As part of its strategy to reinforce its presence across the globe and particularly in Africa, Dubai Investments PJSC [DFM: DIC] – the leading, diversified investment company listed on the Dubai Financial Market [DI], has announced strong participation at Big 5 Construct East Africa 2016 exhibition, currently under way in Nairobi, Kenya.
Dubai Investments’ participation in the exhibition is focused on promoting its innovative products and solutions in the building materials and infrastructure sectors, amidst rampant construction activity in East Africa. Through its subsidiaries, the company has completed or undertaken projects worth over $83 million across Africa.
Dubai Investments subsidiaries – Emirates Glass, Emirates Float Glass, Emirates Building Systems, Emirates Extrusions Factory, Lite-Tech Industries LLC and Labtec LLC are showcasing their cutting-edge technologies in building materials, construction and related industries. The exhibition will run till November 4, 2016 at the Kenyatta International Conference Centre (KICC) in Nairobi. Over 150 companies from 20-plus countries are participating across 35 product categories.
The exhibition comes in the wake of massive construction in East Africa with Kenya, Mozambique, Ethiopia, Tanzania and Uganda forecasted to continue to grow at more than 6% year-on-year.
Abdulaziz Bin Yagub Al Serkal, General Manager of Dubai Investments, said: “The African market is a strategic growth market for Dubai Investments, as it offers potential opportunities for investment and trade, particularly in the real estate and construction sectors. Through its subsidiaries, Dubai Investments aims to collaborate on projects in the region and extend its proven expertise and innovation. The Big 5 Construct East Africa exhibition offers the perfect platform for Dubai Investments to build business relationships with relevant industry partners.”
At the exhibition, Emirates Glass is showcasing a wide range of its products; Emirates Float Glass is presenting clear, tinted and reflective glass (bronze, grey, dark grey, green); and Emirates Building Systems is providing an overview of its steel structures for infrastructure projects. Emirates Extrusion has on display its range of aluminium profiles, Lite-Tech Industries is presenting its lighting fixtures and LED technologies while Labtec LLC is showcasing its laboratory furniture and projects.
Through its subsidiaries, Dubai Investments have a strong presence in projects across Africa. Emirates Building Systems has supplied steel, fabrication structures for various projects, which include the Reggane Nord Development Project in Algeria [contract worth $6 million], Algeria Timimoun Field Development Project in Algeria [$2.86 million], Power Plant in Algeria [$5.47 million], Abenco Trading in Ethiopia [$25,000], The Power House Building, Kenya [$765,000] as also projects in Mogadishu, Senegal, Somalia among others.
Labtec has also supplied to a number of projects in Africa, including projects in Arba Minch, Ethiopia worth $91,459 – completed in 2016, Ostuka Pharmaceutical in Egypt [$138,000- completed in 2016], EVA Pharmaceuticals in Egypt [$255,000 – completed in 2016] and in advanced negotiations for hospital and university projects in Eritrea and Ethiopia.
East Africa continues to be the preferred hub of infrastructure development, with a number of projects currently under way. This includes the Grand Ethiopian Renaissance Dam in Ethiopia [$5 billion], 3,000-km Mombassa-Kigali Rail project [$3.8 billion], $14.5 billion Konza Techno City in Kenya, $125 million Bridge Jinja in Uganda, $654 million Jomo Kenyatta Airport upgrade in Kenya, apart from a wide array of oil pipeline, road network and infrastructure projects.
About Dubai Investments PJSC:
Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market with over 19,800 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the company has grown exponentially with investments in a number of businesses across three core sectors – real estate, manufacturing & industrial and financial investments across the UAE and the Middle East.
Since inception, Dubai Investments has challenged the norms and introduced cutting-edge technologies, pioneering business models, unique investment strategies and innovative concepts across its diversified portfolio spanning different sectors and markets across the globe. Dubai Investments currently has over 40 subsidiaries & joint ventures under its portfolio, across a wide array of industries and continues to seek new investment opportunities in new sectors, locally and internationally, as part of its strategic expansion plans.