The Dubai Chamber of Commerce, under Dubai Chambers, has launched four business groups within the construction sector to support and boost its growth.
These groups are the building materials business group, cement & ready-mix business group, ceramics business group, and paint coating & gypsum business group.
The President & CEO of Dubai Chambers, Mohammad Ali Rashed Lootah, stated that 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. The four new business groups launched by the Dubai Chamber of Commerce aim to promote the growth of construction companies and raise the profile of Dubai's construction sector in the international business community.
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.
News Source: Emirates News Agency