(MENAFN) Pre-tax profit of UAE shopping mall, retail and leisure company Majid Al Futtaim (MAF) saw 11 percent rise, reaching USD898 million in 2013, according to Arabian Business
The company could make the profit from improved profitability in the company"s shopping malls and hotels
UAE-based Majid Al Futtaim posted 3 percent rise in retail business on higher rents from malls and improved hotels RevPAR
In 2013, MAF has launched Beirut City Centre, Majid Al Futtaim"s first shopping mall in the Levant region, as well as a new hotel in Bahrain, eight new Carrefour hypermarkets and 10 supermarkets, four cinema sites, and a number of other projects
Majid Al Futtaim has purchased 25 percent stake owned by Carrefour S.A. in Majid Al Futtaim Hypermarkets LLC for USD694 million
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.