UAE building construction market poised to hit USD 64 billion in 2010
The UAE building construction market is projected to reach USD 64 billion in 2010 - a considerable rise from the market’s value at USD 46 billion in 2008, according to a recent industry study, thereby bringing some relief to suppliers as the market is expected to maintain present activity levels over the next three to four years. With aims to leverage the growth prospects within the UAE, Rubber World Industries (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-Flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, has reiterated its commitment to delivering high quality eco-friendly rubber insulation products to projects that are currently under construction in the UAE.
Following a successful year in 2008 when it declared a record AED 32.4 million in sales revenues, the company is now acting upon its strategy to boost production capacity by as much as 50 per cent, in line with its aims to secure AED 60 million in revenues for 2009. Amidst the continuous demand for more eco-friendly projects to be completed in the UAE, RWI is catering to a continuously growing market for its eco-friendly products. In addition to the excellent heat retardant properties, its products also efficiently control condensation drip and reduce heat flow on hot systems, and are manufactured without the use of harmful chlorofluorocarbons (CFCs) or hydro fluorocarbons (HFCs).
“Our stance on eco-friendly processes is reflected in the quality and overall properties of our products, which has made them the preferred brand for most builders in the UAE,” said Abu Baker Shaikhani, Managing Director, Rubber World Industries, and Chairman of the Memon Group. “As indicated by industry reports, the UAE will witness a steady growth in the building construction market, and this presents us with an outstanding opportunity to further entrench our position as the leading supplier of rubber insulation products in the country.”
RWI products have long since served as vital components of major property developments by leading developers in the UAE. Among the company’s most recently won projects in Dubai include an AED 1.2 million contract for ‘Motor City’ project, an AED 418,000 contract for ‘Traders Hotel’ project, a contract valued at over AED 280,000 for ‘The Villa’ project and a half a million dirham deal for ‘Horizon Tower’ project in Ajman. In addition, RWI also caters to the rubber insulation needs of companies from more than 90 countries, including the US, Germany, Russia, Canada and Singapore.
”We are committed to delivering top quality rubber insulation products by using the best materials available in the market. Our strategy is largely focused on ensuring that our products are of the highest quality and incorporate eco-friendly qualities such as low levels of volatile organic compounds (VOCs) and non-existent formaldehyde content. Our continued investments into research and development are driving the strong grip we have of the rubber insulation market in the UAE, and we are presently exploring more technologies to further enhance the quality of our products,” concluded Shaikhani.
- UAE demand for fabricated aluminium to grow 9 per cent annually to USD 838 million in 2015
- UAE mortgage market to reach AED 64 billion over the next three years
- Better market prospects to emerge as UAE construction market poises for rebound, says Danube
- KSA IT market to hit USD 4 billion in 2010, to remain largest in Gulf
- UAE leads Gulf construction market