dubai investments - net - profit - rawanddigital.com

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• Net operating profit rises to AED 1.19 billion; up by 39% Total assets during the year amount to AED 12.67 billion • Return on equity increases to 10% for 2013 • Robust growth momentum to continue in 2014: Khalid Bin Kalban Dubai Investments PJSC [DI] announced preliminary, un-audited net profit of AED 822.02 million in 2013, a 156% increase compared to the AED 321.37 million profit achieved in 2012. The Net Operating Profit for 2013 was AED 1.19 billion, an increase of 39% compared to AED 861 million achieved in the previous year. Total assets as on December 31, 2013 amounted to AED 12.67 billion as against AED 12.36 billion in 2012. The Shareholders’ equity in 2013 rose to AED 9.04 156% to AED 822.02 million in 2013 Dubai Investments NET PROFIT SURGES To be continued on page 2... Dubai Investments spreads footprint in real estate 3 Dubai Investments exports surge 129% in the last five years 4 45 FIRST- QUARTER 2014 DIP celebrates Sukuk listing 9

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• Net operating profit rises to AED 1.19 billion; up by 39%

• Total assets during the year amount to AED 12.67 billion

• Return on equity increases to 10% for 2013

• Robust growth momentum to continue in 2014: Khalid Bin Kalban

Dubai Investments PJSC [DI] announced preliminary, un-audited net profit of AED 822.02 million in 2013, a 156% increase compared to the AED 321.37 million profit achieved in 2012.

The Net Operating Profit for 2013 was AED 1.19 billion, an increase of 39% compared to AED 861 million achieved in the previous year. Total assets as on December 31, 2013 amounted to AED 12.67 billion as against AED 12.36 billion in 2012. The Shareholders’ equity in 2013 rose to AED 9.04

156% to AED 822.02 million in 2013

Dubai Investments

NETPROFIT

SURGES

To be continued on page 2...

Dubai Investments spreads footprint in real estate

3

Dubai Investments exports surge 129% in the last five years

4

45

FIRST- QUARTER 2014

DIP celebrates Sukuk listing

9

2

billion, compared to AED 8.48 billion a year before.

Total revenue as on December 31, 2013 was AED 2.78 billion, as against AED 2.33 billion in 2012. The annualised return on equity achieved for the year was 10%, as against 3.9% in the last year. The Earning Per Share [EPS] also surged to AED 0.23, compared to AED 0.09 in 2012.

The assets and liabilities have been restated following deconsolidation of the joint ventures pursuant to application of change in accounting standards but there is no impact on either the profitability or net worth of the Group.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “2013 has been a year of solid growth at Dubai

Investments. Our profit was a result of the higher gain on the fair valuation of our investment properties, gain from the valuation and sale of investments and reduction in finance expenses. With the upswing in the economic and investment climate in the UAE and the region, we expect this growth momentum to continue in 2014.”

He added: “As a group, we have a strong focus on the real estate sector, and further building our capacities in the process manufacturing and related industries. We are exploring opportunities in strategically promising businesses across sectors in the existing and new geographical locations across the region to consolidate our position as an important regional player while providing significant returns to our shareholders.”

crest of the wave of the current upswing in the sector. Being one of the leading real estate players, we feel that the time is opportune to develop our land banks across the UAE and spread our footprint in the sector which will fuel our future growth. As a group, we are well positioned to capitalise on the emerging opportunities in the construction and real estate sector, with over 18 manufacturing units of Dubai Investments engaged in the building materials and related fields.

As a step in this direction, we successfully closed the $300 million Sukuk for Dubai Investments Park, which received a very encouraging response from investors. The oversubscription of our Sukuk reflects the confidence in the market on our ambitious plans for the future. With our clearly-defined strategic roadmap for 2014 and beyond, we are confident of maintaining a consistent growth trajectory in the months and years to come.

