By Michael Fahy
Rizwan Sajan plans third Danube Properties project soon; also plans retail move with menswear stores
Building materials company Danube has said that it achieved a 15 percent growth in sales in 2014 to $626m (AED2.3bn).
The company, which is owned by founder Rizwan Sajan, said its new property firm, Danube Properties, also achieved sales of $136m (AED500m) despite only announcing its first project in June.
The company said 40 percent of its revenues came from the UAE, 30 percent from Saudi Arabia, 20 percent from Oman and 10 percent from other markets.
Sajan said the company, which began by offering building products to the trade, now plans to roll out its rebranded Danube Home brand of retail outlets with new showrooms in Dubai, Sharjah, Muscat and Qatar.
He is also diversifying into retail with tea and snacks outlets Cha Cha Chai and a men's fashion brand by the end of the year. Seven small Cha Cha Chai stalls have already been launched in Dubai and six more are planned.
"Also, we will continue our foray into the real estate sector as we expect to announce our third residential project very soon. This new project will primarily comprise of apartment buildings.”