Majid Al Futtaim Holding LLC, the operator of malls and hotels in the Middle East, expects retail sales to rise between 15 to 20 percent this year as more visitors shop in Dubai.
Sales at malls operated by the company, including one with an indoor ski slope, returned to levels last seen in 2008 in the first quarter, as shoppers from the Gulf, mainly Saudi Arabia, Russia and Europe traveled to the emirate, Peter Walichnowski, Chief Executive Officer Majid Al Futtaim Properties, said in a phone interview today.
Dubai’s international airport, home to the world’s largest airline by international traffic Emirates, saw passenger traffic grow 19 percent in February from a year ago to 4.56 million, it said March 27. The emirate, which has the Middle East’s largest mall and the world’s tallest skyscraper, received 9.3 million tourists last year, up 10 percent from 2010, its tourism department said March 7.
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