The company saw an impressive 25 per cent rise in revenues in 2010 in spite of the global economic crisis and projects a similar growth in 2011, that will take its revenues to AED 1.6 billion. Danube has also invested BD 5 million in a new manufacturing facility; spread over 1.3 million square feet, in Dubai TechnoPark, which would be functional this year.
In addition to securing significant growth, the company has also undertaken major expansion initiatives, which have expanded its market, reach further across the region, as well as to India, one of the world’s fastest-growing economies. Danube expanded its retail footprint in 2010 and opened Danube Buildmart showrooms in Dubai, Abu Dhabi, Al Ain, Bahrain and Mumbai. Each of these showrooms entailed an investment between BD 1 million to BD5 million. The company plans to continue with its expansion through 2012, during which it targets to open 15 branches.
“The year 2010 was a very positive year for us and we are proud to say that we managed impressive growth and expanded at the same time. We added 10,000 new products to our portfolio for Buildmart to meet housing needs, and now our total product portfolio is 25,000. Further, there were fresh initiatives and major investments, well thought over strategies and effective implementation, along with our foremost target to deliver the best to our customers, which together helped us stay strong even in tough market conditions. We are expecting positive growth results to continue in 2011 as well,” said Rizwan Sajan, Chairman, Danube Building Materials.
Danube cited a recent ‘UAE Construction Industry Outlook to 2012’ report by industry intelligence provider RNCOS, which says that the UAE construction industry is expected to witness a compound annual growth rate (CAGR) of around 20 per cent from 2010 to 2013.
“The bullish projections directed towards the UAE construction sector has drawn our focus further into broadening our presence in the domestic market, as we believe that excellent opportunities for growth are in sight for investors, developers and other players in the construction arena,” Sajan added.
“Our achievements are the result of combined efforts of all our partners, employees and associates and we are grateful to them for their contribution. We are committed to not only our own growth but also to continue to make a positive contribution to the construction industry as a whole,” said Sajan.