Major Chinese firm reveals plans to break into Dubai real estate market
Plans by Chinese construction firm, China National Building Material (CNBM), to break into Dubai's property sector in the near future were recently revealed by company representatives.
The chairman of CNBM, Dr Song Zhiping, stated that he was highly impressed by Dubai’s flourishing real estate industry, which was reminiscent of the boom years for construction in the major Chinese city of Shanghai, according to Gulf News.
Officials from the Chinese company and Construction, and Building Materials Trading Business Groups operating under the Dubai Chamber of Commerce and Industry (DCCI) umbrella held talks in Dubai earlier in the week to discuss the new developments.
The representatives discussed trade and economic relations between Dubai and China and the possibilities of expanding them, especially since Dubai’s construction sector that is witnessing an enormous leap in the UAE in general and Dubai in particular.
"Dubai is undoubtedly considered an example of the construction and tourism development, and we will be very happy to break into its construction market," boasted Zhiping.
"When I had first landed in Dubai and saw the construction and building works in full swing besides the huge number of building and construction equipment spreading throughout the city," he added.
"I immediately recalled the Chinese city of Shanghai and the construction rise it witnessed several decades ago," said Zhiping.