Duty Free will invest Dh650m in retail outlets

Dubai: Dubai Duty Free (DDF) will invest Dh650 million to develop its retail outlets at Dubai International Airport (DIA) and Al Maktoum International Airport.

It will also launch its own hotel at Dubai World Central, a Dh500 million project, Colm McLoughlin, DDF managing director, told reporters at the Middle East Duty Free Conference yesterday.

Additional revenues will be generated for the retailer who earned $1.1 billion (Dh4.04 billion) last year, when retail space is increased by Concourse 3 in 2012.

The largest jump in retail space, however, will be at Al Maktoum International Airport which will add about 2,250 square metres across four outlets there.

DDF's investment in developing its retail outlets in the first phase of the project will be Dh40 million, McLoughlin said.

Meanwhile, DDF will spend Dh20 million to refurbish Terminal 2 at DIA, and an investment of Dh100 million at Concourse 3 will start in 2012.

"Terminal 2 has been producing very well for the past 12 years and will soon be refurbished completely," McLoughlin said.