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FINANCIAL NEWS
Danube to open 15 more Buildmarts in the Middle East
04 Jul 2011
(MENAFN) Danube Building Materials, a Dubai-based construction product supplier, announced a plan to open 15 new retail outlets in the Middle East by 2012, Arabian Business reported.
Danube saw revenue growth of 21 percent in the first six months of 2011 and expects to generate USD435 million this year. Danube plans to more than double in size to bring in USD1 billion per year by 2015, Rizwan Sajan, Danube chairman, said.
Danube’s retail arm, Danube Buildmart, grew by 46 percent in 2010 and is expected see revenue growth of 40 percent in 2011.
Danube already constructed three Buildmarts this year in the UAE to bring Danube’s country total to 14. Danube also had two stores in Oman, one in Bahrain, one in Saudi Arabia and one in India.
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