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Mapei is considering a number of options amid its expansion plans in Saudi Arabia, its recently appointed managing director has said.
Stefano Iannacone, appointed on 1 June, said the country's size and growth potential makes it attractive for expanding the company's sales of construction-related chemical products.
"We're looking at different options, whether that involves a representative office or in the future a manufacturing facility in the country,' he said.
Its expansion overall is likely to be funded by either the regional operation's turnover or that of the parent company in Italy, though didn't rule out debt raising by the parent as it seeks to enhance its market share globally.
The company is one of the dominant suppliers in the region in its field, specialising in of admixtures, adhesives, sealants along with waterproofing systems, and has its main regional manufacturing base in Dubai Investments Park.
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Iannacone added that Mapei's product range allows it to supply to buildings throughout the construction process, and as the UAE building market shifts from property to infrastructure, the company can also compete in this area. It was one of the main suppliers to the construction of Dubai Metro and also supplied products for the sewerage tunnelling work in Abu Dhabi.
A recently completed project in the residential sector, however, is the Al Zeina development inn Al Raha Beach, developed by client Aldar properties. The company was able to supply the full requirement of tile adhesives to Deemah Stone, the Australian firm providing the porcelain for the 1,295 units. The first phase of the project was handed over earlier this year.
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