$5.6 million furnishing Saudi Humanitarian Services City
Two Saudi companies, Hoshan and Al-Makateb, have recently won contracts to provide and install office and medical furniture in the Emir Sultan Humanitarian Services City, reported Al-Hayat daily.
Nine local companies had submitted bids for these contracts. worth a total of $5.6 million, issued by the Administrative Authority of the Emir Sultan Bin Abdul-Aziz Al-Saud Charity Association in Saudi Arabia.
The Saudi furniture industry is the largest in the Middle East. Sixty percent of the industry is related to household furniture while the other 35 percent is office furnishings.
The dramatic increase in crude oil prices as well as a high population growth rate in the kingdom, estimated at 3.4 percent, are cited as the major factors contributing to the sector’s expansion. Demand is expected to increase also as a result of numerous new construction projects initiated throughout the country, both residential and commercial.
However, the Saudi furniture industry is closely watching the rising demand for American furniture. American goods tend to be preferred by upper-middle to high-income Saudis and expatriates, and by the younger Saudi generation. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)