"Despite the global economic crisis, our group has recorded 20 per cent
growth in terms of sales and demand for building material supplies,"
said Mian Mohammad Muneer, CEO of the Mohammad Ibrahim Haji (MIH)
Group.
Speaking at the annual award dinner of the MIH Group held at the
Atlantis Hotel on Palm Jumeirah, Muneer said that building material
prices, which crashed almost 50 per cent in the last quarter of last
year, have regained up to five per cent.
"It is a very healthy sign as we can see an increase in demand for
building material supplies due to the revival of construction
activities," he added.
MIH Group is one of the leading importers, distributors and retailers
of building materials in the UAE, with a vast variety of around 13,000
building materials. It has 35 branches, including 22 in the UAE and 13
in Oman.
"We are planning... to expand to other GCC countries with the opening
of at least 10 branches of the MIH group across Saudi Arabia by 2010,"
Muneer said.
He added that the company would also enter markets in Bahrain, Kuwait
and Qatar in addition to launching its global operations by 2012.
The group, which has its headquarters in Al Ain, is now planning to
have a greater presence in Dubai as well, with aggressive marketing.
"While the construction activity was going well in Abu Dhabi and Al
Ain, we have also seen a surge in building material supplies in Dubai
in recent months," he noted.
Mohammad Ibrahim Haji, who established the MIH Group with the launching
of a steel fabrication factory in Al Ain in 1975, also gave awards at
the iftar reception to diplomats from various countries for their
cooperation in business activity.
Source: Zawya
