Construction Mirror Event Report Details

8th Srilanka Buildcon International Expo – The Platform of Business Excellence for Architecture, Building – Construction, Machinery & Heavy Equipment Industry

July 12, 2019

Industry at a Glance

The performance of construction industry is generally considered as a benchmark of economic development for any given country. If we analyze Srilanka in terms of Future prospects for Building-Construction and allied industries, the future certainly looks bright. The construction Industry in Srilanka accounts for 9% of the SriLankan Market has witnessed a wave a renewed growth in its construction Industry. The total annual turnover has been around Rs.800 Billion in last financial year. The main factor has been the support provided by combination of Mega Projects under Private Public Partnership. As these key projects starting to materialize the total turnover is expected to rise by 10-12% annually for the next decade. Apart from mega projects, there has been significant rise in number of tie ups with International Partners for Infrastructure projects and other construction activities as well. As a result of increased activity in the sector, Market has witnessed strong demand and increased public Investment in recent years.

After witnessing a brief slowdown in 2015, the sector once again is enjoying double digit growth, possessing a strong order book with an increased inflow of International investors. The government has undertaken new initiatives under public private partnership including Housing for all, National & State highways/Waterways and other key infrastructure projects.

Opportunity for The Industry

Srilanka certainly offers significant untapped opportunities, Building and Construction activities are on rise in South East Asia and the trend is applicable to Srilanka as well. Srilanka attracts approximately 8 million tourists annually, in order to further strengthen their tourism industry there is a special focus on development of high-quality Infrastructure, Hence the region certainly offers enormous opportunity for Building- Construction and allied Industries. According to The World Bank report economic activity in South-East Asia will be driven by infrastructure development which includes, public infrastructure, housing, sanitation, commercial complexes etc. India being a major economy in the region can play an important role in the SriLankan Market. Indian manufacturers and suppliers are already conducting business in the country, but there is still huge void left as demand for building material and related products is rising every year and the trend is here to stay for next decade or two. Moreover, there are programs like ‘The Indo-Sri Lanka Free Trade Agreement (ISFTA)’ which are playing major role in strengthening the bilateral trade between the countries, manufacturers who are planning to export to Srilanka can utilize the duty benefits available under this free trade agreement.

The Most Comprehensive Platform for the Building – Construction Industry

Futurex has successfully created a significant B2B Platform known as Buildcon International Exhibition in Srilanka, where Manufacturers and suppliers along with their global counterparts can showcase their products and interact with the local investors, dealers, distributors, contractors, architects and other relevant Industry Professionals. Buildcon series of exhibitions have played pivotal role in launching Indian and other global brands across the SAARC region. Since its inception over 1000 satisfied brands have used Srilanka Buildcon as their preferred platform to showcase their latest products, technologies and machinery. 8th Srilanka Buildcon International Expo is the Most sought-after industry forum in the region. The event has created a niche for itself not only in Srilanka market, but it witnesses trade visitors from Maldives, UAE and southern states of India as well. Riding on the success of previous editions, the 8th edition promises to be more productive for exhibitors and visitors alike. The event will be held from 6th-8th September 2019 at B.M.I.C.H Colombo, Srilanka.

Although the event includes exhibitors from every possible segment for the building and construction industry but specially focuses on Building Material, Home Automation, bathroom accessories, Tiles & Sanitaryware, Architectural lighting, Pipes & fittings, Roofing & Facade, Pre-engineered buildings and many more. Construction machinery and heavy equipment is another major segment that has seen substantial participation. It can be concluded that this segment attracts a good number of trade visitors, which suggest that there is good demand for construction machinery and heavy equipment. Machines and plants like Concrete batching plants, stone crushers, Concrete mixers, block machines, asphalt plants have been in great demand, owing to rising commercial construction in Srilanka. Manufacturers and traders of Commercial and special purpose vehicles such as earthmovers, cranes, backhoe loaders, dumpers, rollers etc. are also in demand as they play an important role in timely completion of any construction project.

Futurex would like to call upon the manufacturers and suppliers who wish to explore this untapped growing market to participate in 8th Srilanka Buildcon International Expo 2019. We are constantly evolving according to the needs and requirements of the Industry and always strive to expose our clients to the markets which have sustainable potential in order to realize their future business goals, aim and vision.

 

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