MAF posts 14% increase in H1 revenue
UAE-based Majid Al Futtaim (MAF), which owns Mall of the Emirates in Dubai, has posted a 14% increase in its first-half revenue, as it expands its business at home and into other Middle East countries such as Egypt and Oman, The National has reported. Revenues climbed to Dhs12.8bn in the first six months of 2014, while earnings before interest, taxes, depreciation and amortisation rose 12% to Dhs1.8bn, MAF said. The company said it was expanding Mall of the Emirates in a Dhs900m project, which will involve the mall expanding by 25,000 sq m and house a new Vox Cinema complex. During the first half, the company opened 17 new cinema screens at City Centre Muscat and City Centre Qurum in Oman, it said.