GCC, which is led by Saudi Arabia as well as UAE will experience an accelerated growth rate in the next few years. This is consistent with the IMF’s and World Bank’s expectations. The strong recovery of this sector is being fueled by large investments made in the Construction industry by Saudi Arabia and UAE. The government of Saudi Arabia is leading the construction drive. Vision 2030, which aims to increase homeownership to 70% by 2030, inspires it. With the announcement of landmark projects, UAE is seeing improvements in this sector.
Alberto Torner is the Head of Ariston Thermo Group Middle East, Turkey, and Caucasus. He said, “We are happy to see reactivation on Construction and Hospitality, as these will positively impact the water heater business over the coming years.” Large property developers have started to consider alternative options such as heat pumps and solar energy because of our position as a global market leader. We also place a strong emphasis on sustainability. Service engineers at our company highlight the benefits of our solutions in terms of power savings and emissions reductions and can increase demand.
Ariston’s energy-saving water heating solutions are welcomed by the hospitality industry around the globe. This is also true for our region. Our customers in this sector appreciate the dual benefits of energy savings and environmental consciousness.
Ariston’s 2022 milestone is significant as Ariston’s stated sustainability goals will be achieved this year. These goals included generating 80% revenue through efficient and renewable solutions and reducing 3 million tons of CO2 by using the company’s advanced technologies. Already at year-end 2021, 74% of revenue was generated by sustainable solutions and CO2 savings exceeded 2 million tons.
The Ariston Group places energy efficiency at the core of its sustainable growth strategy. Alberto Torner emphasized that renewable, high-efficiency products can be a significant contribution to achieving the environmental goals of the building sector and reducing energy consumption without sacrificing comfort. These concerns weren’t as common when Ariston ME was founded in the region over 40 years ago, but they are now recognized and we are proud that we are as relevant to our customers today as we were back then.