Local audio and video products retailer Dubai Audio is looking to expand in Saudi Arabia and Qatar this year.
“We are working with the partners we represent to look at opportunities in the region to expand our presence and distribution channel. We have already started working in Saudi Arabia, it is extremely large so there is a lot of room to grow,” says Amir Anwar, founder of Dubai Audio.
The company, established in 1994, will also launch its operations in Qatar within the next four to five months. The expansion will be funded internally and as yet there are no plans to launch an initial public offering (IPO).
“Our concentration is in the UAE and Lebanon and we are currently working on Saudi Arabia. In terms of the Arab Spring, we navigated our way out of it and so we haven’t really been impacted. We have a lot of plans and projections with certain brands. If any of those opportunities turn out, we’ll have a very good year,” says Anwar.
According to a study by Dubai Chamber of Commerce and Industry the UAE’s audio video market is expected to experience a cumulative annual growth rate of six per cent from 2011 and 2015 to $1.6bn.