In a bid to support and boost the growth of the construction sector in the emirate, the Dubai Chamber of Commerce has announced the launch of four business groups: building materials; cement and ready-mix; ceramics and paint coating, and gypsum.
According to Dubai Chamber of Commerce’s President & CEO, Mohammad Ali Rashed Lootah, the groups will encourage transparent communication among their members, and drive the growth of the construction sector in Dubai, which had a market size valued at US $81bn in 2021, with a projected average annual growth rate of more than 3% from 2023 to 2026.
Lootah said that between 2011 and 2021, Dubai’s trade in paint and gypsum amounted to $3.16bn, whereas ceramic trade was $9.63bn, cement trade was $151.1mn, and building materials trade was $67.36bn. He noted that the new business groups have been launched to promote the growth of construction companies and raise the profile of Dubai’s building sector in the global market.
The business groups will provide a platform for stakeholders and government entities to address industry-level challenges and policy matters related to the construction industry, the statement said.
The Dubai Chamber of Commerce plans to expand the number of business groups representing different economic sectors and activities to 100 by March 2023, he concluded.
