Company Insights Lulu Group Retail Lulu Group News Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024 Retail Cenomi Centers’ growth reflects Saudi retail potential Saudi Arabia’s largest operator of shopping malls has reported record footfall, which drove a 49 percent jump in net profit last year. The number of visitors to Cenomi Centers malls rose by 19 percent to 124 million in 2023, smashing the previous pre-Covid record of 114 million in 2019. The company delivered SAR2.3 billion ($613 […] March 26, 2024 Retail UAE’s Lulu selects banks for potential $2bn IPO UAE’s retail conglomerate LuLu Group International has appointed local and international banks to lead its proposed $2 billion initial public offering (IPO), according to a media report. The company, which is among the largest hypermarket chain operators in the Middle East, has selected Abu Dhabi Commercial Bank, Citigroup, Emirates NBD Capital and HSBC Holdings to […] March 22, 2024 Analysis Markets Saudi Arabia and UAE to dominate Mena IPOs in 2024 Nearly 30 companies in the Middle East and North Africa plan to launch initial public offerings this year, despite mixed share price performance from many regional businesses that went public last year, a report has found. Businesses from Saudi Arabia and the UAE will again dominate Mena IPOs in 2024, according to the report by […] February 6, 2024 Exclusive Retail Dubai is building bricks-and-mortar appeal, says Jumbo CEO Dubai will remain a stronghold for bricks-and-mortar shopping despite the increased competition from online retailers, according to the chief executive officer of the UAE conglomerate Jumbo Group. “The city’s unique market dynamics, such as demand for luxurious goods, coupled with a significant tourist influx contribute to the continued relevance of physical stores,” Vikas Chadha told […] January 18, 2024 Opinion People & Lifestyle The world is moving to Saudi Arabia The kingdom could supplant the UAE as the GCC destination of choice for both tourists and migrants January 16, 2024 Retail UAE’s LuLu to build India’s largest shopping mall for $483m The UAE retail conglomerate LuLu Group is to develop India’s largest shopping mall, in Ahmedabad, Gujarat, for an estimated cost of 40 billion rupees ($482.67 million). The construction for the proposed shopping mall will start this year, Asian News International (ANI) news agency reported, quoting comments by Yusuff Ali MA, chairman and managing director of […] January 14, 2024 Retail Retailers point up savings as Dubai bans plastic bags Supermarket operators have told AGBI that Dubai’s ban on single-use plastic bags is an opportunity to cut costs – and pass on savings to customers. The emirate’s prohibition on the import, production and circulation of single-use plastic shopping bags came into force on January 1, in an attempt to reduce waste and pollution. The Gulf […] January 10, 2024 Analysis Tech For Gulf businesses, chatbots are a difficult conversation In an era in which chatbots are on the rise, attempting to reach customer support often proves to be a frustrating experience in the Gulf. My recent encounter with a prominent UAE bank highlighted this reality, as the default option of AI chatbots – a computer programme that allows humans to interact (by voice or […] January 8, 2024 Leisure & Hospitality Retailers wear the cost of sustainable process in UAE Retailers in the UAE are shouldering the financial burden of adopting sustainable practices to stay competitive, but policy reforms are needed to back their long-term environmental goals, an executive of the Gulf’s largest clothing company has said. Gaps in existing regulations include a lack of sufficient incentives, tax breaks and a comprehensive framework to enable […] December 15, 2023 Posts navigation Previous 1 2 3 4 5 Next
Retail Spinneys to offer 900m shares in Dubai IPO Supermarket operator Spinneys will sell 25 percent of its business in an initial public offering (IPO) on the Dubai Financial Market (DFM), according to an intention to float document released on Tuesday. The company’s offering will be open from April 23 to April 29 for retail investors, while institutional investors can subscribe until April 30, according […] April 16, 2024
Retail Cenomi Centers’ growth reflects Saudi retail potential Saudi Arabia’s largest operator of shopping malls has reported record footfall, which drove a 49 percent jump in net profit last year. The number of visitors to Cenomi Centers malls rose by 19 percent to 124 million in 2023, smashing the previous pre-Covid record of 114 million in 2019. The company delivered SAR2.3 billion ($613 […] March 26, 2024
Retail UAE’s Lulu selects banks for potential $2bn IPO UAE’s retail conglomerate LuLu Group International has appointed local and international banks to lead its proposed $2 billion initial public offering (IPO), according to a media report. The company, which is among the largest hypermarket chain operators in the Middle East, has selected Abu Dhabi Commercial Bank, Citigroup, Emirates NBD Capital and HSBC Holdings to […] March 22, 2024
Analysis Markets Saudi Arabia and UAE to dominate Mena IPOs in 2024 Nearly 30 companies in the Middle East and North Africa plan to launch initial public offerings this year, despite mixed share price performance from many regional businesses that went public last year, a report has found. Businesses from Saudi Arabia and the UAE will again dominate Mena IPOs in 2024, according to the report by […] February 6, 2024
Exclusive Retail Dubai is building bricks-and-mortar appeal, says Jumbo CEO Dubai will remain a stronghold for bricks-and-mortar shopping despite the increased competition from online retailers, according to the chief executive officer of the UAE conglomerate Jumbo Group. “The city’s unique market dynamics, such as demand for luxurious goods, coupled with a significant tourist influx contribute to the continued relevance of physical stores,” Vikas Chadha told […] January 18, 2024
Opinion People & Lifestyle The world is moving to Saudi Arabia The kingdom could supplant the UAE as the GCC destination of choice for both tourists and migrants January 16, 2024
Retail UAE’s LuLu to build India’s largest shopping mall for $483m The UAE retail conglomerate LuLu Group is to develop India’s largest shopping mall, in Ahmedabad, Gujarat, for an estimated cost of 40 billion rupees ($482.67 million). The construction for the proposed shopping mall will start this year, Asian News International (ANI) news agency reported, quoting comments by Yusuff Ali MA, chairman and managing director of […] January 14, 2024
Retail Retailers point up savings as Dubai bans plastic bags Supermarket operators have told AGBI that Dubai’s ban on single-use plastic bags is an opportunity to cut costs – and pass on savings to customers. The emirate’s prohibition on the import, production and circulation of single-use plastic shopping bags came into force on January 1, in an attempt to reduce waste and pollution. The Gulf […] January 10, 2024
Analysis Tech For Gulf businesses, chatbots are a difficult conversation In an era in which chatbots are on the rise, attempting to reach customer support often proves to be a frustrating experience in the Gulf. My recent encounter with a prominent UAE bank highlighted this reality, as the default option of AI chatbots – a computer programme that allows humans to interact (by voice or […] January 8, 2024
Leisure & Hospitality Retailers wear the cost of sustainable process in UAE Retailers in the UAE are shouldering the financial burden of adopting sustainable practices to stay competitive, but policy reforms are needed to back their long-term environmental goals, an executive of the Gulf’s largest clothing company has said. Gaps in existing regulations include a lack of sufficient incentives, tax breaks and a comprehensive framework to enable […] December 15, 2023
