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Glass conglomerate to meet the GCC demand

Dubai Investments has brought its assets in the glass manufacturing industry together under a new holding company. Glass LLC will incorporate the four DI subsidiary companies: Emirates Glass, Emirates Float Glass, Lumiglass Industries and Saudi American Glass.

The four companies manufacture many different types of glass and are located across the UAE and Saudi Arabia.
“The unprecedented growth in the regional real estate, automotive and industrial sectors has generated massive demand for high-performing, eco-friendly and technologically superior varieties of glass,” said Khalid Kalban, managing director and CEO, Dubai Investments.

“Dubai Investments’ new arm, Glass LLC has been formed in order to cater for the increasing demand for glass products in the region, particularly from the booming construction and real estate sector.

According to Kalban, the GCC consumes 1.1 million tonnes of glass annually. Local output is currently 150,000 tonnes, with manufacturing capacity set to increase to 450,000 tonnes. That leaves a considerable amount, around 650,000 tonnes, that is still not supplied by local manufacturers.

“In the UAE alone, the construction industry’s expenditure on infrastructure and real estate projects is expected to reach AED850 billion over the next five years. Similar large-scale projects are being built across most of the GCC states, which will result in projected expenditure of AED31 billion on glass products alone,” Kalban said.

Dubai Investments said in a statement that it intends to acquire more glass companies in the “near future”.

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