Four business groups within the construction sector launched
Photo used for illustrative purpose.
Commenting on the launch of these business groups, Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, said: “I am pleased to announce the launch of these business groups as they are important components of Dubai’s vibrant construction sector. There has been a rebound in the construction sector since 2021, driven particularl Dubai Chamber of Commerce announced that the new groups are Building Materials Business Group, Cement & Ready-Mix Business Group, Ceramics Business group and Paint Coating & Gypsum Business Group.
y by residential construction projects. The UAE’s construction market size has been valued at $81 billion in 2021 and it is projected to grow at an average annual growth rate of more than three per cent from 2023 to 2026.”
“Our role at Dubai Chambers is to support the various economic sectors in the emirate including construction. Building materials, cement and ready-mix products, ceramic products as well as paint and gypsum products are all cornerstones of the construction sector. The setting up of these four business groups will encourage transparent conversations between their members, boosting the positive trajectory the construction sector is already in.”
In the period between 2011 and 2021, Dubai’s trade of paint and gypsum reached Dhs11.6 billion, while the emirate’s trade of ceramic totalled AED35.4 billion, and its trade of cement recorded Dhs555 million, and building materials trade reached Dhs247.4 billion.
The four new business groups will focus on promoting the development of construction companies, raising the profile of Dubai’s construction sector in the international business community.
By providing a forum that facilitates mutual dialogue between the sector’s stakeholders and government entities, the business groups will tackle industry-level challenges and address policy matters related to the industry, amongst others. The business groups are part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai.
The chamber plans to increase the number of economic sectors and activities represented by business groups to 100 by March this year.
In November 2022, The Dubai Chamber of Commerce announced the establishment of two new business groups, which are “The Bottled Water Business Group” and “Circular Packaging Association”. As part of its efforts to enhance the private sector’s contributions to the emirate’s economy, the Dubai Chamber of Commerce launched the new business groups within the framework of its plans to increase the number of business groups that represent economic sectors and activities in the Emirate of Dubai, and ultimately, to ensure all industries and economic activities are represented to boost their competitiveness and drive Dubai’s growth.
