UAE building materials industry valued at $10.9 bln

The value of the building materials industry in the UAE is projected to reach AED 40 bln (USD 10.9 bln) by the end of 2007 according to latest research findings, which assessed and projected the expenditure in construction materials by property developers within the country.

In a bid to leverage the booming market, Danube Building Materials FZCO, a leader in construction, building materials, and shop fitting industry, sponsored the recently concluded Building Materials Trading Group (BMTG) Networking Dinner. The event, which was organised by BMTG, an organisation formed under the patronage of the Dubai Chamber of Commerce and Industry (DCCI), seeks to facilitate the growth of local and regional building materials companies.

The first edition of the high-impact networking affair, which was held at the India Club, Dubai on November 28, witnessed the participation of 150 representatives from various sectors related to the building materials trade in the region. The event also provided relevant information on the emergence of new products, market challenges and cost issues, which will help both new and established players improve current industry standards in terms of effectiveness in business practices.

Recognising the need to provide further competitive advantage to Dubai-based building materials suppliers, the DCCI formed the BMTG with an aim to provide more business opportunities by facilitating networking among companies and potential customers. Since its establishment in 2002, the Group has grown to comprise 11 board members and more than 3,000 members, who are committed towards further expanding the construction materials trading industry in the region, which is currently the second largest industry in the Middle East after the oil industry.