Exhibition time: November 18-21, 2024
Exhibition venue: Dammam International Exhibition Center, Saudi Arabia
Organized by Dammam DIEC Exhibition Company, Cidex is one of the leading architecture, architecture and interior design events in Saudi Arabia and is held annually.
The last edition of the Cidex attracted 140 exhibitors, 18,000 visitors, and an exhibition area of more than 7,200 square meters, showcasing the products, equipment and services required for architecture and construction, as well as the design, renovation and upgrading of residential, hotel, office and retail spaces.
From November 18 to 21, 2024, the Saudi (Dammam) Building Materials and Interior Decoration Exhibition (CIDEX) will be held at the Dammam International Exhibition Center, which is expected to attract more than 200 exhibitors and more than 20,000 visitors.
Market opportunity
Saudi Arabia's Vision 2030 sets out strategic initiatives to reduce the country's dependence on oil and develop public services such as infrastructure, recreation, tourism and education. The value of the construction projects being planned and ongoing in the country amounts to 1$5 trillion, with an estimated investment of about $10.7 billion in residential and commercial projects alone. Under the Eskan project of the Ministry of Housing, it is planned to build 500,000 housing units.
In addition, a budget for 1,500,000 homes over the next five years has been allocated, which will lead to a surge in interior design services and renovations across the country. The Saudi Arabian construction market is currently valued at $64 billion and is expected to grow at a rate of $5 billion during the period8% CAGR growth. By 2022, the number of buildings built in the Kingdom will grow by 32%。For the fourth year in a row, Saudi Arabia is the strongest market in the MENA region, with the most project awards and the highest overall value. As of October 2022, Saudi Arabia has a 35% market share and has won $31 billion worth of contracts, compared to $87 billion for the entire Middle East and North Africa region.
In order to achieve Saudi Vision 2030 and promote the diversification of the Kingdom's economy, Saudi sovereign wealth** (PIF) launched five mega projects worth more than US$1 trillion a few years ago, and developed a series of sub-projects, collectively known as the "GIGA Project". These 5 mega projects include:1Red Sea Project, 2Neom Project, 3Qiddiya project, 4Roshn Project, 5Diriyah project.
As part of the Kingdom's massive transformation plan, the kingdom expects to deliver more than 555,000 homes, 275,000 hotel rooms, more than 4.3 million square meters of retail space and more than 6.1 million square meters of new office space by 2030.
Chinese products have strong development potential in Saudi Arabia and have strong upside. This includes $5.5 billion in new roads, $1 billion in school additions, $4.5 billion in basic fitness centers, $117 billion in power grid construction and expansion, and $5 billion in communications projects.
Through grand planning, abundant capital and firm confidence, Saudi Arabia is giving full play to the role of infrastructure construction projects in stimulating the social economy, bringing unlimited opportunities for Chinese hotel and interior decoration industry enterprises to enter Saudi Arabia.