Leading Exhibition Center in Saudi Arabia: Riyadh International Convention and Exhibition Centre (RICEC)
In 2013, RICEC was able to attract more than 1 million visitors, 3,200 exhibitors – 60% of whom were international exhibitors. As for the outlook, Alomran optimistically states: “We expect from now until 2017 to have growth of around 10 to 17%, mainly in Riyadh. There will be more projects happening and venues opening around the Kingdom. Overall, there will definitely be growth of over 10% here.”
Abdullah Alomran, CEO of RICEC, in an interview for Marcopolis.net said: “Saudi Arabia is an oil-based economy. The MICE segment was considered a side income until 2011, when the Bureau was formed, and they started to look at statistics to do with the direct and indirect impact of this industry. In 2010, the International Bank carried out a study in Riyadh, which declared that the indirect income resulting from the construction of the RICEC was 370 million Riyals. That was in 2010, when we had a very limited number of events. We used the same methodology in 2012 and found that the figure had risen to 500 million Riyals. This figure represents the indirect income from the industries related to this sector such as hospitality, transport and logistics.”
In 2013, RICEC was able to attract more than 1 million visitors, 3,200 exhibitors – 60% of whom were international exhibitors. As for the outlook, Alomran optimistically states: “We expect from now until 2017 to have growth of around 10 to 17%, mainly in Riyadh. There will be more projects happening and venues opening around the Kingdom. Overall, there will definitely be growth of over 10% here.”
RICEC was built by the Riyadh Chamber of Commerce and Industry. With total exhibition space covering 14,644 column-free square metres inside, and an additional 4,626 square metres outside, a 1,100-seat auditorium and a VIP lounge, RICEC is now the preeminent exhibition space in the kingdom.
The total land area of RICEC is about 190,000m2, making space for massive expansion. “We have many plans to expand in the future. In the first phase, we plan to expand the hall space by 5,000m2. We have plans for a four star hotel within our perimeter, with 200 keys. The construction of this hotel will start in early 2015. We have plans to expand more and more in the second phase of the hall expansion. Over the next three years, I think that we are going to invest around 170 million Riyals,” Alomran concludes.