Danube posts 31 per cent revenue growth in Bahrain for first half of 2011 as compared to 2010

Danube Building Materials, the leader in construction, building materials and shop fitting industries, has revealed that the company posted a 31 per cent growth in revenue for the first two quarters of 2011 in the Kingdom of Bahrain, amidst the unrest that happened in early February. The figure reveals an increase in revenue for first half of 2011 as compared to same period in 2010.  The company has reported that the country’s move towards recovery is being bolstered by the entry of over BHD 614 million worth of new construction projects. Danube is aiming to take advantage of these new projects by leveraging its strong reputation as a premier provider of world class building materials across its rapidly growing customer base in the Kingdom. 

According to recent performance reports, Danube suffered a key drop in business by 50 per cent during the unrest in February and March. However, strong government support and the move towards economic recovery helped the company bounce back in April to June, ultimately driving in the 31 per cent increase against the first half of 2010. The increase also complements a report from Research and Markets, a leading business research firm, showing that Bahrain’s construction segment is likely to rebound soon with the emergence and influx of new projects across the country, The new projects are expected to help Bahrain regain its reputation as a key commercial and financial hub for the Middle East. The report further shows that Bahrain is one of the very few countries that have managed to key in positive economic growth despite the impact of the recent economic downturn. 

“These are vibrant times for Bahrain, which is currently witnessing a key influx of construction projects that can ultimately give the country a needed push towards economic recovery, “ said Rizwan Sajan, Founder & Chairman, Danube Building Materials. “We are looking to play a major role in this development by living up to our reputation as a premier provider of world class high quality building materials across these major projects.” 

Reports have also shown an upsurge in opportunities in the country’s real estate segment. In fact, Bahrain’s commercial rental rates have stabilized and are expected to track sideways for the duration of the current year. 2012 has been forecasted to drive in a five per cent increase in most of the sub-sectors in the Kingdom’s three cities, except for retail space in Manama and Muharraq, which has been having a more delayed response to the downturn. Analysts have shared that the Bahraini government’s move to introduce general reforms after the unrest has resulted in bringing back confidence to various institutions. To date, the introduced reforms are helping create a more competitive market atmosphere for Bahrain.  

“Bahrain continues to be an important market for us and we are confident to key in more sustainable growth for the next half of 2011. Rest assured, we will remain true to our commitment of providing world class building materials and home interior products through our 2 branches in the country,” concluded Rizwan Sajan.   

Danube currently operates two BUILDMART retail showrooms in Bahrain, strategically located in Bahrain Mall and ٍSalmabad. The company will soon be opening a new Danube Building Materials Showroom in Bahrain which is set to open during the first week of October this year.