Khalid Bin KalbanManaging Director & CEO

The first quarter of any year is crucial as it sets the pace for the ensuing period. At Dubai Investments, we welcomed 2014 with positive indicators pointing towards consolidation of the success we achieved in 2013. To register a 156% spurt in net profit for 2013 is no ordinary achievement, and we are very proud of our robust performance in the last year. We are not going to rest on our laurels, and will continue this forward march by developing our existing operations and seeking new growth opportunities in 2014.

Significantly, we have a strong thrust in developing our real estate portfolio over the next two to three years, riding on the

Message from

the CEO

... continued from pg 1

3

Over the past 10 years, Dubai Investments PJSC [DI] has

reinforced its position as a frontline player in the regional real estate industry with its prudent investments targeting strategic property assets across the UAE, driven by its farsighted vision on the growth potential on offer.

Thanks to this, DI today boasts of one of the largest land banks across the UAE, totaling approximately 30 million square feet Gross Floor Area [GFA] and owned by its different subsidiaries – Dubai Investments Park [DIP], Dubai Investments Real Estate Company [DIRC], Al Taif Investment and its joint venture Properties Investments [PI].

As part of its strategy to further spread its footprint in the industry, DI plans to unveil iconic projects across the UAE in the coming months on its land banks with projects in Meydan, Mirdif and Jumeirah Village Circle in Dubai, as also other developments in Fujairah and Abu Dhabi. Over 67% of DI’s asset base is in real estate and is currently worth over AED 8.38 billion – making DI one of the biggest real estate players in the UAE.

Khalid Bin Kalban, Managing Director and CEO of DI, said: “The UAE real estate industry is in the midst of a robust growth – which is a reflection on its sound fundamentals and overall business and investor confidence across sectors, be it retail, tourism, aviation, hospitality or trade. As one of the leading companies, we feel the time is right to move forward with developing our land banks. Average property prices in Dubai have risen by more than 20 per cent in the last 12 months and we are

confident that 2014 will mark a major step-change in the growth of the UAE real estate sector.”

He added: “We aim to set new benchmarks through our projects and there is still an untapped market which we are eyeing. The overall optimism, accentuated with Dubai winning the Expo 2020 bid, is translating into investors eyeing long-term investments and growth in the UAE real estate industry. Overall, we expect acceleration across the entire spectrum of the industry.”

By leading the way with innovative developments accommodating every lifestyle, DI has again reinforced its commitment to ensure the long-term sustainability of the UAE’s real estate market.

DI has further built on its real estate portfolio by creating pioneering concepts such as the DIP, which is today a city-within-a-city and one-of-its-kind residential and business destination. Similarly, DI has leveraged the other land banks by investing not only in residential developments but also in commercial facilities, such as industrial warehouses, offices, labour accommodation, to cater to the country’s development needs.

“Established communities with a wide range of lifestyle amenities will continue to take a lead position in the current real estate environment. Moreover, with Dubai’s status as a safe haven, it is the ideal destination for investing in property – both residential and commercial,” summed up Mr. Kalban.

Dubai Investments

spreads footprint in

real estate

4

Dubai Investments PJSC [DI] announced that the volume of

exports from its various subsidiaries has grown substantially over the last five years, reflecting the potential of manufacturing exports from its companies across multiple sectors.

An analysis of the export performance of DI subsidiaries between 2008 and 2012 revealed that glass export achieved the highest growth, followed by other products such as aluminium, pharmaceuticals, steel and rubber, among others. The company’s glass exports, which was worth AED 88.34 million in 2008, jumped to over AED 200 million in 2012, an increase of more than 129%.

The key export markets for DI were the GCC countries, Yemen, Jordan, Lebanon, Turkey, South Asia, Africa, UK, Europe, Australia, Singapore, Malaysia, Brazil, other parts of South America, CIS countries and across the globe.

