The Dubai headquartered construction machinery major targets AED 500 million turnover with the opening of new showroom, which spans over a total of 6,000 sq.ft.
Dubai, UAE, November 07, 2018: Finetools, a major provider of hardware and machinery to the construction sector in the UAE, is forecasting a turnover of AED 500 million within the next three years with the opening of their flagship showroom at Dubai Hardware & Building Materials Market in Al Warsan 3 industrial neighbourhood. The newly developed hub by Dubai Municipality is dedicated for trading construction supplies and machinery.
Finetools is a leader in industrial power tools, machines, construction equipment, hardware, safety devices and accessories; and the parent company of hardware and tools brand Uken.
Mr. Faisal Juma Al Bedawy, Head of Markets at Dubai Municipality, inaugurated the 6,000 sqft size showroom in the presence of Finetools Managing Director Mr. VK Shamsudheen, and Directors Mr. VK Abdul Salam and Mr. VK Abdul Gafoor.
The Hardware and Building Materials Market, developed by Dubai Municipality at an investment of AED 96 million for hardware and building materials trading, covers an area of 11 hectares and built on an area of 459,000 square metres. The project is developed in line with the vision of His Highness Shaikh Mohammad bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to preserve local resources and build a green economy.
Commenting on the showroom opening, Mr. VK Shamsudheen, Managing Director of Finetools, said, “We are glad to launch of our flagship showroom in the newly-developed Dubai Hardware and Building Materials Market by Dubai Municipality, an initiative for industrial and technical requirements. We are proud to be among the first to foray into this new market place, a model of government support with investor-friendly regulations to help increase construction activities. We showcase the highest quality genuine products, industrial power tools and construction equipment of best brands from around the world.”
“This showroom will accelerate our strategies to enhance our market share in the UAE, which is the largest construction market in the GCC. The UAE construction sector is benefitting greatly with the current developmental activities to host the Dubai Expo 2020. The current government infra projects are boosting the construction equipment business in the UAE. This is in addition to the growth in commercial, residential and industrial construction sectors expected to accelerate our business in the next two to three years,” he added.
Mr. VK Abdul Salam, Director of Finetools, said, “This showroom would help us accelerate our growth and make innovation in hardware easily available to both individual end-users and construction companies alike. Our mission is to become the leading company in the field of construction materials, power tools, industrial machinery, safety equipment, and a range of other industrial products.”
Mr. VK Abdul Gafoor, Director of Finetools, said, “Our new showroom stocks and displays all kinds of building materials, tools, safety equipment and other products. We are also upgrading our existing facilities as part of our aggressive expansion plans catering to the industrial and construction sectors. Finetools has more 12 outlets in the UAE with presence in other GCC countries. We are expanding our presence further aimed at catering to more customers across the region.”
The Uken brand, under Finetools, has gained popularity among the end-users and skilled construction professionals in the region. Finetools is also an authorized dealer of a range of global hardware and technology brands including Dewalt, Makita, Hitachi, ESAB, 3M, Rothenberger, Fevicol, Fischer, Starret, Weicon, Dulux, Victor and Bosch, to name a few.
The Dubai Hardware and Building Materials Market comes as part of Dubai Government's continuous efforts in setting up market projects in the city and making them available to residents and visitors which, in turn, adds to the economic growth of the city. The market has massive parking area for visitors and trucks and an area for loading and unloading the trucks.