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FINANCIAL NEWS
Dubai Duty Free to boost annual sales to USD2.72b
25 Jan 2012
(MENAFN) Dubai Duty Free (DDF) executive vice chairman, Colm McLoughlin, said that by 2018, the company would double annual sales to USD2.72 billion, reported Gulf News.
McLoughlin added that the target would be achieved through expanding its retail space at Dubai International Airport and Dubai World Central with an investment of USD7.8 billion that would include adding 8,000 square meters of retail space at the new Concourse 3, which would be dedicated to the Emirates A380.
He also said that DDF and Dubai Airport Company would also finance the Concourse 4, which would be constructed in 2016, with USD7.62 billion, of which 60 percent to 65 percent would be provided by DDF.
It is worth noting that Dubai Duty Free recorded an increase of 15.69 percent in sales last year over 2010, at USD1.44billion.
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