Export of extruded aluminium grew from AED 58.92 million in 2010 to nearly AED 100 million in 2012, an increase of over 64% while switchgear exports also surged from AED 116,424 in 2010 to AED 235,068 in 2011, a growth of 203%, which further increased to AED 330,488 in 2012 [+40%]. Similarly, rubber exports grew from AED 18.59 million in 2010 to over AED 21 million in 2012, with focus

markets being the Gulf countries, Europe as well as Africa.

Exports of steel enclosures for electrical products grew from AED 1.12 million in 2010 to AED 2.17 million in 2011 [+94%], which further increased to AED 3.61 million in 2012, a growth of 66%. DI’s subsidiaries also achieved substantial growth with the export of fabricated steel structures touching more than AED 93 million in 2012, an increase of over 81% over exports of nearly AED 51 million achieved in 2010. The major export markets are Qatar, followed by Oman.

Similarly, pharmaceutical exports were worth in excess of AED 100 million in 2012, an increase of over 27% compared to AED 79.66 million exports achieved in 2010. The company’s export in the sector has been on a northwards trajectory over the last five years, having achieved a phenomenal 80% growth compared to exports in 2008.

As part of its strategy, DI is also working closely with Dubai Exports, the export promotion agency of the Department of Economic Development [DED], Government of Dubai, to reinforce its growth strategy in export markets. DI is also participating in a number of trade shows and exhibitions globally to realise market opportunities and export capabilities.

DI exports surge 129%

in the last five years

5

Dubai Investments PJSC hosted over 250 students from various schools in Dubai at the production facilities of its various subsidiaries as part of its school outreach programme. The students, representing Dubai National School, Al Rashed Al Saleh Private School and Dubai High School visited various DI subsidiaries, including Globalpharma, Emirates Building Systems [EBS], Emirates Glass and Emirates Float Glass [EFG] factories in Dubai and Abu Dhabi as part of the programme.

The initiative, focused on educating students about DI’s contribution in the UAE manufacturing sector, is also part of the company’s CSR strategy to enhance the students’ engagement in real-life experiences and provide them with an overview on the various production as

well as technical facets of its subsidiaries.

The tour offered an interactive, educational opportunity to the students to learn about the production facilities of DI’s world-class pharmaceutical, building materials and glass products. The school programme offered a fresh and practical approach to the educational process and extended a learning curve to students to take up future careers in the manufacturing sector.

The visit encompassed a presentation, followed by factory tours of the production facilities and students were given the opportunity to ask questions to the experts. Students were then encouraged to put their learning into practice with a range of curriculum-based activities.

Dubai Investments PJSC organised a Blood Donation

Camp as part of its Corporate Social Responsibility [CSR] agenda. Held at the company’s headquarters, in association with the Dubai Blood

Donation Centre – Dubai Health Authority, the Blood Donation Camp received an overwhelming response from employees of various DI entities. This is the second consecutive year that DI organised a Blood Donation Camp.

DI subsidiaries host over

250 students

DI organises Blood

Donation Camp

6

Over 65 employees of Dubai Investments PJSC volunteered

their time and participated in the Walk for Education organised by Dubai Cares in February. As part of its CSR

commitment, Dubai Investments supported the Walk for Education, which is held every year in Jumeirah, and aims to support millions of children worldwide who do not have access to education.

DI volunteersat Al Noor

Fun Fair

DI employeeswalk for

education

As part of their Corporate Social

Responsibility, employees of Dubai

Investments PJSC volunteered their time at

the Fun Fair 2014 organised by the Al Noor

Centre for children with Special

Needs in February. The

volunteers were required to spend a

minimum of four hours at the Fun Fair.

7

Marmum, in association with Hello 89.5 Radio FM, organised

a fun-filled Cultural Retreat at the Marmum Dairy Farm to celebrate Pongal, a traditional Indian festival. Traditional games and lots of other exciting events were organised as part of the event. Over 7,000 people from all walks of life participated in the retreat.

