Marka PJSC, a Dubai-listed company focused on the retail and hospitality sectors, announced that it has acquired the restaurant chain Reem Al Bawadi in a deal valued at approximately AED 315 million.
The Gulf Cooperation Council countries dominate a new luxury spenders index created exclusively for The Wealth Report.
Emaar’s Dubai Mall has retained its title as the world’s most-visited lifestyle destination, welcoming over 80 million visitors in 2014.
Majid Al Futtaim Holding, the Dubai-based shopping malls operator, has appointed Alain Bejjani as CEO, replacing Iyad Malas, who will step down with immediate effect.
Majid Al Futtaim Holding has announced the appointment of Michael Cesarz as CEO of its Shopping Malls Business unit.
Marka, a retailing and restaurants start-up, has agreed to buy Retailcorp UAE LLC, a subsidiary of Istithmar (a Dubai World company), for AED 220 million.
Marka is listing 55% of its capital in an offer that was 36 times oversubscribed, attracting AED 10.35 billion worth of applications.
Peel joins Marka from the leading European developer and manager of designer outlets, McArthur Glen, where he held the position of UK Country Manager, with responsibility for a turnover in excess of £600 million and more than 200 brands.