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UAE’s vibrant construction industry helps drive up demand for luxury furniture products

UAE Minister of State for Foreign Trade Inaugurates Dubai WoodShow 2022; Companies from Europe, Asia, and the Americas to throw the spotlight on newest products and services during show’s three-day run

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

At the show, a huge number of machineries from Canadian, European, Chinese and American manufacturers were on display, targeting timber factories not only in the UAE but also other parts of the MENA region.

The show has attracted a number of end-users who are on the lookout for timber products that fit their requirements.

A large variety of traders, architects and decision-makers from the contracting, environment and other relevant sectors are visiting the show to look into the offerings of some of the world’s premier companies in the field of wood and working machinery. Participating companies hailing from key regions like Europe, Asia, and the Americas is throwing the spotlight on their respective products and services across halls 6, 7 and 8.

According to the show’s organizers, more than 400 companies are participating at this year’s show, also expressing bullishness on using Dubai Woodshow as a key platform to discover new opportunities, forge long-term partnerships, and tap into newer markets.

Meanwhile, the UAE’s vibrant construction industry is seen to help drive up the demand for luxury furniture products. Based on data released by Dubai Woodshow, the country’s construction and development market is being forecasted to be valued at $133.53 billion in 2026, which reflects a compounded annual growth rate (CAGR) of 4.6 per cent in the next four years — further prompting industry experts to be bullish about the increased demand for luxury furniture products over the same period — seeing a CAGR of 2.5 per cent from 2021 to 2026.

The increasing number of construction and development projects in the country is playing a key role in driving up the demand for luxury furniture products. In addition, the government’s move to roll out new initiatives aimed at developing the tourism and hospitality segments will also prove to be a significant factor in the growth of the luxury furniture segment.

Dawood Al Shezawi, president, Strategic Conferences and Exhibitions, organiser of the show said: “Looking to make this year’s show more exciting, we have added new additions to the event, including the 1st Innovations and Excellence Awards for the Wood and Woodworking Industry, a B2B Matchmaking Programme, and a Hosted Buyer Programme.”

“Dubai Woodshow is a must-attend event for wood specialists from all over the globe. 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 eventually will lead to long and strong business relationships,” he concluded.

— business@khaleejtimes.com