Fortis said its Dubai offices will be used as a regional headquarters as it aims to build on its presence in the United Arab Emirates (UAE) and other countries around the Gulf.
The Swiss company plans to officially open its offices at the Dubai Gold and Diamond Park on December 2nd 2011, which will mark exactly 40 years since it first started doing business in the UAE.
“Over the last 40 years, the Fortis brand equity in the regional market has risen exponentially driven by its reputation as a watchmaker of innovation, precision and makers of rugged all-clime timepieces,” said Mahesh Shahani, brand director for Fortis in the Middle East.
“Our current and new strategy will be to move more closely and intimately to the market and customers and build on the Fortis image to grow sales. In this context, the opening of the Fortis regional HQ will bring an unprecedented advantage.”
As well as marking 40 years in the UAE in 2011, Fortis is gearing up to celebrate the 100th anniversary of its founding in 2012.
The Swiss business counts Middle-Eastern countries like the UAE and Saudi Arabia among its key markets in light of their growing appetite for luxury timepieces. Dubai alone reportedly imports close to a million foreign-made watches on an annual basis.
Prices on office space to rent in Dubai have faced significant downward pressure in recent years after demand was dampened in the wake of the global economic crisis. Supply of high-quality offices continues to arrive on the local market with highly competitive deals to be had.
Editor’s notes: As of May 2024, Fortis had neither an office space nor retail presence in Dubai.
Post-pandemic, several office locations in Dubai showed signs of recovery – office rental levels had increased year-on-year in most districts.