|02-04-2015, 02:31 AM||#1|
Iyad Malas steps down as CEO of Dubai`s Majid Al-Futtaim
The Dubai-based shopping malls operator Majid Al-Futtaim revealed that CEO Iyad Malas has stepped down as his leadership recently lacked efficiency and focus for the group interests and profitability.
Al-Futtaim is one of the top shopping malls operators in the Middle East and North Africa, has recently started expanding its Mall of the Emirates.
Mall of the Emirates had more than 23 million visitors in 2006, a number that almost doubled last year to 40 million. With such an expansion and success, this number can definitely rise further.
UAE remains the world`s top destination for tourism and shopping. Moreover, Emirati hotels activity is expected to continue expanding revenues from the uniquely high levels of tourism.
However, Dubai might be losing its ranks as a top expat destination as a result of the surge of prices, but remains one of the biggest sightseeing spots of the world, with almost a 10.6% increase per year of its hotel guests.
Dubai attracts more than 16 million tourists annually, including 11 million hotel guests — a number projected to double or even triple within the coming years.
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