UAE-based Danube Properties is set to open its new sales office in Saudi Arabia this month, to meet the growing demand from Saudi investors who are keen to buy its properties in Dubai, said a senior official.

Danube, which has been operating in the Saudi market for the last five years, said this is its second overseas sales office after India, where the company opened its first office last month.

During this period, the company invested Dh300 million ($82 million) into the Saudi market for establishing five building materials stores and a retail store.

On the Saudi move, Rizwan Sajan, the founder and group chairman, said: "In the past few years, we have seen a large influx of Saudi tourists to Dubai. According to the Department of Tourism in Dubai, 295,000 Saudi tourists visited the emirate during January and February this year while 223,000 tourists flew in from Oman to Dubai registering a 35 per cent growth."

Sajan said the company was also planning to open new outlets in Oman and Qatar over the next two years as part of its GCC expansion strategy.

He stated, the UAE was the group's headquarters and the heart of its global operations. "To strengthen our business here, we will be opening two new retail stores this year."

"Besides the UAE market, we have a strong presence in Oman through our retail stores and we intend to launch two new stores this year, and two more early next year, thus taking the total number in Oman to five," he added.

The new ones will be opened in the cities of Mabela, Nizwa, Sohar and Salalah.

Sajan said the company had made its foray into Qatar years ago with the opening of two building materials stores and now plans to open its first retail store in the country early next year.

In Bahrain, the official said that Danube has established a building materials store as well as a retail store at a total investment of about Dh200 million ($54 million).

On the real estate sector in Dubai, Sajan said its properties portfolio in Dubai had reached Dh1.8 billion ($489 million) with the group having launched its sixth real estate project.

"Dubai is the best investment destination in the world, thanks to the government’s vision to create attractive environment for investors," he remarked.

"The political stability and security in Dubai and UAE in general, has stimulated investments by providing investors with global infrastructure. It also provides a unique opportunity for companies to expand their businesses in the region and worldwide.-TradeArabia News Service