The HVAC market in the United Arab Emirates has been stagnant for the past one-and-a-half years and is likely to be the same in 2019, asserted Jithender Malhotra, Channel and Distribution Manager, GAMI, while giving an overview of the HVAC market in the Middle East. Pointing to cash flow as a huge issue, he highlighted how GAMI is dealing with the situation. “We have changed the payment terms and even have a credit period, considering the market conditions,” he said.
Elaborating, he pointed to an influx of Chinese products in the market and said: “Another category is of copied products, as they have a huge market here, which is disturbing the local market in the United Arab Emirates. In addition, we have faced a lot of issues with spurious product filter dryers that were reported and the shops were then raided.” Ravi Wadhwani, Managing Director, Hira Walraven AC Industry, echoed Malhotra and said, “Cash flow is always a challenge for the construction industry in our region and as a veteran player, we ensure that we continue to invest so that our operations remain immune from these factors.”