitors from a wider range of countries including Russia, Japan, Sweden and Turkey, with INDEX including both higher end products and more international diversity than ever before.

Interior design on average makes up between 15 to 20 per cent of the total project value of contracts. With $186 Billion of hotel projects under construction worldwide or planned to begin in the next two years, UAE projects equate to 41% of this figure.
 
The estimated value of interior design contracting projects from 2009 to 2010 in the GCC totaled USD 22 billion. The UAE is a key investment destination as it accounts for two-thirds of the total value of all projects. An expected demand for interior design services (in the UAE) is expected to surge with an anticipated 53.8 billion AED ($14.6B) in interior design contracts and fitouts to be spent in the Emirates within this year (2010). Saudi Arabia, Qatar and other GCC countries also remain important growth areas because of the steady increase in development activities within these markets.

"Despite a market correction, there are still massive business opportunities for interiors companies in the Gulf region. You only have to drive along the Sheikh Zayed Road to see the high number of new showrooms opening or about to open. These range from existing players who previously weren't in such prominent positions - such as Roche Dubois in Dubai - to new brands to the market. Also, you only have to visit any of the recently-opened UAE and Gulf malls to see an increasing number of international brands expanding into the Gulf market." (see below for more details)
 
"At a time when the Euro market is cautious in the interiors sector, the fact that so many companies are prepared to invest in this region and showcasing their products at INDEX is a sure sign that the market is definitely recovering," Lu added.

Showroom activity

On the international front, INDEX premium exhibitor Hansgrohe has opened dedicated showrooms in the UAE (Dubai & Abu Dhabi) with hopes to double sales within the next two years.
 
 "Walking through Dubai's latest mall, Mirdif City Centre, you can see a heightened focus on interior furniture and design stores, from Pottery Barn to Australia's Freedom Furniture, Crate and Barrel to Cilek rapidly expanding across key venues. On Sheikh Zayed Road, a Kitchen and Beyond showroom, representing high-end kitchen company Poggenpohl has also been recently unveiled in Garhoud. This showroom showcases premium products incorporating lean aesthetics, top quality materials and innovation in design to cater for consumers seeking luxury products.
 
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About INDEX 2010
INDEX 2010 is the region's premier design event. Celebrating its 20th anniversary as the longest serving and leading design event in the region, INDEX has worked closely with the design industry to continue to develop and provide a strong design event for the industry. Through comprehensive research, industry partners have helped shape this year's INDEX, which is set to showcase a wider array of product ranges including more cutting-edge design, trends and innovation than ever before.
 
INDEX is anticipating more than 1,000 exhibitors participating from over 50 countries, bringing to Dubai the best the world has to offer in design from November 8-11, 2010.

© Press Release 2010