Dubai: Construction activity is gradually picking up in the UAE as a leading building material importer and distributor group has witnessed 20 per cent growth this year.
"Despite the global economic crisis, our group has recorded 20 per cent growth in terms of sales and demand for building material supplies," said Mian Mohammad Muneer, CEO of the Mohammad Ibrahim Haji (MIH) Group.
Speaking at the annual award dinner of the MIH Group held at the Atlantis Hotel on Palm Jumeirah, Muneer said that building material prices, which crashed almost 50 per cent in the last quarter of last year, have regained up to five per cent.
"It is a very healthy sign as we can see an increase in demand for building material supplies due to the revival of construction activities," he added.
MIH Group is one of the leading importers, distributors and retailers of building materials in the UAE, with a vast variety of around 13,000 building materials. It has 35 branches, including 22 in the UAE and 13 in Oman.
"We are planning... to expand to other GCC countries with the opening of at least 10 branches of the MIH group across Saudi Arabia by 2010," Muneer said.
He added that the company would also enter markets in Bahrain, Kuwait and Qatar in addition to launching its global operations by 2012.
The group, which has its headquarters in Al Ain, is now planning to have a greater presence in Dubai as well, with aggressive marketing.
"While the construction activity was going well in Abu Dhabi and Al Ain, we have also seen a surge in building material supplies in Dubai in recent months," he noted.
Mohammad Ibrahim Haji, who established the MIH Group with the launching of a steel fabrication factory in Al Ain in 1975, also gave awards at the iftar reception to diplomats from various countries for their cooperation in business activity.
By Ashfaq Ahmed
© Gulf News 2009
