Building materials market in UAE to exceed Dh40 billion

Building materials in the UAE would be worth Dh40 billion by the end of this year, according to findings that assessed and projected the expenditure in construction materials by property developers in the country.

Industry players wanting to leverage the market conducted a networking dinner recently under the auspices of Danube Building Materials, a provider of construction and building materials and a leader in shop fitting industry.

Organised by the Building Materials Trading Group, an organisation under the Dubai Chamber of Commerce and Industry, "seeks to facilitate the growth of local and regional building materials companies," said a Press statement released yesterday.
"Our participation as the main sponsor at the BMTG networking dinner stands as a testament to our commitment towards the total development of the industry, which we hope will inspire more companies to become part of this very important movement," said Rizwan Sajan, chairman of Danube.

The construction materials trading industry is the second-largest industry in the Middle East after the oil and gas sector.

The networking affair attracted 150 representatives from various sectors related to the building materials trade in the Gulf region. The participants provided each other information on new industry products, market challenges and costs issues needed by new and established players.
Mahendra Patel, chairman of BMTG, said the group has created a "positive collaboration" among member companies in addressing the increasing demand of the property development market.

"Apart from the direct advantages of creating expansive business opportunities, the Dubai Chamber will provide numerous benefits to these enterprises as a reward for their significant contributions to the advancement of the industry," Patel said.
Dubai Chamber created BMTG to provide more business opportunities through networking between manufacturers and buyers. It now has 11 board members and over 3,000 members since its establishment in 2002.