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29 March 2024

Godrej Locking eyes UAE’s half a billion dirham market

Shyam Motwani and Adel Saeed Esbaitah at the press conference in Dubai on Thursday (Supplied)

Published
By Waheed Abbas

India’s Godrej Locking Solutions and Systems aims to tap UAE’s over half a billion dirham market by appointing a distributor and expanding its product range at the retail outlets across the country, said a senior official in Dubai on Thursday.

Shyam Motwani, Executive Vice President and Business Head, Godrej Locking Solutions and Systems, said: “Our research shows that the UAE market is estimated at $300 million (Dh1.1 billion), half of which is re-export. Out of that $150 million (Dh550.5 million) market, $100 million is the local B2B market – mainly real estate, hospitality and airport – while the remaining $50 million is retail market.”

It has partnered with the UAE-based hardware solution provider Sabano Trading, a subsidiary of Kuwait’s Sadeem Group, to sell its products in the emirates and Kuwait.
 
“Our whole focus is now on the UAE for the next 2-3 years and the aim is to double existing market share in two years; the plan is to have at least 450 retailers in the next three years from the current strength of 250 retailers,” said Motwani.

The UAE market is showing signs of recovery  and Motwani believes that it’s right time now to expand aggressively in the local market to grow substantially.

In January 2014, Godrej Locking Solutions opened a 4,200-square metres in Dubai. To cater the Gulf region, it has branches in Sharjah and Riyadh, Saudi Arabia. In the last 8 years, it forayed into same number of regional markets.

Adel Saeed Esbaitah, Chief Executive Officer of Sadeem Group, said the group is looking in to opening offices in Qatar and Oman.

Investing in Dubai real estate


Esbaitah said his Sadeem Group, which is a major real estate development and contracting company in Kuwait, has invested Dh20 million in Dubai’s real estate sector, buying apartments and other assets.

Replying to a query about the group’s plan to develop property projects in the UAE, Esbaitah said: “We are looking into developing projects in Dubai and Abu Dhabi but since it’s book-closing time at the end of year, it’s difficult to reveal further details.”