Dubai-based Rasasi Group, a leading fragrance manufacturer, has signed a project agreement with Dubai Industrial City for establishing of a full-fledged perfume manufacturing and packaging facility.

A premier name in the regional retail fragrance landscape, Rasasi group offers a wide range of Oriental and Western fragrances. The new plant will enable Rasasi group to scale-up its production in anticipation of a spurt in regional and global market demand.

Abdul Razzak Kalsekar, chairman, Rasasi Group, said: “We are thrilled to set up our base in Dubai Industrial City for its unique benefits of location, logistics and world-class infrastructure. The move comes as a decisive step in our growth strategy and a perfect fit in our mission to reinforce our presence in a region that is poised for strong growth.”

“Our decision to build a new plant at Dubai Industrial City also underlines our commitment to expand amidst challenging global economic environment. The new facility will enable us to reach higher levels of production to meet demand and broaden our regional & global market access.”

Abdulla Belhoul, managing director, Dubai Industrial City, a member of TECOM Investments, said: “Rasasi Group has decided to capitalize on Dubai Industrial City’s inherent strengths. The hub’s modern infrastructure and the availability of several advanced industrial facilities under one roof are some of the attractions that have encouraged Rasasi Group to invest in the destination.”

“We are confident the new operations will drive and expand Rasasi group’s regional and global footprint while reducing its operational and logistical costs.”

The Middle East perfumes market is worth an estimated $3.5 billion per annum, which accounts for approximately a fifth of the global market that stands at $17 billion.

The regional perfume sector has grown at a compounded annual rate of over five per cent during the last six years and is projected to touch $10 billion by 2015. The Middle East also ranks the highest in the world in terms of per-capita perfume consumption: an average of $350 every year. – TradeArabia News Service