E-COMMERCE

In 2021, sales of Emaar shopping malls in Dubai grew by 42%.

The owner of retail outlets, including The Dubai Mall and Dubai Marina Mall, recorded sales of 4.9 billion dirhams ($ 1.33 billion) with a net profit of 1.8 billion dirhams last year, an increase of compared to the same period last year by 42 percent and 160 percent respectively. .

In presenting its preliminary results for the full year in Dubai’s financial market, parent company Emaar Malls and Dubai’s largest real estate developer, Emaar Properties, said its shopping center occupancy reached 87 percent in 2021, adding that the business is likely to gain momentum in the short term due to the opening of the Dubai Hills Mall in the first quarter of 2022.

Emaar Malls ’e-commerce platform for fashion and lifestyle, Namshi recorded sales of 1.54 billion dirhams in 2021, with sales growth driven by consumers in Saudi Arabia, Kuwait and Qatar, where the platform was launched early last year.

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https://www.businessoffashion.com/news/global-markets/dubais-emaar-malls-see-sales-rise-42-in-2021/ In 2021, sales of Emaar shopping malls in Dubai grew by 42%.

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