Khaleej Times reported that Danube Building Materials a leader in construction, building materials and shop fitting industries has inaugurated AED 50 million showrooms in Saudi Arabia. It also plans eight more outlets by the end of 2012 worth over AED 200 million.
Mr Rizwan Sajan chairman of Danube Group said that "We see strong demand for building materials in Saudi Arabia so Danube will continue its investment and our target is total 10 showrooms in Saudi Arabia by the end of next year. Total investment in the Kingdom is expected to cross AED 300 million."
The company now has a total of over 26 global retail facilities 17 in the UAE, three in India, two in Oman, Bahrain and Saudi Arabia. The company has also invested AED 50 million in a new manufacturing plant in Dubai. The new facility which is spread over 1.3 million square feet in Dubai TechnoPark will open in mid 2011.
Mr Ahmad Hamza Awadh director of Jeddah Municipality led the opening of the new integrated showroom and warehouse facility. Located in the heart of the Jeddah Industrial Area, the new showroom is part of Danube's strategic move towards creating a strong market presence in the Middle East construction industry and meeting its goal of achieving USD 1 billion in revenue by the year 2015.
Mr Sajan said that "Opening our new KSA showroom proves to be strategic and reflects perfect timing as recent reports have shown that Saudi Arabia currently has 38% share of the total construction projects in the region and has over USD 624 billion in current and planned projects. The strategic location of the new facility combined with our comprehensive product portfolio of essential building materials gives us the opportunity to reach out to new target customers. The move is also part of our continuing efforts to consolidate our presence in the Middle East region's thriving construction industry.”
He said that Danube remains steadfast in its key efforts to become a major part of the development and progress that the region is currently experiencing. The opening of new showrooms across the region is not only part of our move to reach target revenue of about USD 1 billion by the year 2015 but also reflects our long term commitment to leverage our world class high quality building materials across the various construction and development projects in the region.
(Sourced from Khaleej Times)
