UAE's Danube plans Dh200m expansion
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.