gulfBid 2008 Press Conference – Welcome Address – Jubran Abdulrahman

On behalf of our joint venture partners dmg world media and Al Hilal Group, I am delighted to welcome you to the final gulfBID 2008 Press Conference.

gulfBID 2008 is the third show resulting from Hilal Conferences and Exhibitions’ close collaboration with dmg world media. The exhibition is now established as the leading building and interiors exhibition for the Northern Gulf region. The continued pace of development is Bahrain, Kuwait, Qatar and Saudi Arabia is now outstripping whatever has been happening in the lower Gulf and Bahrain is perfectly placed at the heart of this region. In Saudi Arabia, to which we are linked by road, developments are taking place which will offer massive opportunities in the construction and interiors sectors. Apart from the $26 billion King Abdulla Economic City north of Jeddah, a further 5 Saudi Economic Cities are being created. According to the Saudi Arabian General Investment Authority (SAGIA) businessmen can look forward to $300 billion worth of opportunities in various fields which include steel, glass and ceramics in these six cities.

In Yanbu Industrial City 2, private investment is expected to exceed $25 billion over the next 10 years. Individual projects recently announced included the building of an aluminium smelter at Ras Az Zour, on the east coast of Saudi Arabia, which will produce 720,000 tonnes of aluminium per year, using locally mined bauxite from Al Zabirah in the north of the Kingdom. This will be complemented by the $5 billion aluminium smelter being built on the west coast at the King Abdullah Economic City. Private investment of over $36billion will be invested in the second, third and fourth phases of Jubail Industrial City over the next 12 years, and the Saudi Electricity company plans to invest over $51 billion over the next seven years to increase generating capacity by 60%.

In Kuwait, the largest single real estate development in the Middle East, the $77 billion “City of Silk” is being planned at Subbiya near the Iraqi border. This project alone provides huge opportunities for the building and interiors sectors of the market over the next twenty years.

Qatar is in the Middle of a $83 billion five year hydrocarbons programme which added to the country’s ongoing oil and gas related projects which include new LNG plants, will continue to fuel a construction boom for years to come.

Here in Bahrain, billions of dollars are being committed to the development of new infrastructure as the country develops it’s master plan covering industry and tourism. 28 companies have already signed leases for ventures in the Bahrain International Investment Park. $20 billion of work is underway in the private sector on the Manama North Shore. Estimation of a massive increase in the population of Bahrain to almost 2 million by 2030 will add impetus to the country’s vibrant construction and interiors sectors. Plans for new steel plants and mills will also support the country’s construction boom.

All of this regional and local development makes Bahrain the ideal venue for an international exhibition such as gulfBID. The Kingdom’s strategic location coupled with it’s business friendly environment makes it a perfect meeting point for international and regional business professionals. gulfBID has over the past 3 years provided a superb venue and our 2008 show promises to continue the success of our two previous events.

For this year we are delighted to welcome over 200 companies from 22 different countries including the UK, Germany, Cyprus, Greece, Lebanon, Turkey, Malaysia, Spain, China, the Philippines and Thailand. This year our exhibition has grown significantly and we are hoping to attract over 5,000 professional visitors many of whom will come from the economic powerhouse of this region – Saudi Arabia.  More>>

“It [gulfBID] will continue to provide the local and regional market with the most up to date and sophisticated construction materials from the world’s leading suppliers and service providers” - Middle East Interiors – April 2007

“Sheikh Khalifa expressed his admiration for the exhibition because it showcases creative products and furniture items and hailed the private sector’s initiative and its keenness to take advantage of the many incentives and facilities provided….Sheikh Khalifa also hailed the ‘honourable standard of gulfBID 2007 and the massive participation it has attracted’ as he toured the exhibition” - Gulf Daily News – May 2007