Dubai: The Home has launched it’s first-ever hyper store in the UAE at an exclusive function in Dubai, with an investment of Dh65 million.
The new brand will help reduce imports and boost the US$17.7 billion (Dh65 billion) interiors and home furnishing market in the GCC, that is mostly thriving on imported goods. The Home manufactures more than 40 per cent of its bedding and sofa products in the UAE, thus reduces import dependency of the Gulf countries.
According to Ventures Onsite – a research organization – the value of interior-based design and fit-out spend has risen from US$15.5 billion (Dh55 billion) in 2016 to US$17.7 billion this year, with the steep rise attributed to near-constant innovation and what experts describe as “ever-changing personal preferences”.
The UAE’s home furnishing and interiors sector is poised for a massive growth due to the delivery of 55,000 new homes in 2017-18, as well as the delivery of 40,000 new hotel rooms in Dubai to boost the hotel inventory to 140,000 rooms and serviced apartments ahead of the Expo 2020.
Besides, the bulk of the Dh3 trillion worth of construction projects that will be completed by 2020, will increase the interiors product demand. The Home will help the country to meet the rising demand.
This hyper store of the home-grown brand located on Umm Suqeim Road occupies an area of over 100,000 square feet spread out over an innovative layout of three levels. The new brand was launched by His Highness Sheikh Dr. Majid Saeed Rashed Al Nuaimi, Member of Ruling Family of Ajman, Mr. Sugathan Janardhanan, Chairman and Managing Director, Royal Furniture and Mr. Sulin Sugathan, Director, Royal Group.
The new UAE’s home-grown brand produces 40 per cent of the bedding mattresses and sofa sets in its factory in the UAE – that helps reduce the country’s dependence on foreign imported products.
The company offers 30 per cent discount on all products for a week, to help customers visit, plan and purchase their household items at their convenience. This will also help them save on the 5 per cent value-added tax (VAT) that will be effective from January 1, 2018.
‘The Home’ will serve as a one-stop-solution for bespoke and specially crafted furniture which will become paradise for the modern homemaker. The new store seeks to give its customers a brand new furniture & home accessories experience, as well as novel ideas and displays to match the distinct lifestyle requirements of the Middle East. Customers will be able to pick curated pieces from across the world for their living spaces, dining rooms, bedrooms and more, all in one place; to create a truly beautiful and harmonious home.
Mr. Sulin Sugathan, Director, Royal Group said, “It is with great pleasure that we announce the launch of our new brand- ‘The Home’ in this region. It is a brand that will be the ultimate destination for modern and contemporary furniture specially curated for the Middle Eastern cosmopolitan tastes and preferences. Customers can also benefit from additional offerings which we have tried to integrate in to this concept store.”
With various levels mirroring actual living spaces, the store not only hosts a wide assortment of home furniture and accessories, but also has a great environment which is designed to be hassle-free and make you feel completely at home.
Mr. Sugathan Janardhanan, Chairman and Managing Director, Royal Furniture said, “We are proud to take our expertise in furniture and furnishings to the next level and expand our ventures in this region with the launch of ‘The Home’. Our vision is to introduce many more stand-alone stores in this region by 2020 and continue to offer on-trend, custom-made and branded furniture.”