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Toshiba Elevators Say UAE is Showing Strong Signs of Recovery

UAE : 28 March 2010

It has just been announced by Toshiba Elevator and Building Systems Corporation that the UAE is demonstrating signs of good economic growth which is leading towards a recovery.

Mr. Shunichi Kimura who is the CEO for the company addressed a press conference in Dubai yesterday and stated that Toshiba Elevators has just announced details of projects for the UAE which will be worth over Dhs300m in the next two years. He also stated that there are several more potential projects in the pipeline.

It now appears that Abu Dhabi is emerging as a main market for Toshiba Elevators, last year alone the company completed projects in Abu Dhabi that cost more than Dhs100m. This included a project to construct and complete 126 elevators in 13 towers in Reems Islands’ Marina Square. Following on from this successful project in 2010 they are planning to construct 22 towers in the City of Lights in Reems’ Island which is believed to be worth Dhs140m to the region.

It has now been five years since Toshiba Elevators first began completing projects in the UAE and in this time they have received in the region of Dhs300m. Mr Kimura also said that he has the greatest belief that the economy will be back on top in less than five years and he also has the greatest of confidence in the UAE’s leaders who he believes have already transformed the country beyond all recognition.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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