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Dubai's Majid Al Futtaim posts 7% drop in 2020 revenue due to COVID-19 impact


Dubai: Dubai-based mall operator Majid Al Futtaim said its 2020 revenue fell 7 per cent year-over-year to Dh32.6 billion due to the impact of the COVID-19 pandemic. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA), declined by 19 per cent to Dh3.8 billion in the same period.
“Despite the extraordinary events of 2020, Majid Al Futtaim’s full year performance demonstrated the resilience of our people and business model, diverse portfolio, operational agility, proactive investments and prudent financial risk management,” said Alain Bejjani, Majid Al Futtaim’s Chief Executive Officer, in a statement on Wednesday.
The pandemic resulted in business interruptions, such as temporary asset closures, travel and movement restrictions, and supply chain challenges, and when combined with more cautious consumer sentiment, resulted in varying degrees of impact across the company, the company said. ....

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Dubai: First Impressions Count


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The Atlantis Hotel, Palm Jumeirah, Dubai ©Anna Kingsley
12,000 Israelis (although some sources have stated as many as 66,000) travelled to Dubai in December 2020 alone. With this in mind, I thought I’d write a guide in English for those visiting to give them some tips on what to do and what to expect. ....

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