(MENAFN) Majid Al Futtaim Holding plans to invest Dh3 billion into expanding its retail and hospitality business in Dubai over the next five years.
The retailer, which holds the regional franchise of the French supermarket chain Carrefour as well a series of malls and hotels, wants to build two further hotels, a mall, six supermarkets, and a cinema complex. It also plans to spend close to Dh1bn on enlarging its flagship Mall of the Emirates, and is already refurbishing two of its existing hotels.
The company believes that the investment is justified by Dubai's economic outlook and the potential of a successful Expo 2020 bid.
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