The 6.9km stretch that normally takes 4 minutes to cross, is now taking motorists on the route up to 35 minutes
uae2 hours ago
Toshiba Elevator and Building Systems Corporation expects to execute projects worth over Dh300 million in 2010-2011 in Dubai and Abu Dhabi. Several more projects are in the bidding process, it added. Company’s order book for 2010-2011, led by new Abu Dhabi contracts, indicates accelerating recovery in UAE’s property sector.
Addressing a press conference in Dubai, Kimura, who is on a maiden visit to the Middle East, said the UAE has demonstrated strong signs of recovery, as reflected in new contracts won by Toshiba Elevators.
“Toshiba Elevators has been active in the UAE for the past five years, and has done quite well, having executed projects worth more than Dh300 million,” Kimura said, adding: “We have tremendous confidence in the UAE. We are sure in less than five years, this place will boom again.”
He outlined the company’s plans to double its turnover in the region in less than five years, driven by expansions in the Gulf and India. Plans are on for opening offices in Saudi Arabia and Qatar with local partners. Kimura revealed that talks were in final stages with a partner in Oman for launching operations there, and an announcement would be made very soon. As for India, talks are going on with large industrial houses for a possible tie-up for bidding for projects.
Abu Dhabi has emerged as the key market for Toshiba. Last year, the company completed projects worth over Dh100 million in Reem Islands’ Marina Square, involving 126 elevators in 13 towers. This year, Toshiba has won a new order worth Dh140 million in Reem Islands’ City of Lights, covering more than 22 towers.
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