Shanghai UBM Sinoexpo International Exhibition Co (UBM Sinoexpo) has signed a 10-year (2014-2023) strategic co-operation agreement with the Shanghai New International Expo Centre (SNIEC) in Pudong.
This is yet another important development following UBM Sinoexpo's staging of the 20th China International Furniture Expo (Furniture China) at SNIEC in September. Since Furniture China moved to SNIEC in 2002, the size of UBM Sinoexpo's three major shows – Furniture China, Hotelex Shanghai, and CPhI China/FIA-China - have reached or exceeded 200,000 sqm each, with Furniture China covering a total floor space of more than 300,000 sqm and a net space of 170,000 sqm (including Furniture Manufacturing & Supply China held at another venue, SWEECC).
The growth of Shanghai's exhibition industry in the last 30 years has been one of the fastest in the world. In the last 10 years, exhibitions organised by UBM Sinoexpo have grown in scale by an average of 10% annually, with high growth rates of 23% and 38% in 2007 and 2011 respectively.
In 2014, UBM Sinoexpo leased a total of 880,000 sqm of exhibition space – up 20.3% compared with 2013 – with an average venue utilisation rate of 49.3%. Utilisation rate is one of the most important considerations for show organisers when selecting a venue, and this is where SNIEC is strong – UBM Sinoexpo has been able to achieve 55% or more in utilisation there, a key reason for it striking a long-term strategic co-operation agreement with the venue.
Over the next 10 years, UBM Sinoexpo will continue to focus on four main sectors – furniture, hotel, ingredients (pharmaceutical/food), as well as boating and lifestyle. After 2016, SNIEC will be able to provide UBM Sinoexpo an additional 200,000 sqm, making it possible for UBM Sinoexpo to lease as much as 900,000 sqm for its existing projects, plus acquisitions and new launches.
Read a report of this year's Furniture China in the October issue of Furniture News magazine.