Marmum hosts

Cultural Retreat

DI Family DayOut at Marmum

Dairy Farm

Dubai Investments organised a fun-filled and educational

visit to the Marmum Dairy Farm for its employees and their family members in February. Nearly 70 people, including 20 children, participated in the

family day out. During the visit, Marmum officials provided an insight into the production processes of milk and milk products and the milking process while the children got an opportunity to feed the calves.

8

Globalpharma exhibited a selection of new products,

including the cardio-metabolic range of medicines, as also its branded

generics at Dubai International Pharmaceuticals and Technologies Conference and Exhibition [DUPHAT] 2014, the premier pharma and technology event in the region held in March.

Globalpharma’s new range on show at DUPHAT included Atorlip®, Sartan®,

Glodip®, Emivanz®, Ipoz® and Emipride®, besides Levotab® and the recently-launched EzeAir® and Glozimax®.

At the exhibition, Globalpharma also showcased its branded-generics manufactured in accordance with international quality, safety and production standards. Branded-generics are drugs that are scientifically formulated using the same core chemical ingredients found in the original medicine that is off-patent.

EBS employeereceives

Al Burj award

Globalpharma showcases

latest productsat DUPHAT

Abdulla Abu Hassan from Emirates Building System was conferred the Al Burj Holding Award for Employee Excellence by Tas’heel in recognition of his role as a core influencer in its service portfolio in 2013. Established in 2011, the Al Burj Holding Awards for Employee Excellence

are conferred annually with an aim to promote and strengthen the culture of innovation, creativity and excellence among employees in different divisions of the company. The objective of the awards is to encourage exemplary contributions.

9

Abdulaziz Bin Yagub Al Serkal, General Manager of

Dubai Investments PJSC, rang the market opening bell to celebrate the listing of a 300 million dollar (AED 1.1 billion) Sukuk by Dubai Investments Park Development Co. LLC (DIP) on NASDAQ Dubai.

His Excellency Essa Kazim, Chairman of Dubai Financial Market (DFM) and Secretary General of Dubai Islamic Economy Development Centre, said: “Dubai’s rapid growth towards becoming the global centre for Sukuk is set to gain momentum in 2014, in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to position Dubai as the global capital of the Islamic Economy, under the direction of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. DIP’s decision to list in Dubai demonstrates the important role played by the Islamic capital markets in supporting the funding requirements of a variety of companies that underpin the Emirate’s growth and development.”

Khalid Bin Kalban, Managing Director and CEO, Dubai Investments PJSC, said: “NASDAQ Dubai’s streamlined admissions procedure positioned the exchange as an ideal venue for our Sukuk, in a commercial environment where fast and responsive decision-making is a significant factor. We appreciate the high visibility with regional and global investors provided by the region’s international stock market, as

well as the opportunity to list alongside other prominent issuers of Sukuk.”

Abdul Wahed Al Fahim, Chairman of NASDAQ Dubai, said: “NASDAQ Dubai is delighted to support DIP’s important activities in promoting development in the industrial, commercial and residential spheres through its Sukuk listing. The exchange will maintain its strategy of building critical mass in Sukuk as well as promoting other asset classes, innovation and best practice across the Islamic capital markets sector.”

The bell ceremony was also attended by Hamed Ali, Chief Executive of NASDAQ Dubai; Abdulla Al Awar, Chief Executive of the Dubai Islamic Economy Development Centre; Omar Al Mesmar, General Manager of Dubai Investments Park Development Company; Rohit Walia, Executive Chairman of Alpen Capital; and Sanjay Vig, Managing Director, Alpen Capital.

The Sukuk was more than 13 times oversubscribed in a closely watched test of Sukuk investor demand. Investors placed US$4 billion in orders for the Sukuk, unusually large for a debut Sukuk.

DIP sold the five-year Sukuk at a profit rate of 4.3 per cent, marking the first Islamic issue out of Dubai this year. The investor response comes amid a recent spike in demand by regional banks seeking higher yields.

