GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Dubai, UAE- 28 April, 2021: Emaar Malls PJSC held its Annual General Meeting (AGM) yesterday evening, on 27 April 2021 and its Board of Directors reflected on the company's achievements despite the challenging market conditions affected by the Covid-19 pandemic on the global economy and the retail industry.

The Board of Directors highlighted Emaar Malls PJSC's efforts to support Dubai Government's fight against Covid-19 with the implementation of Vaccination Hub at The Dubai Mall. They also highlighted Emaar Malls' support to their retail tenants' financial wellbeing and efforts to protect the SME's by providing more than AED 1 billion (US$ 272 million) in rental relief during 2020. The support was further extended until 31 March 2021.

During the AGM, the Directors Report on the primary activities, business overview and financial results, Auditors' Report and Consolidated Financial Statements of the company for the year 2020 were approved. 

Emaar Malls PJSC recorded revenue of AED 3.508 billion (US$ 955 million) in 2020. Overall net profit in 2020 amounted to AED 704 million (US$ 192 million). Namshi, the regional 
e-commerce fashion and lifestyle platform, a wholly owned subsidiary of the company, recorded sales of AED 1.316 billion (US$ 358 million), increased by 28 per cent compared to the previous year. Namshi's strong performance is attributed to its continual growth in Saudi Arabia, increase of 283 brands on the platform and providing customers with the latest trends.

Mohamed Alabbar, Founder and Managing Director of Emaar Properties, said: “Without the phenomenal contribution of our Shareholders and employees in the previous year, Emaar would not be in its robust position that it is today. In one of the most challenging times in decades, together, we have shown incredible adaptability enabling Emaar Malls to continuously deliver the ultimate shopping and entertainment experience for residents and tourists alike. 

“We expect the positive trend to continue in the year ahead as we witness guests returning to our malls and entertainment attractions with optimism. Digital transformation is at the root of our business and we endeavour to intelligently connect and communicate with our customers and shareholders, to support business growth,” Alabbar added.

The AGM went on to underline the company's rigorous measures it took to maintain stability of the business throughout 2020, despite the global pandemic that affected businesses across the world. New digital initiatives were rapidly developed and implemented to ensure optimal efficiency for the malls' operational requirements. Customers were also able to continue to enjoy the very best shopping experience throughout 2020, while maintaining the safety of its guests.



Posted by : GoDubai Editorial Team
Viewed 5650 times
Posted on : Wednesday, April 28, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Dubai Shopping Malls Group Introduces Summer Season Promotion for Dubai Shoppers; 1 Million Worth of...
Next Story : THAT Concept Store Pulls Out all the Stops to Celebrate Ramadan in Style
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Maintain Summer-Long Gorgeous Hair with these Essential Treatments from Sukin
Love Your Skin
King C. Gillette is here to Revolutionize the Male Grooming Experience
My First GROHE: Keep it Simple with GROHE Baulines for the Kitchen
Ojar Launches Its Eau De Parfum Sillage Boosters
Ogilvy PR Names Matt Buchanan as Global Head of Consumer PR
The Famous Taste of ALBAIK is Coming to Dubai with the Launch of the First Branc...
Versus Los Feliz
Compose Your Own Unique Scent Using Ojar's Sillage Boosters
Thought Series – the Good Life
Malabar Gold & Diamonds redomiciles to Dubai International Financial Centre (DIF...
Cebu Pacific Celebrates Philippine Independence Day with Special AED1 Seat Sale ...
5 Lovely Summer Outfit Ideas for 2021
SEHA Prioritizes Women's Health With Revamped State-of-the-art Clinics
Over 200 students at GEMS Wellington Academy – Silicon Oasis ‘Step in Time' with...
Reveal Your Brightest Skin this Summer with Herbal Essentials
Father's Day Favorites: Moroccan Neroli Shaving Serum & Post Shave Lotion
Tanishq Reiterates Promises and Commitment to Regional Customers
Own a Brand-New Renault from Arabian Automobiles from only AED 555 per month
Dubai Sports Council Organises Workshop for Dubai Club Administrators and Supervisors
Business Aviation at Dubai Airshow 2021: A Thriving Industry Despite the Challenges
Abu Dhabi World Professional Jiu-jitsu Championship (Adwpjjc) Returns in Novembe...
Emirates Literature Foundation Search Is on for Young Writers
Ulissi Takes Emotional Victory in Slovenia
MoHAP Continues to provide Inspection of Private Medical and Pharmaceutical Faci...
Jaguar Land Rover to Develop Hydrogen-Powered Defender Fuel Cell Prototype
Hamdan Bin Mohamed Bin Zayed Inaugurates Largest Fitness Centre in Abu Dhabi
First Aid - Wounds and Burns Workshop Hosted by Flamigel®
SEHA Advances Medical Education, Training, and Development With UAE's First ASHP...
Mahzooz makes its 10th millionaire of 2021
Adidas Launches the Latest Adizero Footwear, Evolving Fast for the Road and the Track
Ariel PODS Launches Mind, Pody & Soul at Alserkal Avenue in Dubai
MBRU Launches First Doctorate Program in Dubai to Drive Support of Biomedical Sc...
MRO Middle East Demonstrates Positive Outlook for Aviation Sector Recovery in th...
Kia Takes Six Prizes at the 2021 Russian Car of the Year Awards
Flydubai and Alhosn Partner to make Travel more Convenient
Zayed University Partners With Education Innovator Minerva Project to Launch the...
International Medical Center Announces the Project Kick-off of its Unified Elect...
Mubadala Health Acquires a Controlling Stake in UEMedical
Porsche goes the Extreme to Kick off Launch for new Taycan Cross Turismo
The Department of Culture and Tourism – Abu Dhabi Announces Updated List of “Gre...
New Collaborative Effort to Prepare Emirati Youth for Higher Education Studies i...
Abu Dhabi University participates in Hassantuk for commercial buildings in colla...
How the Galaxy S21's AI Improves Your Photos in the Blink of an Eye
Ferrari Appoints Benedetto Vigna as Chief Executive Officer
INFINITI Q60: All-Round Vehicular Innovation
Free Burgers for Dad at Gourmet Burger Kitchen This Father's Day
ENEC Achieves Latest Nuclear New Build Benchmark with 100 Million Safe Work Hour...
How Sustainability is Front and Center at THAT Concept Store
National Ambulance provides Emergency Medical Services at Abu Dhabi Airports