For some UAE businesses, the contracts and long-standing working relationships with European suppliers matter, whatever be the short-term pressures.
“Many of the deals we signed were negotiated prior to the most substantial inflationary impact in Europe,” said Tizian Raab, spokesperson for Dubai-based Azizi Developments. “With us developing 40,000 homes by 2027, we were able to leverage economies of scale too. We have formed direct partnerships with numerous world-renowned suppliers from Germany, Italy and France to source construction materials and fit-outs
“Increases in our procurement costs from Europe are felt, but as a developer, we have decided to absorb them. The quality of their products are worth the effort.”