Master developer Nakheel today awarded a construction contract to build Deira Mall – Dubai’s biggest shopping, dining and entertainment destination in terms of retail space – with a total investment of AED6.1 billion. Nakheel has appointed United Engineering Construction LLC to build the mall, under a contract valued at AED4.2 billion. Construction will begin in […]
Dubai Duty Free sales fall slightly to $1.8bn in 2016
Dubai Duty Free has announced annual sales of AED6.6 billion ($1.8 billion) for 2016, registering a total of 27.1 million sales transactions. The figure represented a marginal fall compared to 2015 when sales totalled AED6.8 billion, which itself was slightly down on the previous year. The airport retailer said in a statement that it averaged […]
Amazon agrees to buy Middle East online retailer Souq.com
Amazon.com Inc has agreed in principle to buy 100 percent of Dubai-based online retailer Souq.com from its shareholders, sources familiar with the deal told Reuters on Wednesday. Amazon declined to comment and a spokesperson for Souq.com did not immediately respond to a request for comment. Goldman Sachs acted as adviser for Souq.com and helped to […]
