Hani Abu Ras, mayor of Jeddah, opened the 23rd edition of the Saudi Building and Interiors Exhibition (SBIE) in the presence of a number of dignitaries from the industry at Al-Harithy Events Exhibitions Center.

The show will continue till May 14.

Al-Harithy Company for Exhibitions (ACE) is organizing the show with the support of the Ministry of Municipal and Rural Affairs.

Nearly 200 leading manufacturers, agents and distributors from Bahrain, China, Egypt, Lebanon, Malaysia, Morocco, Tawian, Turkey, UAE, and the UK, are showcasing an extensive range of the latest building materials, construction equipment, wood machinery, interior furnishings and other products.

The show is open from 5:00 p.m. to 10: 00 p.m

This year the event includes School and Health Build.

“Saudi Arabia is emerging as the fastest growing construction market in the world. All signs confirm that the construction sector is receiving the greatest amount of investment out of all sectors, ” said Hani Abu Ras. He stressed that this year, there is a general Saudi tendency toward expansion and development, particularly in the construction sector.

He said the Saudi government has exerted significant effort to boost this sector.

He said such events will strengthen the economy of Saudi Arabia. The 9th Development Plan with $650 billion, acts as a catalyst for its on-going ambitious program for building and construction, and expanding the infrastructure across the country.

Almost 50 percent of the Kingdom’s 2013 budget is allocated for capital investment projects, underscoring the government’s determination to improve critical infrastructure and diversify the economy.

Zahoor Siddique, vice president-exhibitions of ACE, said the Saudi Building & Interiors Exhibition 2014 tends to add impetus to the building and construction sector of Saudi Arabia.

“This show offers a comprehensive range of construction and building materials. The event strives to offer complete information about the recent inventions made in the construction and interior decoration industries,” he said.

He added: “We create the B2B opportunities and international companies who specialize in the sector can explore the opportunities in Saudi Arabia by finding available partners here.”

Some predictions suggest that private sector investment in different real estate projects in the Kingdom might reach over SR230 billion by 2017, creating new and lucrative business opportunities in the promising construction market.