Gulf construction boom to fuel HVACR investments
SAUDI ARABIA: GCC investments in HVACR systems over the next decade will exceed $68bn, with Saudi Arabia accounting for over 50% of the total.
The claims are made in a new report by DMG events, organisers of the upcoming HVAC R Expo Saudi, and Middle East project tracking company MEED Projects.
“On the back of a construction boom in the country, Saudi Arabia alone represents over 50% of the total needed investments for HVACR solutions in the GCC over the next 10 years, with $34bn worth of systems expected to be installed in that time,” said HVAC R Expo Saudi event director Roni El Haddad.
“As demand increases the market will need to develop in line with government goals such as energy conservation and smart initiatives, making it the perfect time for the local and overseas industry to gather under one roof at HVAC R Expo Saudi,” he added.
Taking place from February 11-13, 2020, at the Riyadh International Convention & Exhibition Centre, HVAC R Expo Saudi will feature 80 exhibitors from around the world.