Lead arrangers Al Hilal Bank, Citigroup, Dubai Islamic Bank and Emirates NBD took full advantage of the demand, and

DIP celebrates

Sukuk listing

To be continued on page 10...

10

the pricing of 265 basis points over mid-swaps came 35 bps inside guidance of MS+300 bps, and even further inside initial profit thoughts of the low 300s over mid-swaps.

European investors took 49 per cent of DIP’s issue, followed by Middle East accounts with 32 per cent. By investor type, fund managers dominated with 65 per cent of the deal.

DIP will use $218m of the proceeds for refinancing older debt while the rest will be invested in the development. Earlier, DIP wrapped up investor meetings in the UAE, London and Singapore before the sale of the five-year notes. Standard & Poor’s assigned a BB rating with a stable outlook.

Dubai Investments Park [DIP] announced that the Phase 8 – the final phase of the 2,400 hectare mixed-use development – is scheduled to be completed by the first quarter of 2014. Once complete, the 430,000 square-metre Phase 8, being constructed at a cost of AED 325 million across two stages, is expected to be a hub for logistics services as a significant portion of land has been allocated for this sector. The Phase 8 entails construction of a total of approximately 375 warehouses and light industrial

units.

The first stage of Phase 8,

which was completed in mid-2012, has been fully leased and is approximately 80% occupied.

Phase 8 comprises a well-planned road network, electricity and water network, sewerage and irrigation system, and district cooling facilities on a total built-up area of 2.4 million square feet. Over the years, DIP has invested in excess of AED 3.5 billion on infrastructure facilities within the Park, and today accommodates over 3,450 tenants and sub-tenants representing a wide array of industrial, distribution, logistics entities and residential units.

DIP final phase nears completion

... continued from pg 9

11

Dubai Investments Park Chief Operating Officer Mr Saeed

Bugaraah handed over an appreciation certificate to Khalid

Murtaza from the DIP Engineering &

Operations Department for his ability to handle emergencies and dedication to work during the department’s monthly meeting in February. Khalid completed 14 years of service with DIP this year.

Glass LLC announced that its coating lines, comprising subsidiaries Emirates Glass LLC [EGL] and Saudi American Glass [SAG], have won projects exceeding AED 140 million in the last quarter of 2013, amidst a sharp surge in construction and infrastructure projects across the GCC, Indian subcontinent and the region.

During the period under review, the new orders include AED 50 million for projects in India, nearly AED 20 million for a railway station project in Saudi Arabia, approximately AED 20 million for projects in Turkey and

Lebanon, and about AED 8 million for a Qatar-based project, among others.

VitroGlaze is a permanent treatment that prevents adhesion and build-up of contaminates on the glass surface. It eliminates the need for harsh chemical solutions and reducing cleaning time by almost 90 per cent.

The orders are for Glass LLC’s self-cleaning VitroGlaze – an eco-friendly glass with a chemically treated surface that keeps away dirt and grime.

DIP Engineeringstaff

honoured

Glass Coating Division

wins orders worth AED 140 million

12

Dubai Investments PJSC has announced that it is targeting

40 per cent growth in the demand for glass during 2014, driven by the acceleration of construction and infrastructure projects in the UAE and across the region.

DI will be catering to this demand through its subsidiary Glass LLC – the glass pioneers in the Middle East and one of the leading glass companies. Glass LLC, which comprises five companies – Emirates Float Glass, Emirates Glass, Lumiglass Industries, Saudi American Glass and Emirates Insolaire, is also augmenting its production facilities in anticipation of this demand.

Within the scope of this, Saudi American Glass – the leading processor of architectural flat glass in the Middle East, has announced a major upgrade in its facility in Riyadh with new machinery and equipment set to increase its glass production capacity by over 50 per cent to 1.4 million square metres of high-

performance coated glass per annum.

