UAE's Danube plans Dh200m ex­pan­sion

The Pak Banker - - COMPANIES/BOSS -

Danube Group has planned to open five more home fur­nish­ing stores worth around Dh200 mil­lion by the end of 2016.

Last month, the group's retail arm Danube Home opened the 60,000 sqft flag­ship store in Dubai with an in­vest­ment of Dh40 mil­lion. Five new stores will be in the range of 50,000 sqft to 70,000 sqft each and there will be one in Abu Dhabi and four in Oman, chair­man Rizwan Sa­jan said re­cently.

At the mo­ment, Danube Group has to­tal 14 retail stores in all six Gulf coun­tries and ma­jor­ity of them are lo­cated at dif­fer­ent lo­ca­tions across the UAE.

The home im­prove­ment sec­tor has grown rapidly in the past few years across the world as ev­ery­one wishes to have a home ad­mired in their cir­cles and so from floor­ing and roof­ing to fur­ni­ture and drap­ery, from bath­room and kitchen re­fur­bish­ment to bed­room, draw­ing and din­ing room dec­o­ra­tion, new styles ma­te­rial and ideas evolve on a daily ba­sis.

Peo­ple's high in­ter­est in mak­ing home and of­fices beau­ti­ful is what ac­cel­er­ates the de­mand of home fur­nish­ing prod­ucts. The in­te­rior de­sign in­dus­try it­self wraps a whole new world in­side it.

It es­ti­mated that the global home im­prove­ment and home fur­nish­ing retail in­dus­try is ex­pected to reach an es­ti­mated value of $2.29 tril­lion by 2019. The ma­jor driv­ers of this in­dus­try are in­creas­ing new and ex­ist­ing home sales, in­creas­ing dis­pos­able in­come, ris­ing con­sumer spend­ing, re­mod­el­ing and ren­o­va­tion of homes, ur­ban­i­sa­tion, and in­creas­ing middle-class pop­u­la­tion. In­no­va­tion in prod­ucts, cost con­trol, sup­ply chain and lo­gis­tics man­age­ment will fur­ther drive this in­dus­try.

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