Gulf News reported that Dubai Danube Buildmart, the retail arm of the building materials supplier Danube Building Materials recorded 46% growth in 2010.

A company statement said that the continuing YoY growth has prompted the chain of stores to expect 30% to 40% increase before the end of 2011. Danube which started as a building materials supplier 17 years ago found success with its introduction of a one stop shop concept for home interiors.

Called Buildmart, the outlets target a diverse retail segment ranging from developers to architects interior designers to home owners. Following the announcement of its recent 2010 growth report, the company revealed that it has added 10,000 new products in its current Buildmart portfolio thus bringing the total to more than 25,000 products.

To date, there are 24 retail facilities 17 in the UAE; two each in Bahrain, Oman and India and one in Saudi Arabia. The company also maintains procurement offices in Canada and China. Danube has announced that it is also considering an initial public offering in Saudi Arabia or the UAE over the next 5 years.

Mr Rizwan Sajan chairman of Danube Buildmart said that “Our recent performance reports show that Danube Buildmart has posted 46% growth in 2010 a testament to the growing confidence and trust that consumers have placed in us.”

(Sourced from Gulf News)