Companies chase $37bn GCC hotel fit-out deals

TRUMP CARD: A boom in hotel construction in the GCC including the Trump International on Palm Jumeirah has created a $37 billion industry for interior fittings.

Research suggests that $37 billion worth of fit-outs will be awarded between now and 2010 in the region, led by the UAE where the number of hotels being built has mushroomed.

"The peak in construction projects across the Gulf Co-operation Council (GCC) countries comes at the end of an aggressively steep three-year climb but as the initial construction phase slows down, budgets for the interior fitting out of hotels and resorts kick in and are set to increase tenfold across the region by 2010."

Database analysis by research company Proleads shows that, led by development in the UAE, spending across the GCC on hotel and resort fit-outs, including furniture and fixtures, electrical, systems integration, AV, kitchen and laundry equipment, sanitary and light fittings, is on track to hit in excess of $37 billion between now and 2010.

"The massive increase is led by the UAE where spending on hotel fit-outs is set to hit $2 billion this year, much of which is in Dubai," said Moore. "But even this figure will rise steeply in 2009 to $12 billion and $17 billion by 2010 – a cumulative total of $31 billion - as more projects near completion."

(Source: www.arabianbusiness.com)