The Dubai Festival City all lighted up... Al-Futtaim Malls has expanded the Festival concept outside of Dubai as well. Now, it wants to take on management contracts for third-party retail assets. Image Credit: Supplied

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.

What's PLEX about?
PLEX Management Services will offer asset management and development, leasing, and brand experience expertise to third-party owned malls and retail organizations.
Stock Timothy Earnest, Group Director Al Futtaim Malls
Timothy Earnest, Group Director Al-Futtaim Malls, “As a family-owned business and a business deeply rooted in the success of the region, we take a long-term view in everything we do…” Image Credit: Supplied