Regal Global Trading to set-up Dubai factory and send medical supplies to affected countries to ease the shortage brought on by the outbreak of COVID-19
Dubai, March 8th, 2020: In an attempt to address the growing shortage of medical supplies being faced by countries hit by the Coronavirus outbreak, Mr. Khurram Shroff, Chairman of the IBC Group, headquartered in the United Arab Emirates, today announced that Regal Global Trading, a local company backed by the IBC Group, will diversify its trading portfolio to include healthcare products. The company will set-up a Dubai factory to manufacture affordable masks and medical kits, which will then be shipped to affected countries around the world. The coronavirus outbreak, which originated in Wuhan, China, is reported to have now spread to at least 65 countries, leading to over 3,000 fatalities and more than 100,000 infected individuals.
“One of the biggest challenges the outbreak presents is that people are contracting the disease at a rapid rate, overwhelming healthcare services. We need to contribute to help stem what could very well turn out to be a pandemic We are making an attempt to help manage the growing global shortage of medical supplies by supplying affordable masks and medical kits. In fact, even for the local market, we have kept our pricing very low, at AED30 for 50 masks, to ensure it is affordable and can genuinely support the requirements” said Mr. Shroff.
He also informed that a factory was being set up in Dubai to produce and ship hundreds of thousands of masks and protective gear on a daily basis. “We are setting up a factory in Dubai and we plan to increase our capacity to 300,000 and double it every month moving forward, depending on the severity and spread of the epidemic. This daily production of 300,000 to 600,000 will be primarily supplied to China, where there is a demand of one billion masks, per day. There are also issues with availability of testing equipment, so we are sending medical testing kits and equipment to as many cities around the world as possible.” He further added that Regal Global Trading was “working with the Government of China and several other governments to supply protective gear” to regions that are experiencing an acute shortage of such supplies.
Regal Global Trading has an established presence in the global trade of a diverse product portfolio from the UAE – including textiles, building materials, heavy equipment, machinery, FMCG, and beauty products. However, given the challenge presented by a possible global pandemic, the company has decided to leverage its established market reach and business network, as part of the response to this emerging crisis. “Regal Global Trading operates across the world in 78 countries. That gives us access to some of the most strategic ports and the wherewithal to reach affected countries quickly, to supply them with the medical kits, preventative equipment, disinfectants and other protective gear that is urgently required,” said Mr. Shroff.
The highly contagious virus (SARS-CoV-2) has now spread to several countries other than China, including South Korea, Italy, Iran, Japan, the Middle East, Malaysia, Singapore, Thailand, the Philippines, India, United States of America, and the United Kingdom.
About IBC Group & Gallery Suites
IBC Group Limited is a Substantial Investment Company based in the UAE since 2014, with a focus on private equity investment in Real Estate, Art and Proptech. Gallery Suites Vacation Rentals LLC is a subsidiary of the IBC Group Limited, a Substantial Investment Company based in the UAE since 2014, with a focus on private equity investment in Real Estate, Art and Proptech. Gallery Suites already has a substantial presence in Dubai and has over 200 properties in JLT, JBR, Palm Jumeirah and Dubai Marina. www.thegallerysuites.com
About Regal Global Trading
Regal Global Trading, a subsidiary of the IBC Group, has built a network of branches and affiliates across 78 countries. The company trades globally across diverse sectors, which includes building materials, textile, machinery, heavy equipment, FMCG, beauty products and more. A global trading giant with access to most strategic ports around the world, Regal Global Trading has earned a sterling reputation for its ethical trading practices and social impact vision. www.regalglobaltrading.com
About Khurram Shroff
Khurram is an award winning global banking and finance leader, also featured in the prestigious list of the “Top100 Most Powerful and Influential Muslims in Great Britain and the World” by Power100. He is the Chairman of IBC Group, which is a substantial Global Real Estate and Tech investment company based in the UAE, as well as Chairman of Gallery Suites, which focuses on inspirational living with bespoke art collections in holiday home properties across the UAE.