DANUBE Building Materials expects its revenues to grow to between Dh2.5 and Dh3 billion ($680 million to $816 million) in the next three to four years as the market recovers and prices normalise.

The company is also looking at an initial public offering (IPO) listing in Saudi Arabia or the UAE within the next five years. The decision to go public has been driven by the significant growth it has witnessed in the recent years, which peaked in 2009 when its annual turnover hit  Dh1 billion ($272 million) despite the challenges presented by the financial crisis.

The company further revealed that it is also open to dual listing in both countries.

Danube aims to tap the growing UAE construction industry, which is expected to witness a compound annual growth rate (CAGR) of around 20 per cent from 2010 to 2013, according to the ‘UAE Construction Industry Outlook for 2012’ report by industry intelligence provider RNCOS.