UAE Interior Fit Out Market was valued at USD1589.01 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 4.85% owing to growing urbanization, rising disposable income levels, etc.
The term "Interior fit out" refers to preparing an interior area for use. It refers to renovating, building, decorating, or furnishing an interior to meet occupancy regulations. Interior fit-outs are critical in meeting the specific requirements of a commercial, residential, retail, or corporate facility. Installing floors, ceilings, partitions, furnishings, or any other alterations to the interior of a building are all examples of fit-out tasks.
Rising Focus on Outsourcing
Traditionally, UAE buildings were completed for occupation by construction project managers without the need to recruit Interior Fit Out qualified professionals. Consumer preference has shifted in recent years toward a healthier, more sustainable, and digitally integrated interior environment. Moreover, several municipal and regulatory bodies have established and implemented Interior Fit Out Guidelines and Green Building laws. All these issues have compelled builders and owners to outsource the task of interior fit out to licensed practitioners to ensure that rules are followed and consumer preferences are met.
Surging Foreign Direct Investment
The UAE cabinet has approved Foreign Direct Investment in the country in two modes, namely as LLC (Limited Liability Company) and as 100% Business Ownership by the investor in Free Trade Zones, to make the UAE's business environment investor-friendly and with a vision to boost the country's economy with foreign investments. The various tax breaks in the Free Trade Zones and the ease of obtaining a visa have helped to attract foreign investment. In 2021, FDI was USD20.69 billion, placing the country sixth in the world in terms of attracting FDI. Demand for residential units, office space projects, and refurbishments is expected to rise because of these investments, boosting the UAE Interior Fit Out Market.
Booming Tourism & Hospitality Sector
Due to the country's massive investments in infrastructure development, which primarily comprises the development of infrastructure for hospitality and leisure, Dubai's tourism and hospitality sector has been on an increasing trend. These developments increased the number of tourists and prepared the country for the Dubai Expo 2020 event, which ended in March 2022 and attracted foreign investment. The UAE Tourism & Hospitality sector is being bolstered by initiatives like the 'Dubai Tourism Strategy 2025' and the 'Dubai 2040 Urban Master Plan,' which aim to increase tourist footfall in Dubai by 134 percent, while also expanding the country's Tourism & Hospitality Infrastructure. In the Travel & Tourism Sector, according to the World Travel and Tourism Council, in 2027, the UAE is predicted to produce revenue of roughly USD72 billion, with a contribution of 12.7 percent to GDP.
Browse Full Reports : https://www.techsciresearch.com/report/uae-interior-fit-out-market/1375.html
Growing Smart Cities Concept
The UAE plans to establish several Smart Sustainable Cities around the country, in line with the 'UAE Vision 2021' and city-level policies such as the 'Dubai 2040 Urban Master Plan' and the 'Abu Dhabi Economic Vision 2030,' all of which aim to promote sustainable infrastructure. Smart cities are defined by the UAE as environmentally friendly urban projects that are technologically integrated with advanced ICT (Information and Communication Technology) and the Internet of Things (IoT). The UAE has made significant progress in constructing smart cities, with major initiatives like Abu Dhabi's Zayed Smart City Project, Dubai's Sustainable City Project, and Abu Dhabi's Masdar City Project, among others. In addition, Dubai created 30,000 residential units in Desert Road City for Emiratis and expatriates with the goal of reducing electricity use. By 2030, the UAE wants to cut its carbon impact by 30%. As a result, the country's planned smart sustainable towns are being built to meet with Green Building Regulations. Such aims are likely to create a plethora of opportunities for UAE interior fit-out companies, particularly those specializing in green buildings.
Click here to download the sample
Market Segmentation
The UAE Interior Fit Out Market is segmented based on Application, Ownership, Region and Company. Based on Application, the market is further fragmented into Residential, Hospitality, Commercial, Retail, Education, Healthcare and Others. Based on the Ownership, the market is segmented into Self Owned and Rented. On the basis of regional distribution, the market is divided among Dubai, Abu Dhabi, Sharjah and Other Emirates.
Company Profiles
Bond Interiors LLC, A&T Group Interiors, Al Tayer Stocks LLC, Horton Interiors, Kinnarps Project Solutions LLC, Summertown Interiors, BW Interiors, Al Nabooda Interiors LLC among others are the major market players in the UAE Interior Fit Out Market.
Press Release : https://www.techsciresearch.com/news/7300-uae-interior-fit-out-market.html
About TechSci Research
TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies, and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global, and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com
Our Blog: https://techsciblog.com/
