On Friday, a new community mall was inaugurated at Damac Hills 1 by property developer Damac Group, which also announced plans to construct approximately six additional shopping centres across the UAE. In an interview with Khaleej Times, Hussain Sajwani, founder and chairman of Damac, stated that the company would concentrate on community malls and avoid competing with larger ones. The second mall, spanning 110,000sqft, offers retail, hospitality, leisure, and entertainment options, and features international and local brands across various categories, including 30 retail stores and 10 F&B outlets
Month: September 2023
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Mohammed bin Rashid’s second children’s book launched on board the International Space Station
The Government of Dubai Media Office (GDMO) is pleased to announce the launch of the second children's book authored by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Titled 'The Journey From the Desert to the Stars', the launch took place aboard the International Space Station (ISS), a fitting stage that echoes a recurrent theme in the book - the UAE's journey from modest beginnings to stellar heights. Emirati astronaut Sultan Al Neyadi marked the occasion by reading select passages from the book.
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GCC Asset Management Market Poised to Reach $500 Billion by 2026 on Strong Oil Prices and Capital Inflows
According to a study, the asset management market in the GCC is expected to surpass global growth rates and reach nearly $500 billion in onshore assets by 2026, marking a significant increase from $400 billion at the end of 2022. Wealth management experts at Strategy& Middle East, a part of the PwC network, believe that the GCC asset management industry possesses robust growth potential, driven by favorable oil prices, substantial trade surpluses, and strong capital inflows, despite the complexities of the global market.