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Danube Inaugurates Buildmart in Bahrain
DUBAI - Danube, the UAE-based leader in building materials, continues to expand in the Gulf region and has opened a retail complex in Bahrain on Thursday. A Dh50 million retail complex Buildmart was inaugurated by Majeed bin Mohsen Al Alawi, Minister of Labour of Bahrain, which will meet the building material needs of homeowners, designers and developers.
“Despite the slowdown we are bullish and will open our next Buildmart in Jeddah, Saudi Arabia, worth Dh50 million in the second quarter of 2009 and two more retail outlets in Abu Dhabi and Dubai in the first half of this year,” Danube Chairman Rizwan Sajan told Khaleej Times over phone from Bahrain. “There is a 20 per cent decline in sales in the first two months of 2009 compared to 2008, but I am bullish as it is better than 2006,” informed Sajan.
The company has already allocated Dh150 million for the expansion in 2009, he added.
Located in Salmabad, Bahrain, the Buildmart spans over a total of 300,00 sq.ft and has in store over 15,000 different products from Danube.
All the products in the retail complex are installed in an actual home set-up, thereby allowing customers a more convenient way to shop for building materials, fixtures and other household items. Speaking at the inauguration, Sajan said, “I believe that the continued success of Danube stems from our capacity to identify markets with the biggest potential, which makes us strategically positioned to take pioneering initiatives that in turn drive our continued success.” “We have high hopes that we will be able to reach the ambitious targets we have set for Buildmart in Bahrain.” Danube had previously announced that it was expecting a turnover of Dh50 million in the first year of operations of Buildmart and subsequently a growth of 50 per cent in the second year and another 50 per cent rise in the third year.
“Amidst the excellent prospects within the Bahrain economy that result in the influx of more foreign nationals settling into the country, our goal is to support the rising demand for high quality built building materials to address the needs of customers,” concluded Sajan. Prior to the inauguration of Buildmart, Bahrain, Danube, has opened its first ever Buildmart in Ras Al Khaimah, as well as two new state-of-the-art facilities in Ajman and Al Quoz where the company invested a total of Dh55 million.
· abdulbasit@khaleejtimes.com
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