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Dubai: A foray into property development and branded F&B (food and beverage) as well as organic growth in its core business of building materials aided a 15 per cent year-on-year gain in revenue growth for Danube Group. Turnover from building materials was Dh2.3 billion, while the real estate subsidiary added another Dh500 million, the entity said in a corporate statement. It projects an 18-20 per cent growth this year.
“We were a little sceptical at the start of the year, especially with the results received in the first quarter,” said Rizwan Sajan, Chairman, Danube Group. “It was after March where the growth curve took a steep hike, even though the market did not give any noteworthy results.
“Sales started picking up from the second quarter, and thereafter maintained an upward performance graph throughout the year. Our best months were June-July where the launch of our realty division gave a boost to our performance for the year.”
The group launched two off-plan projects in Dubai, with both focused on the mid-market and the end-user buyer, during the second half of the year.
Going forward, it plans to launch a men’s apparel brand, most likely towards the end of the year.
Source: Staff Report, gulfnews.com