LIFT CITY EXPO JEDDAH 2023

The 2nd International Exhibition & Conference For ELEVATORS & ESCALATORS Technologies, Attachments, And Accessories

ACCESS THE 3 LARGEST PROJECT MARKETS IN THE MENA REGION 

KINGDOM’S ELEVATORS & ESCALATORS MARKET… A MARKET WORTH INVESTING IN…

The global smart elevator market to grow at a CAGR (compound annual growth rate) of 14.56% during the period 2017-2021 is estimated to be around 750,000 – 800,000 units per annum. With the Kingdom of Saudi Arabia currently blooming amongst the most potential markets in the entire Middle-East Asia region, it stands as one of the largest elevator & escalator markets in the world. Since the VISION 2020-QUALITY OF LIFE was activated, it is expected to grow at a fast pace from 2018.

Triggered by the fast-economic growth, urbanization, and high disposable income, the elevator and escalator market has been on a growth trajectory over the past several years since it related to construction sites also. As also government declared several biggest projects such as NEOM which is known as the world’s most ambitious project. Currently, only the public sector has more than 45 construction projects excluding the private sector. Private sector growth is also being encouraged in the kingdom, which is expected to launch a 72 billion program to support construction. It is also the key component of the Kingdom’s VISION 2030 economic transformation plan. The evolution of expectations and concepts of our home, as well as work and lifestyle spaces, will always influence the growth of the industry.
*Sources: Globenewswire.com & Ministry of Housing – Saudi Arabia

GET TRUE ROI FROM THE MIDDLE EAST ELEVATORS & ESCALATORS MARKET

LIFT CITY EXPO JEDDAH 2023 “The 2nd International Exhibition & Conference For ELEVATORS & ESCALATORS Technologies, Attachments, and Accessories”, has the honor to welcome you once back again, after the overwhelming success of the 1st round on Y2017 which witnessed:

JEDDAH COMPETING FUTURE … KINGDOM’S VISION

The Saudi economy has witnessed growth in a large number of sectors, taking advantage of the natural resources in the Kingdom and its geographical and cultural position between the three continents. This growth resulted in building a solid economic base, becoming one of the twenty largest global economies and an active member of the G20. Saudi Arabia is one of the main players in the global economy and global oil markets, supported by a strong financial system, an effective banking sector, and giant government companies based on highly qualified Saudi talents. ​The Kingdom has witnessed economic and financial structural reforms which promote economic growth while preserving stability and financial sustainability.

This is evident in the improvement of the business environment in the Kingdom, and the continuous endeavor to enable the private sector to support economic diversification and overcome obstacles to make it more attractive to invest in previously untapped sectors. In order to develop and diversify the economy and reduce dependence on oil, Saudi Arabia launched Saudi Vision 2030; built on several economic and financial reforms, which aim to transform the structure of the Saudi economy into a diversified and sustainable economy focused on enhancing productivity, increasing the contribution of the private sector, and empowering the third sector. Since the launch of the Vision, Saudi Arabia has succeeded in implementing many initiatives and structural reforms to enable economic transformation.

This transformation included several major efforts centered around enhancing local content, national industry, launching and developing promising economic sectors, and an enabling dimension aimed at maximizing the role of the private sector and SMEs and enhancing the sustainability of public finances. These structural shifts have contributed to strengthening the Kingdom’s economy and its ability to combat the Covid-19 pandemic in 2020. It is expected that the pace of this structural transformation will continue in the coming years, in light of a number of investment initiatives under the Public Investment Fund and leading companies. It is also expected that the localization of knowledge and innovative technologies will accelerate.

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Jeddah Hilton – Kingdom Of Saudi Arabia

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