Compounded annual growth rate of approximately 35.8% achieved over 5 years
With breakthrough advances and innovative concepts in glass solutions, Dubai Investments PJSC’s glass holding subsidiary – Glass LLC – has now raked in a 45% market share, gaining a stronger foothold and giving a major impetus to the group’s growing glass business. The glass business performance has registered a growth in revenue from AED 412m to AED 562m over the last 5 years, resulting in a compounded annual growth rate of approximately 35.8%.
Glass LLC provides premium quality glass solutions across a wide array of industries, from construction to automotive, at a total of 5 production facilities, incorporating glass companies namely Emirates Glass (EG), Lumi Glass (LG), Saudi American Glass (SAG) Emirates Insolaire and Emirates Float Glass (EFG). The company continues embarking on aggressive expansion of its production capacities across various subsidiaries catering to the architectural and flat glass businesses. In line with government initiatives promoting and encouraging manufacturing firms to seize available localization opportunities, the companies under Glass LLC have intensified efforts, stimulating the local production capacity and producing a total of 14,157 million m2 in the past year.
Commenting on the performance of Glass LLC, Abdulaziz Bin Yagub Al Serkal, CEO, Industrial Platform, Dubai Investments PJSC, said, “Combining extensive experience with an ambitious vision, Glass LLC has adopted sustainable growth strategies and aims to accelerate the overall demand for glass as an energy efficient alternative for construction industry. According to industry reports, the market for flat glass, extensively used in construction industry, is poised for solid growth with its sales likely to surpass the $130-billion mark by 2024.”
Glass LLC’s glass companies are focused on catering to changing regulations and stringent performance criteria’s in construction design and continue augmenting their range of products. The companies are thriving to reinforce product range by strengthening existing line up with advanced products, complementing multifunctional offerings.
Emirates Glass has introduced new products and is aiming a market share of 35% compared to 31% last year. As the leading supplier of sputter-coated energy saving glass across the Gulf and with presence in markets across the globe, Emirates Glass currently operates a 60,000 sq m production facility in Al Quoz industrial area and a 32,825 sq m post-temperable glass coating line in Dubai Investments Park (DIP), operational since 2010.
Emirates Glass today supplies glass and glass solutions to GCC countries such as the KSA, Oman, and Kuwait as well as to Azerbaijan, Australia, Kenya, Lebanon, Turkey, India, Sri Lanka, Pakistan, Bangladesh, East and South Africa, and Canada. This highlights the focus of the company to further enhance its geographic footprint and evolve as a leading provider of quality glass products globally. The Emaar Skyview project in Dubai has been Emirates Glass’s latest phenomenal project alongside others namely Ministries Complex in Kuwait, The Glasshouse at The Quranic Park in Dubai, the Enterprise Command and Control Centre (EC3) for Dubai’s Roads and Transport Authority; and the ITCC and MAAD towers in Saudi Arabia.
Redefining aesthetics and providing a new dimension to the usage of glass is Emirates Insolaire’s coloured solar panels. Emirates Insolaire’s coloured solar glass and coloured photovoltaic modules using the Kromatix™ patented technology provides colored solar glass for both photovoltaic and thermal solar panels, providing a complete solar solution that can be adapted into any façade or roof of a residential or commercial building, and integrated into any architectural design.