10th Decofair opens doors in Riyadh today

The event, which is being held for the first time in the Saudi capital, is expected to attract a huge number of exhibitors.
Updated 04 February 2019

10th Decofair opens doors in Riyadh today

The 10th edition of Decofair, an exclusive furniture and design exhibition, kicks off today at the Riyadh International Convention and Exhibition Center, under the patronage of Prince Sattam bin Khalid bin Nasser. The event, which is being held for the first time in the Saudi capital, is expected to attract a huge number of exhibitors.
Director of Decofair Sherine Kerkadan said that she hoped the ideas and experiences at the event are translated into practice through the establishment of branches for the participating companies in Saudi Arabia, in light of the availability of manpower, the Kingdom’s location and access to raw materials at a competitive cost.
“The opportunity to meet these unique international companies of lighting, furniture, design materials and services and home décor under one roof provides a unique business platform to create an investment atmosphere that contributes to supporting and enhancing several areas based on this fair and its mission,” she added.
Decofair attracts national, regional and global attention of many Saudi and international manufacturers of furniture and furnishings. The fair will be held from Feb. 4-6, with the participation of 10 countries and more than 125 brands.
The previous nine editions of the exhibition were held in Jeddah.
Decofair represents an effective business platform for trade cooperation and exchange of experiences, which comes within the framework of boosting the aspirations of the Saudi market and in line with Saudi Vision 2030.
Studies reveal that the Saudi furniture market will see considerable competition as the number of housing units increase, which in turn will increase the demand for furniture, decoration, lighting and accessories.
The Kingdom is expected to account for 12 percent of the total furniture trade in the Middle East region with a value amounting to $100 billion by 2020.
According to the General Authority for Statistics, the number of Saudi families increased to 3.6 million by mid 2018, increasing the number of housing units — whether owned or leased — at a rate of 3.43 percent compared to mid 2017. The rate of housing units, whether owned or leased by Saudi families was 60.49 percent, a figure that will increase the demand for furniture, furnishings and decoration. Decofair is attended by international companies from several countries including Portugal, Italy, India, Poland, Slovenia, Ghana, Hong Kong, China, Jordan and Bahrain as well as Saudi companies. In addition to industrial opportunities, the event will also promote cultural diversity.

Ma’aden acquisition supports Vision 2030

Updated 24 April 2019

Ma’aden acquisition supports Vision 2030

The acquisition of an African fertilizer distribution company by Ma’aden, the largest Saudi mining company, will advance Ma’aden’s Strategy 2025, which includes plans to expand operations in the Kingdom and grow sales globally. The acquisition will also support Saudi Arabia’s Vision 2030, which seeks to diversify the economy, increase non-oil exports, boost the Kingdom’s non-oil GDP, and reinforce the mining sector as the third pillar of Saudi industry, after oil and gas and petrochemicals. 

Ma’aden will make its first international acquisition with the purchase of the Mauritius-based Meridian Group, which is due to be completed by September for an undisclosed fee.

The publicly-listed Saudi mining company will acquire an 85 percent stake in the company in an all-cash deal that will provide one of the Middle East’s largest phosphate producers with 3,000 staff and a network of operations across southern Africa, from Malawi to Mozambique, Zimbabwe and Zambia. Phosphate is used to produce fertilizer that is essential in replacing the phosphorous mineral that is removed from soil when agricultural crops are harvested. 

“This acquisition marks a very important step in Ma’aden’s strategy to build global distribution channels for our fertilizer products,” said Darren Davis, president and chief executive of Ma’aden. “As we continue to build one of the largest producers and exporters of phosphate fertilizers in the world, ensuring an efficient route to key growth markets is critical to our success.” 

Agriculture forms a significant portion of the economies of all African countries. As a sector, it can therefore contribute to major continental priorities, such as eradicating poverty and hunger. The agri industry can also boost intra-Africa trade and investments, rapid industrialization and economic diversification, sustainable resource and environmental management, and create jobs, human security and shared prosperity.

The Southeast African market, like most of the African continent of 1 billion people, is experiencing increased demand for phosphate fertilizers which industry analysts expect to continue growing by 5 percent annually over the next decade, fueled by population growth and increasing education in the use of fertilizers.

“Ma’aden is acquiring unparalleled access to complementary distribution, blending and product-development capabilities in this fast-growth region,” said Hassan Al-Ali, Ma’aden’s senior vice president for phosphate. “This transaction will provide us with logistics advantages in Southeast Africa, and greater knowledge of on-the-ground customer requirements, both of which will be instrumental in better serving our customers.”

The Saudi global mining giant will secure the remaining 15 percent of Meridian’s equity over four years on agreed terms linked to the performance of the African company, which distributes approximately half-a-million tons of fertilizer through its network of granulation and blending plants, warehousing complexes and port facilities. 

HSBC acted as Ma’aden’s financial adviser on the deal and Baker McKenzie was the Saudi company’s legal adviser for this acquisition.