News Column

Dubai Investments boosts construction material portfolio

August 25, 2014



This comes in the wake of winning significant orders and project for 18 of its subsidiaries involved in the manufacturing of building materials and construction products.



Dubai Investments, a leading investment company in the UAE, has reinforced the production capabilities of its subsidiaries dealing in building materials amidst accelerating trends in the real estate and construction sector across the UAE and the region.







This comes in the wake of winning significant orders and project for 18 of its subsidiaries involved in the manufacturing of building materials and construction products.







Dubai Investments subsidiaries such as Glass LLC, Emirates Building Systems and Dubai Cranes have reported a number of new projects across Dubai, Abu Dhabi, Qatar and Saudi Arabia, among others.







Notable projects won by Dubai Investments subsidiaries include glass orders for Dubai Design, Habtoor Hotel, Masdar office building in Dubai; Credit Lebanese HQ in Beirut; steel structures for Riyadh Public Transport; three petrochemical projects for Saudi Aramco; end-to-end steel building solutions for 2022 Fifa World Cup stadiums in Qatar; and petrochemical projects in Oman; as well as residential and airport developments in the UAE and standard, overhead crane kits for ongoing projects with Emirates Aluminium, Dubai Aluminium and the Dubai Electricity and Water Authority.







Construction activity across the UAE has witnessed a major upswing this year, with projects worth $46 billion awarded in 2014 alone, a significant rise from $38 billion last year. A vast majority of these contracts are in the residential sector, and the uptrend in the construction sector is set to boost the country's gross domestic product for 2014 by four per cent to approximately $404 billion, up from $390 billion in 2013.







Abdulaziz bin Yagub Al Serkal, general manager of Dubai Investments, said: "2014 has been a momentous year for Dubai Investments' business growth in the real estate and construction sector. The construction industry has always been a key source in driving growth for the UAE's economy and the current upswing, especially in residential projects, has led to unprecedented demand for quality building materials and innovations which offers us a huge growth opportunity."







He added: "High demand as a result of the construction boom in Saudi Arabia, Qatar, Oman, Kuwait and across the Middle East is also placing added demand on the capacities of our companies dealing in building materials."







In line with this, some of the Dubai Investments subsidiaries have bolstered their production capacities. Emirates Building Systems has announced major expansion plans in the UAE and Saudi Arabia, Emirates Extruded Polystyrene has also announced plans to double its production capacity in the coming two years to approximately 2.4 million sqm per year, and Dubai Cranes and Technical Services recently announced opened the first-of-its-kind crane storage and assembly facility in the region to cater to the heightened demand for cranes across the GCC and Mena region.








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Source: Khaleej Times (United Arab Emirates)


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