Toshiba Elevators expects to double its turnover in the Gulf Co-operation Council states, said the CEO of the company yesterday.
Shunichi Kimura, Global President and CEO of Toshiba Elevators and Building Systems, Japan, said the contracts his company won in the recent past in the country indicates that the recovery in UAE's property sector is accelerating. "The global recession is an international phenomena and affects everyone. However as far as the UAE is concerned, our planning helped us do well even during the recession."
Kimura said: "We expect to execute projects worth more than Dh300 million in 2010-11. Toshiba Elevators has been active in the UAE for the past five years, and has done quite well.
"The projects involve approximately 750 units of various sizes. I am amazed and thrilled to see the development of this country which is on par with that of developed nations."
He said the emirate of Abu Dhabi has emerged as a key market for the firm.
Last year, the firm completed projects worth more than Dh100m on Reem Islands' Marina Square, involving 126 elevators in 13 towers. This year, it has won a new order worth Dh140m on Reem Islands' City of Lights, covering more than 22 towers.