Similarly, Lumiglass Industries – one of the leading processors in laminated safety glass in the Middle East – is in the process of expanding its production capacity of bullet-resistant glass by 50 per cent from 130 units to 260 units per month.

According to estimates, more than 1,300 construction projects are expected in the UAE alone, valued at approximately $418 billion, while Qatar has seen an exponential rise in infrastructure and construction projects in preparation for FIFA 2022. Across the GCC, another 300 projects worth $143 billion are in the design, planning or bidding states, as per the estimates.

Glass LLC is also expected to aggressively tap into the export markets in the coming months, to complement its existing presence across GCC, MENA, Eastern Europe, India and part of South Africa. The automotive bullet-resistant glass has also seen increased demand from Canada, Pakistan, Iraq, Afghanistan, Jordan and Lebanon.

Dubai Investments PJSC announced the appointment of

Mr. Rizwanulla Khan as the

Executive President for its glass subsidiaries – Emirates Glass, Lumiglass and Saudi American Glass.

In his enhanced profile, Mr Khan is responsible for the operations and coordination in all the three companies across sales & marketing, estimation, procurement, distributions and finance functions. He is also responsible for ensuring profitable operations of the companies, and be involved in business planning and implementation of short and long-term business objectives.

Rizwanulla Khan

appointed Executive

President of 3 Glass

subsidiaries

DI targets 40% surge in glass demand

in 2014

13

Emirates Float Glass [EFG] has received a special appreciation award from the Department of Economic Development [DED] – Abu Dhabi for its contribution in improving the non-oil exports from the Emirate of Abu Dhabi during 2013.

The total value of exports achieved by EFG during 2013 was approximately AED 200 million. HE Mohammed Omar Abdullah, Under-Secretary, Department of Economic Development, Abu Dhabi, presented the award to Joy Mathews,

Director – Engineering and Projects at EFG, at a special ceremony attended by top government dignitaries.

One of the largest single-location integrated glass manufacturing facilities in the UAE, EFG endorses world-class standards and practices in its delivery commitments. As on date, EFG exports to over 61 countries spanning South America, Europe, Australia, Far East Asia and Africa, in addition to the GCC states.

Dubai Investments PJSC unveiled its new solar panel innovation which sets new standards in sustainability at the 7th World Future Energy Summit [WFES], held in Abu Dhabi in January 2014. The breakthrough technology, which reinforces Dubai Investments’ commitment to sustainable business practices, is being manufactured by its subsidiary Emirates Insolaire.

Optimised for both photovoltaic modules and solar thermal collectors, the Emirates Insolaire solar glass, feasible in virtually any colour, opens up new aesthetic opportunities to the Building Integrated Photovoltaic [BIPV] and Building Integrated Solar Thermal [BIST] sectors. Each coloured solar PV module produced with KromatixTM technology can generate over 130 Watts electric power per square meter on roof installations or over 100 Watts electric power per square metre on façades.

Facilitating this sustainable model, another DI subsidiary Emirates Glass LLC [EGL] was the exclusive supplier of energy-efficient glass in the Eco-Villa, a life-sized villa showcasing eco-friendly products set up in the Sustainable Living Area at the WFES. EGL was also the exclusive

provider of glass for the Eco-Hotel, a

model hotel suite developed by Rotana

Hotels.

Rafic Hanbali, Managing Partner, Emirates

Insolaire, also made a presentation on

‘Building Integrated Photovoltaics: How

buildings will produce their own energy

needs’ at the Sustainable Living Theatre

within WFES.

At the exhibition, EGL highlighted the

Emicool® E-Lite range of products - a high

performance solar control coating which is

applied to clear float glass and offers the

designer a unique choice of

aesthetics.

