New firm to focus solely on Dubai’s retail sector

August 10th, 2008 - 6:22 pm ICT by IANS  

Dubai, Aug 10 (IANS) The government-owned Dubai Holding Sunday announced the launch of operations of a new subsidiary that will focus solely on the retail sector. Dubai Properties Group (DPG), a member of Dubai Holding, said its new retail development and management solutions subsidiary, Dubai Retail, has commenced operations aiming to develop the emirate’s retail sector through the construction of shopping malls and retail markets.

Haiyan Mujarkech, an industry veteran, has been appointed the chief executive of Dubai Retail, according to a DPG statement issued here.

“Dubai Retail is a unique entity that is entirely committed to offering service excellence and innovative solutions to our clients,” Mujarkech said in the statement.

“We have a talent pool that leads in industry expertise and market knowledge that will prove to be the key determinants in our success,” he said.

The new entity, which was launched in March this year as part of DPG’s move to consolidate its overall operations, offers a comprehensive line-up of services and solutions in retail leasing, innovative concepts, management of space, consulting services, franchise management, marketing intelligence services and tenant mix solutions, the DPG statement said.

This Middle East metropolis is famed for its huge malls and draws millions of tourists from across the world.

Recently, another Dubai-based real estate major Emaar Properties announced that it will open its new Dubai Mall, one of the largest malls in the world, Oct 30 this year.

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