The Kingdom of Saudi Arabia is ranked as the largest educational investor in GCC (Gulf Cooperation Council) countries with educational development projects worth $3.26 billion expecting completion in 2012.
Qatar is the second largest with educational developmental projects worth $1.05 billion reaching completion in 2012. Kuwait ranks third in terms of educational project completion with total projects worth $503 million, followed by United Arab Emirates (UAE) and Oman with projects worth $289 million and $225 million, respectively, a new research by Ventures Middle East revealed Sunday.
Bahrain has had a moderate amount of educational development projects worth $56 million expecting completion in 2012.
Also Saudi Arabia and Qatar lead the in the education interiors contracting and fit-out sector with investments of $261 million and $84 million respectively, surging ahead of Kuwait and UAE with investments of $40 million and $26 million, respectively.
Moreover, Qatar, with an investment of $192 million, and Saudi Arabia, with investments worth $145 million, have bagged the largest shares of the healthcare interiors contracting and fit-out segment in 2012, surging ahead of UAE and Oman investments of $119 million and $13 million, respectively.
As of September 2012, the growing market of Qatar is the emerging leader in terms of project completion, with total healthcare projects worth $2.4 billion expected to witness completion by year end; representing a 40 percent share of the total GCC medical projects expected for completion in 2012.
Following Qatar, Saudi Arabia and UAE healthcare projects expected to complete in 2012 are worth $1.8 billion and $1.49 billion respectively, ranking as second and third largest spenders of healthcare in the GCC with a 30 percent and 25 percent market share respectively. Oman, Kuwait and Bahrain account make up the balance with 3 percent, 1 percent and 1 percent, respectively.
As a whole, the interiors contracting and fit-out developments in the GCC healthcare sector is estimated to earn $474 million on projects worth $5.9 billion, expected to complete by the end of 2012, while the interiors contracting and fit-out developments in the GCC educational sector is expected to earn $431 million on projects worth $5.3 billion expected to be completed in 2012. The new research was commissioned by Dmg: events, the organizing team of the four-day "Index International Design Exhibition", the Middle East and North Africa's largest and longest established Interiors and Design Exhibition, that opens Sept. 24th at the Dubai World Trade Centre.
"The new data confirm that investments in the GCC interiors contracting and fit-out market remain healthy across various sectors," said Frederique Maurell, Index Event Director.
"Healthcare and education are of primary focus of investment in GCC countries, reflecting sustainable balanced economic development.
This year, the event has more exhibitors turning their focus toward the education and healthcare interiors sector than ever before in the 22 year history of the show.
"This is indicative of the growth and demand for this specialist fit-out across the region and provides an unrivalled opportunity for developers within these sectors to access the latest designs and trends from renowned interior designers and manufacturers from across the world," he added.
More than 900 companies will be present at the 22nd annual Index International Design Exhibition, with more than 45 countries will be represented at this year's show, including national pavilions from Japan and Canada, both exhibiting for the first time at the show.
Index 2012, themed "Where Inspiration Thrives", covers 34,000 sqm gross space of the Dubai World Trade Centre exhibition center, occupying halls from 1 to 8 and Zabeel Hall.
Index 2012 will replicate the successful and easy-to-walk-around product specific show structure that was introduced for last year's edition; plus four completely new sectors - inspire, surface & finishes, couture, and furniture - have been added to the six already existing - furnishings, kitchen & bathroom, lighting, outdoor living, retail and textiles - giving visitors an even more comprehensive and extensive offer.
"The education sector in the GCC is witnessing a period of tremendous growth. Rising population, higher income levels and an increasing awareness of quality education has resulted in a positive outlook for this sector. While a number of challenges like shortage of skilled teachers, high initial investment and running costs exist for investors, the education sector continues to be an attractive investment option," said Rohit Walia, Executive Vice Chairman and Chief Executive Officer, Alpen Capital Group.