EFG receivesDED

Abu Dhabi award

DI showcasessolar panels

at WFES

Dubai Investments PJSC - Tel: (+9714) 8122 400, Fax: (+9714) 8122 344,

Dubai, UAE P.O.Box 28171, www.dubaiinvestments.com

When it comes to real estate, we are a trusted name with diversified expertise. Our success is reflected in our vibrant

communities, mixed-use residential, commercial and industrial development, a vast land bank of 30 million sqft

GFA and an enviable portfolio of over 18 manufacturing companies dealing in wide-ranging construction materials.The

results inspire us to add more value to real estate.

Empowering real estatebeyond just buildings

Dubai Cranes

•White Aluminium Extrusion•Emirates Extrusions Factory

•International Rubber•Techno Rubber

Gulf Dynamic Switchgear

Lite-Tech Industries

Folcra Beach

Gulf Dynamic Services

Emirates Extruded Polystyrene

Property Development

Land Bank Construction Materials•Emirates Float Glass •Emirates Glass•Lumiglass Industries •Emirates Insolaire

•Saudi American Glass

•Emirates Building Systems•Gulf Metal Craft

15

Gulf Dynamic Services [GDS] is targeting 30% year-on-year

growth in turnover during 2014 – riding on the demand for quality fit-out

solutions amidst ongoing construction boom in the region. The company is also aggressively looking at expanding its portfolio across Saudi Arabia, Africa and Erbil as well as Basra in Iraq, among other countries.

GDS is also eyeing opportunities in the hospitality sector in the UAE and the region to complement its existing project portfolio. GDS is associated with a number of iconic projects including

banks, retail outlets, corporate offices and residential units in the UAE and has witnessed strong growth over the last two years following the resurgence of construction activity. The company achieved 60% increase in turnover in the last year alone.

With prestigious projects under its belt, including the Dubai Insurance Building interior refurbishing, over 13 branches of Union National Bank [UNB], the Abu Dhabi Islamic Bank [ADIB] building in Erbil among others, the company is now aggressively targeting the booming hospitality sector.

Emirates Extrusion Factory [EEF] participated in the 16th

edition of Saudi International Building & Construction Exhibition [BUILDEX], which was held in February at the Dhahran International Exhibitions Center in Dammam, Saudi Arabia.

The company, which sees a huge growth potential in the rapidly-expanding building & construction

market within KSA, interacted and networked with other suppliers and contractors during the exhibition.

With over 10,000 architects, contractors, property developers, designers, engineers, suppliers and distributors participating in the exhibition, EEF used the opportunity to reinforce its market leadership in the development and production of high-quality aluminium systems.

EEF participates in BUILDEX

Saudi Arabia

GDS targets 30%year-on-year

growth

16

Emirates Extrusion Factory [EEF] announced plans to add

a new production line at its aluminium extrusion plant in Techno Park, Dubai entailing an investment of AED 13 million. The new line, to be added by mid-2014, will further augment the production capacity to 6,000 metric tonnes and will go a long way in bolstering the company’s leadership in the sector.

This new line will boost the production of wooden finish and powder-coated

aluminium, which augurs well for EEF amidst surging demand due to the construction boom in the region.

The company, which reported annual turnover of AED 190 million in 2012, also unveiled plans to aggressively target the export markets in the wake of burgeoning construction activity across Saudi Arabia, Qatar, Oman, Yemen and Africa. EEF currently exports nearly 60-70% of its production to various countries across the Middle East and Africa.

EEF to investAED 13m for

production line

Emirates Building Systems. Since 1997, we have been supporting prestigious projects with hot rolled structures, pre-engineered buildings, aluminium and steel sheeting, insulated panels, building accessories, etc. Respected companies in diverse sectors like residential, commercial, industrial, power, oil & gas, and aviation rely on us for their project requirements. Whatever your building needs, we can deliver. Talk to us.

The power to build.

P.O. Box: 31396, Dubai, UAETel: +971 4 885 1122, Fax: +971 4 885 1211E-mail: [email protected] Website: www.ebsl.com