Dubai's Al-Futtaim Malls launches new company - PLEX - to take on management contracts
PLEX will look at possible contracts in Middle East markets and even beyond
Dubai: Dubai’s Al-Futtaim Malls has launched a new company to take on potential management of malls and other retail destinations owned by other entities.
PLEX Management Services will target such deals not just in the UAE, but elsewhere in the region. Al-Futtaim Malls operates the ‘Festival’ branded malls in Dubai. “The Al-Futtaim Group has significantly expanded its business operations through a strategic acquisition plan and has entered several territories, increasing its footprint beyond the GCC and Greater Middle East to encompass, Asia and East Africa,” said Timothy Earnest, Group Director Al-Futtaim Malls.
“With the launch of PLEX, we are continuing to grow and expand, further diversifying our offering.”
Al-Futtaim has a directly managed portfolio that includes 9 million plus square feet of space across four malls in the region and with two under development.