Ramadan boosts Saudi domestic furniture demand
Sources at the local furniture market said that the domestic demand for furniture usually rises noticeably in all the regions of Saudi Arabia during the Holy Month of Ramadan. The Director General of the Furniture Houses Company, a leading Saudi furniture manufacturing and trading company, Zamil Al-Zamil, said that his company’s furniture sales expanded by nearly 55 percent in the beginning of the Ramadan.
Al-Zamil, said that the Saudi spending on furniture continues to rise on a regular basis. An average Saudi family spends nearly 3 percent of its annual income on furniture purchases. A typical Saudi family renews its furniture every 5-7 years. A typical Saudi high-income family renews its furniture every 3-5 years.
In addition, Al-Zamil said that 134 furniture-manufacturing factories are operating in Saudi Arabia. These factories produce more than 35,000 tons of furniture per annum. These plants employ more than 11,000 workers. The locally produced furniture cut the furniture imports into Saudi Arabia by 30 percent this year.
Local market sources estimate the value of the furniture market in Saudi Arabia at 3 billion Saudi riyals ($800 million). The growth rate of this market is assessed at 4 percent. The investments in the Saudi furniture industry exceeded SR 2 billion in the recent years. The national furniture output satisfies 35 percent of the local consumption. — (Albawaba-MEBG)