Dubai: Dubai-based furniture and interiors supplier Al Reyami Group last year generated a record Dh600 million turnover, benefitting from a strong demand in the office interiors sector fuelled by strong growth in the commercial real estate market.
"Among this more than half or Dh300 million is generated by manufacturing and supplying furniture and interior products," a top official said.
The growth in its business reflects a growing demand for furniture and interior products fuelled by a 16 per cent GDP growth in Dubai.
The Group, which includes 27 companies involved in a wide variety of activities ranging from steel fabrication to glass processing and woodworks, has opened a large showroom in Dubai, a top official said.
Al Reyami Group has inaugurated its new corporate headquarters and a showroom in Dubai on Wednesday. The new building is "a turning point in the remarkable and accomplishment-studded history of the multi-faceted conglomerate company", a statement said.
It will be the hub of all Al Reyami integrated corporate activities whilst housing all 27 constituent companies under its roof. The new corporate headquarters comprise of showrooms on ground and mezzanine floors and offices on the other two floors.
"We have invested Dh60 million in setting up a new 60,000 square feet state-of-the art showroom in Dubai, that will cater to the needs of office furniture and interior decoration of new companies and offices," he said, requesting anonymity.
New companies
Demand for office furniture and decor is witnessing a strong growth due to the influx of international companies.
A lot of multinationals are entering the market with opening offices, while those present in the market, are expanding their operations rapidly.
Haliburton moved its global headquarters recently, which will add to the existing demand for commercial space.
Dubai Properties, the real estate arm of Dubai Holding, is developing Business Bay - the new commercial district that will house 230 towers, bringing in sizeable commercial space that is expected to tame the market.
Apart from that, the 79-tower Jumeirah Lake Towers commercial cluster will also help the rising demand to soften.
"We have opened an office in China mainly to identify and source material while our three showrooms in Indian cities of Chennai, Bangalore and Hyderabad caters to the Indian markets," Sreedharan, managing director of Al Reyami Group said.
He said, the group does not have any plans to go public in the near future.
"Not in the near future, but may be later," he said.
