Home improvement market entices international entries
Dubai-based Palmon Group and German luxury kitchen maker, Seimatic are planning to open a new 1,850sqm showroom in Dubai's Jebel Ali Free Zone in March.
Seimatic is eager to capitalize on the current GCC building boom where analysts predict that some $200 billion will be spent on construction over the next five years.
A further outlet is scheduled for Dubai sometime next year with an opening in Abu Dhabi planned for 2008.
"The building boom has dramatically increased the number of specifiers such as interior design consultants, architects and building project managers seeking kitchen products in this region," said MM Lahori, Palmon chairman. "And with continually increasing demand for high quality, contemporary kitchen cabinetry from consumers, not to mention the popularity of Seimatic, we felt the time was right for to enter the UAE market."
Lahori also confirmed to GMR that it is currently planning a local advertising campaign featuring press, TV and outdoor.
Palmon Group is a business conglomerate established in 1974 with interests in garments, logistics, construction, interior design, FMCG distribution, retail and specialized storage solutions.
Siematic is distributed in more than 55 countries worldwide with a reported annual turnover of around $184 million.
The new showroom will specialize in precision-engineered kitchen furnishings, like cabinetry, fixtures and accessories. It will offer a design and planning service for commercial and private sector.
© Gulf Marketing Review 2006
