Saudi furniture market estimated at SR 4 million
Local market sources estimate that the average Saudi family spends an annual $30,000 (120,000 Saudi riyals) on furniture for their homes. A typical Saudi family renews its furniture, either partially or entirely, every 3-5 years.
The furniture industry in Saudi Arabia is presently experiencing a noticeable recovery. The recently improving competitiveness of available furniture products on the one hand and rising purchase power of Saudi customers on the other have boosted local demand for furniture. Along with a 3.8 percent local population growth rate, the increase of the per capita income to SR 29,700 ($7,920) has had a positive impact on the domestic demand for all types of furniture.
The Director General of Al-Manea Furniture Industry Company, Abdullatif Al-Manea, estimated the value of the Saudi furniture market at SR 4 billion per annum. Al-Manea added, that the 66 operating national furniture manufacturing factories in Saudi Arabia control nearly 50 percent of the local furniture sales. The rest of the market is accounted for by foreign brands. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)