Dynamic UAE construction sector helps drive demand for luxury home furnishings – News

UAE Minister of State for Foreign Trade inaugurates Dubai WoodShow 2022; Companies from Europe, Asia and the Americas will highlight new products and services during the three-day show

Thani bin Ahmed Al Zayoudi, Minister of State for Foreign Trade of the United Arab Emirates, on a tour of the stands at the Dubai WoodShow 2022. — Photo provided

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Published: Tue, March 15, 2022, 5:35 PM

Thani bin Ahmed Al Zayoudi, UAE Minister of State for Foreign Trade, on Tuesday opened the Dubai WoodShow 2022, which will run until March 17 at the Dubai International Convention and Exhibition Centre, with the participation of 400 companies from 41 countries.

At the show, a large number of machines from Canadian, European, Chinese and American manufacturers were on display, targeting wood mills not only in the UAE, but also in other parts of the MENA region.

The show attracted a number of end users looking for wood products to meet their needs.

A wide variety of tradespeople, architects and decision makers from the entrepreneurial, environmental and other relevant sectors visit the show to review offerings from some of the world’s leading timber and machinery companies. of work. Participating companies from key regions such as Europe, Asia and the Americas showcase their respective products and services in Halls 6, 7 and 8.

According to show organizers, more than 400 companies are attending this year’s show, also expressing optimism that Dubai Woodshow will be used as a key platform to discover new opportunities, forge long-term partnerships and leverage new ones. markets.

Meanwhile, the buoyant construction industry in the UAE is seen as helping to drive the demand for luxury home furnishings. Based on data published by Dubai Woodshow, the country’s construction and development market is expected to be valued at $133.53 billion in 2026, reflecting a compound annual growth rate (CAGR) of 4.6% over the next four years, further prompting industry experts to be optimistic about the increased demand for luxury home furnishings products over the same period – growing at a CAGR of 2.5% from 2021 to 2026 .

The growing number of construction and development projects in the country plays a key role in increasing the demand for luxury home furnishings. In addition, the government’s decision to roll out new initiatives aimed at developing the tourism and hospitality segments will also prove to be an important factor in the growth of the luxury furniture segment.

Dawood Al Shezawi, President of Strategic Conferences and Exhibitions, organizer of the show, said: “In an effort to make this year’s show more exciting, we have added new additions to the event including the 1st innovation and excellence for the wood and woodworking industry, a B2B matchmaking program and a hosted buyer program.

“Dubai Woodshow is a must-attend event for wood specialists around the world. We remain steadfast in our commitment to position the event as a strategic platform for buyers and sellers to connect and forge key partnerships that will eventually lead to long and strong business relationships,” he concluded. .

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