- Title: Dubai hosts huge construction show
- Date: 23rd November 2016
- Summary: DUBAI, UNITED ARAB EMIRATES (NOVEMBER 22, 2016) (REUTERS) VARIOUS OF PEOPLE WALKING THROUGH BIG 5 EXHIBITION VARIOUS OF MECHANICAL PARTS ON DISPLAY SAUDI STALL AT EXHIBITION PEOPLE WALKING THROUGH EXHIBITION UNICA STALL PEOPLE WALKING THROUGH EXHIBITION THE WORD 'SHIELD' MADE OUT OF PIPES (SOUNDBITE) (English) DMG EVENTS REPRESENTATIVE, JOSINE HEIJMANS, SAYING: "The Big 5 is there of course already for thirty-seven years. It started off together with the building of Dubai. We started off as a combination of five exhibitions and now we are here in the 37th edition. One of the big changes which we introduced in this year's Big 5 is that we divided the exhibition in five dedicated product sectors. So we have now building interiors, building envelope, mechanical engineering and plumbing services, construction tools and smart building and design technologies." VARIOUS OF SAUDI EXPORTS STALL WHITE PIPES ON DISPLAY VARIOUS OF GREEN PIPES ON DISPLAY SAUDI STALL SCREEN WITH PRODUCTS OF PETROCHEMICAL CONVERSION COMPANY VARIOUS OF 'TAHWEEL' PRODUCT ON DISPLAY SAUDI FLAG (SOUNDBITE) (Arabic) EXECUTIVE SECRETARY OF THE INSTITUTE TO DEVELOP SAUDI EXPORTS, AHMED KAHTANI, SAYING: "The goal is to achieve the vision of the 2030 Kingdom. We are aiming at reaching 50 percent of the national GDP without petrol. Saudi Arabia's participation in international conferences is an important means to promote and market Saudi Arabia's products. This is our fourth time to participate in the Big 5 exhibition. Thank God Saudi Arabia's construction material exports in 2015 reached sixteen billion and 43 percent of these exports were to the GCC.'' VARIOUS OF PIPES ON DISPLAY MURAT URHAN OF ULUSOY WATER PUMPS INDUSTRY SEATING AT STALL ELOFIT PRODUCT ON DISPLAY (SOUNDBITE) (English) ULUSOY WATER PUMPS INDUSTRY REPRESENTATIVE, MURAT URHAN, SAYING: "The Big 5 is one of the big events in GCC, so the starting reason exhibiting in Big 5 is obvious. You can find the new customers in all of the GCC, as well as the dealers, distributors, and end-makers." VARIOUS OF BIG 5 EXHIBITION FROM OUTSIDE
- Embargoed: 8th December 2016 12:44
- Keywords: construction show exhibition Dubai UAE Saudi
- Location: DUBAI, UAE
- City: DUBAI, UAE
- Country: United Arab Emirates
- Reuters ID: LVA00159NYDLH
- Aspect Ratio: 16:9
- Story Text:The Big 5 construction show -- the largest in the Middle East according to organisers -- is underway in Dubai as tough market conditions continue to weigh heavily on the industry.
Consultancy firm Deloitte predicts that contract awards in the Gulf would fall to $140 billion this year, a 17 percent drop on awards last year, as countries in the region grapple with low oil prices.
But despite the difficult conditions the Big 5 is expecting around 75,000 visitors to attend the four-day event, with over 3,000 exhibitors taking part.
"The Big 5 is there of course already for thirty-seven years. It started off together with the building of Dubai. We started off as a combination of five exhibitions and now we are here in the 37th edition. One of the big changes which we introduced in this year's Big 5 is that we divided the exhibition in five dedicated product sectors. So we have now building interiors, building envelope, mechanical engineering and plumbing services, construction tools and smart building and design technologies," said Josine Heijmans from DMG events, one of the show organisers.
Saudi Arabia's market has been hit hardest by tough market conditions, with contract awards set to decline 20% to $40 billion according to Deloitte's GCC Powers of Construction 2016 report.
A record budget deficit of almost $100 billion in 2015 has forced the government in Riyadh to cancel or suspend several projects and delay payments to construction firms, with the likes of Saudi Binladin Group and Saudi Oger severely affected.
Despite the tough conditions, the long-term outlook in the region looks more promising, according to the Deloitte report.
Saudi Arabia is embarking on an ambitious National Transformation Plan and a longer-term Vision 2030, which will see major infrastructure investment to try and wean the economy off its dependence on oil.
"The goal is to achieve the vision of the 2030 Kingdom. We are aiming at reaching 50 percent of the national GDP without petrol. Saudi Arabia's participation in international conferences is an important means to promote and market Saudi Arabia's products. This is our fourth time to participate in the Big 5 exhibition. Thank God Saudi Arabia's construction material exports in 2015 reached sixteen billion and 43 percent of these exports were to the GCC," said Ahmed Kahtani, Executive Secretary of the Institute to Develop Saudi Exports.
Dubai and Abu Dhabi are investing in similar plans, with Dubai set to host the World Expo in 2020 - all of which are expected to benefit construction firms.
A Business News for Construction (BNC) report commissioned by The Big 5 says there is an estimated $400 billion worth of projects currently ongoing in Dubai, although 21% of those are on hold.
The Big 5 takes place at the Dubai World Trade Centre until 24th November. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2016. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None