Following years of strategic market development in the Arabian Gulf, a number of Western Australian companies in the building and construction sector are preparing to capitalise on their groundwork in one of the world’s fastest-growing markets.
The construction sector in the Arabian Gulf is worth an estimated $1 trillion, according to Master Builders Australia, which is hosting a series of trade exhibitions in Dubai this year.
According to Keith Stubbs, national manager of the MBA’s international division, Australia has the ability to compete with European suppliers to the region.
“Australia has built a rather enviable reputation as an innovative sector, without a lot of the baggage associated with traditional suppliers,” he said.
“The reason our companies are being successful is they have a competitive advantage in terms of product and service.”
Mr Stubbs said WA-based companies had an advantage over their competitors on the eastern seaboard, offering a cheaper and faster supply chain due to closer proximity to the Gulf.
Several WA companies already exporting to the region are looking to grow their business this year.
Bellevue-based Pioneer Water Tanks aims to double its exports to the Middle East, which currently make up about 20 per cent of total exports.
The company’s international sales manager, Isaak Dury, said the market was expected to strengthen considerably, following a five-year plateau.
“We anticipate that it will grow by 100 per cent this financial year, even more so over the next few years,” he said.
While Pioneer already has a strong market in Dubai, Mr Dury said exports to Oman and Saudi Arabia were also expected to grow.
The company, which exports water tanks for commercial applications, is currently in negotiations to supply Dubai’s Palm Islands projects, as well as a number of other large building projects.
Balcatta-based solar thermal products company, Conergy Pty Ltd, is also establishing a foothold in the Middle East.
Conergy managing director Rodger Meads said while the market for renewable energy products was still emerging, the demand in places such as Dubai and Saudi Arabia was increasing.
‘‘Over the last few years in particular, the Gulf region has really grown,’’ he said. ‘‘There is an understanding that a low carbon footprint is important.’’
Mr Meads said although Conergy’s current market was mainly domestic villas and sub-divisions, the company had recently committed to some larger commercial projects.
