SCT Co, the international trading arm of the Siam Cement Group, expects sales in the Middle East to grow by 30 per cent next year from a record two billion baht this year to tap growing wealth in the region, according to the managing director Kalin Sarasin, the Bangkok Post reports. "We’re confident that our Middle East centres will perform very well this year despite having only one representative office. Sales are expected to grow by at least 30% next year," he said.
Kalin said the company had set up its first representative office in Dubai this year, with plans for new offices throughout UAE, which is a gateway into the Middle East market. This year, the company recorded sales of nearly two billion baht from the office. Of the total sales, 80 per cent are building materials, particularly cement and gypsum products, driven by the rapid growth of construction and infrastructure projects as well as property development projects in the region.
The company would be expanding its business in the region to other areas such as servicing and managing warehouses for foreign investors in Dubai. The UAE economy has been robust over for five years, driven by the government’s investment stimulus policy to drive economic growth. The value of construction projects in Dubai now exceeds 100 billion baht yearly, according to Mr Kalin.
SCT is currently conducting a feasibility study in order to establish new offices in other countries in the Middle East. He said the company also planned to open more offices in other emerging countries, particularly India and China.