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Furniture industry in ME continues to grow
By Our Business Bureau December 14, 2017
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DUBAI: The growth of the furniture and interior fit-out industry in the Middle East region, continues to register a strong growth. This strength is driven by innovation and creativity with the greater comfort and convenience provided by the manufacturers to the homeowners.

According to Ventures Middle East research, interior-based design and fit-out spend in the GCC is estimated to touch $17.7 billion this year.

In the UAE alone, the sector is poised for a massive growth due to the delivery of 55,000 new homes in 2017-18, as well as the delivery of 40,000 new hotel rooms in Dubai to boost the hotel inventory to 140,000 rooms and serviced apartments ahead of the World Expo 2020.

Besides, the bulk of the Dhs3 trillion worth of construction projects that will be completed by 2020, there will be an increase with the interiors product demand.

To meet the Middle East region’s rising demand a new home decor and furnishings brand, known as ‘The Home’ has established its first-ever hyper store in the region with an investment of Dhs65 million.

The UAE’s new home-grown brand produces 40 per cent of the bedding mattresses and sofa sets in its factory across the UAE, this will help reduce the country’s dependence on foreign imported products.

The inauguration ceremony for the stand-alone hyper store on Tuesday evening was attended by Sheikh Dr. Majid Saeed Rashed Al Nuaimi, Member of Ruling Family of Ajman, Sheikh Jamal Qassim Sultan Al Banna, CEO, Sultan Group Investment, Sugathan Janardhanan, Chairman and Managing Director, Royal Furniture and Sulin Sugathan, Director, Royal Group, along with other invited government officials.

“We are proud to take our expertise in furniture and furnishings to the next level and expand our ventures in this region with the launch of ‘The Home’. Our vision is to introduce many more stand-alone stores in this region by 2020 and continue to offer on-trend, custom-made and branded furniture,” said Sugathan.

As an introductory offer for consumers to save 5 per cent on value-added tax (VAT), that will be effective from January 1, 2018 the new store is offering 30 per cent discount on all its available products for a week, to help customers visit, plan and purchase their household items at their convenience.

‘The Home’ located in Al Barsha, Dubai will serve as a one-stop-solution for bespoke and specially crafted furnitures that will become paradise for the modern homemaker.

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