UAE Retail to be on track by mid-2021: Majid Al Futtaim CEO

Covid-19 has left a major effect on the world economy and it’s the vaccine for this virus which is being hailed in a big way so as to put the economy back on the track.  

Top add to this positive feeling, Dubai-based mall Majid Al Futtaim’s CEO Alain Bejjani has said that the rollout of the vaccines will help in putting the economy back on track in 2021. He has claimed that UAE’s retail economy will be back to 2019 levels by mid-2021.  

While talking to a news daily, Alain Bejjani said that things will get better with the global vaccination drive. “We are going to see a much better comeback after the first quarter of next year.”  

“UAE’s retail economy is now coming back quite strongly and by mid-2021 we should be back to 2019 levels,” he said further. He had earlier mentioned in August that the business in shopping malls had seen a drop in the first half of the year.  

Given the pandemic situation, The UAE had earlier this year shut all the malls and cinema halls, Majid Al Futtaim’s main source of revenue. 

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