UAE-based building materials company supports Russian and European construction projects
With Expo 2020 fast-approaching, various major industries in the UAE are benefitting from increased inflow of investments. The construction industry is particularly on a high, which is expected to experience a four per cent growth this year. This makes it among the country’s most important industries that help counter the undesirable effects of flagging oil prices.
In Ras Al Khaimah, G&N Enterprise FZE is one of the successful players in the industry, engaging in the distribution of electrical and building materials, construction equipment, and machinery spare parts. The company began operations in 2013 at RAK FTZ.
The company’s Shareholder and Manager, Nairui Ter-Kazaryan said that G&N Enterprise’s key markets are Russia, Belarus, Latvia, Turkmenistan and Bulgaria. “We have been supplying high-quality construction When asked what made the management go for RAK as a business platform, she said: “Well, the entire country is free from taxation, which is really helpful for traders like us, but what’s good about RAK is that it offers lower cost structure for business set up and operations”.
Ter-Kazaryan also shared that the availability of logistical hubs in the emirate is an added factor that led to the decision. “For distributors like us, it is important to have different routes to supply to our markets,” she explained, “RAK has several seaports, an international airport as well as multilane superhighways, all of which are providing ease of transporting goods in and out of the country”.
G&N Enterprise based its headquarters in the emirate’s first free zone because according to Ter-Kazaryan, they opted for an investment partner that can help them grow. “Since our inception at RAK FTZ, we experienced no roadblocks and have made remarkable profits,” she said. “I believe many other companies registered at RAK FTZ would agree with me when I say that the free zone’s staff are very reliable and professional to deal with. You can just get in touch with them whenever you need something and you can feel their enthusiasm to assist”.
Since Ras Al Khaimah is a flourishing emirate with major infrastructure developments in the pipeline, G&N Enterprise sees the possibility of expanding to also serve the local market. “It’s definitely something that we consider,” she said, “let us see in the future, perhaps, if the business continuously goes well, then we will look into also supplying RAK with our products, or even the markets beyond. Sooner or later, we have to fully utilise our strategic positioning to also cater to markets across the Middle East, Africa and even Asia”.