Danube Building Materials records 30 per cent overall growth in FY’09-‘10
Danube Building Materials, the leader in construction, building materials and shop fitting industries, announced that it has achieved 30 per cent overall growth in FY’09-‘10. The excellent results the leading manufacturer has recorded underlines its strength despite the challenges posed by the dwindling market as a result of the recent global financial crisis. In addition to securing significant growth, the company has also undertaken major expansion initiatives, which has expanded its market reach further across the region, as well as to India, one of the world’s fastest-growing economies.
The most recent milestones achieved by Danube in the past fiscal year include the subsequent inauguration of two 'Danube BUILDMART' branches worth AED 15 million each – in Ibn Battuta Mall, Dubai and in Bawadi Mall, Al Ain. Further, the company also unveiled its ‘Danube BUILDMART’ branch in Mumbai, India, located within the city’s well-known Oberoi Mall on June 25, 2010, marking its first international branch outside of the GCC.
“The growth we have seen for FY’09-’10 is a true testament to our strength and resilience, as well as our capacity to meet customer demands, which has evolved significantly due to the unique situation created by the global financial meltdown,” said Rizwan Sajan, Chairman, Danube Building Materials. “This success has been the result of our foresight, strong strategies, and ultimately, the value for money we offer to our customers. In addition to launching new stores, we have also invested in expanding our production capacity, while maintaining unwavering focus on ensuring the quality of all our products.”
Being built as part of its expansion plan in the coming years, the company has invested AED 50 million in a manufacturing facility located in TechnoPark, Dubai, to boost its production volumes and meet the demand as the market approaches full recovery. Spanning 1.3 million square feet, the new facility will be completed in phases and is expected to commence operations by early 2011. As a testament to the overall success of Danube, a certificate for the ‘Dubai Quality Appreciation Programme’ (DQAP) has been awarded to the company in April this year, in recognition of its noteworthy activities and achievements.
- How to avoid turning your dream home into a nightmare
- The Kingdom will sure 'look different' by 2030: Saudi Arabia has 80 mega-projects up its sleeve
- Too pricey? MENA property hikes are off-putting for new buyers
- Fleeing war? UAE is the safe haven: Dubai property market is safe and secure according to a top banker
- CEO of the UAE's top developer, MAF Properties talks money and retail
- Wood prices in the Middle East remain stable from July to August
- Danube inaugurates new facilities in Ajman and Al Quoz valued at AED 55 million
- Danube generates AED 1.1 billion in sales revenues in 2008
- Danube invests AED 30 million in Bahrain as part of regional expansion
- Building materials prices in Middle East witness 15 per cent rise in April 2009