Saudis are spending 10 times more on interiors than a year ago, as they seek to add value to their property investments according to the Middle East's largest private developer DAMAC Properties. A report by Ventures Middle East predicts that Saudi's interior spending in 2011 will grow to.29 billion, up from SR127.5 million last year. The same report also forecasts spending on interiors will rise by a further 71 percent in 2012. “We are now seeing a very strong trend in spending on interior design. As the largest private developer in this region, we have recognized this strategic opportunity and have partnered with Italian fashion brand Versace to develop the first Versace-branded apartments in Saudi Arabia” said Ziad El Chaar, Managing Director of DAMAC Properties. Saudi Arabia is forecast to become one of the best performing real estate markets in the world in 2012, according to DAMAC Properties. Whether a property is being purchased as an investment or as a place to live, distinguishing features are becoming increasingly important to ensure the value of the property continues to grow. After location and internal floor space, interior design can be a defining factor in the purchase decision. “Investors and homebuyers are searching for something unique, and our partnership with Versace creates a point of difference compared to other residential properties on the market” he added. In the Kingdom, opulence defines the customer's taste for residential property interiors. DAMAC's Al Jawharah project would surpass the expectations of the Kingdom's social elite and even the most discerning luxury connoisseur. “We recognize that interior design is one of the major reasons a customer chooses a particular apartment over another with similar specifications.”
