Mideast’s largest mall operator to expand amid vaccine hopes

DUBAI, United Arab Emirates (AP) — The Middle East’s largest operator of malls expects revenue and earnings to climb back to pre-pandemic levels by the end of next year and is moving full steam ahead with plans to develop its biggest mall ever. Majid Al Futtaim’s chief executive officer tells the Associated Press it’s a sign that business is steadily rebounding amid vaccine rollouts in some countries of the region. The company’s businesses, which include malls, cinemas and some 350 Carrefour grocery stores, are rebounding, he says. Despite last year’s economic slump, Majid Al Futtaim plans to open more movie screens this year in Saudi Arabia and is developing it’s biggest mall project ever in Riyadh.