Dubai Chamber launches new groups to boost construction sector
DUBAI, February 2, 2023
The Dubai Chamber of Commerce has announced the launch of four business groups within the construction sector in bid to support and boost its growth.
These business groups are - building materials, cement and ready-mix, ceramics and paint coating and gypsum business groups.
Dubai Chambers President & CEO Mohammad Ali Rashed Lootah said these groups will encourage transparent communication among their members and drive the growth of the construction sector in Dubai, which has a market size valued at $81 billion in 2021 with a projected average annual growth rate of more than 3% from 2023 to 2026.
Between 2011 and 2021, Dubai's trade in paint and gypsum amounted to AED11.6 billion, while ceramic trade was AED35.4 billion, cement trade was AED555 million, and building materials trade was AED247.4 billion, stated Lootah.
According to him, 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 chamber plans to expand the number of business groups representing different economic sectors and activities to 100 by March 2023, he added.-TradeArabia News Service
