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Saudi Arabia’s population is growing at more than 3% a year and enjoys steadily rising disposable income. Together, these two factors have spurred an unsurpassed construction boom in the kingdom. Over the next few years, more than half a million housing units are going to be constructed in the Saudi capital Riyadh alone. Add to that innumerable shopping malls, business and leisure centers, hotels, supermarkets, schools and restaurants. Thanks to the rising liquidity in Saudi Arabia, the owners of these houses, apartments and other buildings are ever more likely to spend on top-notch air conditioning, ventilation, heating and refrigeration systems and products, and to spend generously. Saudi Arabia’s hot, arid climate is of course helping to propel the trend.

Although the kingdom does produce air conditioners domestically, it satisfies much of the skyrocketing demand for all kinds of temperature-control products through imports. So, as demand soars, a unique investment window of opportunity has been created for air-conditioning players from across the region and the world. Nowhere in the region is the market for all kinds of air-conditioning, ventilation, heating and refrigeration products bigger, or growing faster. In fact, the Saudi air temperature control market is one of the most significant in the world. Saudi Arabia’s air-conditioning base grows by 724,000 units — or 6% — every year. The current air-conditioning market is valued at over half a billion dollars. If you attend Saudi Aircon 2008, in the Saudi capital Riyadh, you are going to find yourself at a global business crossroads, right at the epicentre of one of the most potential-filled air conditioning markets in the world.

Foreign investors hoping to gain a foothold in Saudi Arabia’s attractive, flourishing air temperature control market will be buoyed by a variety of investor-friendly initiatives launched by the Saudi government in a bid to draw in outside investment. In addition to strongly promoting joint ventures between Saudi and foreign companies, the Saudi government has pioneered a host of investor-friendly finance options and has granted a series of generous, investment-fuelling subsidies.