Posted by Bob Brunskill
B6 Group, a leading food and beverage company in the UAE, has announced a budget of AED 50 million for expansion projects in 2011.
The company said such plans came at a time when its staffing had increased by more than 50 per cent to meet the growing demand of the hospitality market in the UAE.
B6 Group also predicted that its revenues will grow by more than 40 per cent in 2011 "due to the large number of contracts that are scheduled to be closed in the first quarter of 2011".
Omar Rashed Al Falasi, who chairs the B6 Catering arm of the company, commended the adaptive strengths of the hospitality industry in Dubai and claimed that high quality and specialised foods are in particularly high demand in the UAE at present.
"The GCC is the biggest importer of food in the world with more than 90 percent of food items brought into the region," he said. "The UAE is regarded a key growth market by the global food and beverage industry despite its small population, however being a re-export centre of the region gives it an edge to be one of the largest importers of food and beverages."
According to recent predictions by Business Monitor International, food expenditure in the UAE expanded by 2.67 per cent in 2010 to reach $6.96 billion.