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FINANCIAL NEWS
Dubai Duty Free to part-finance development of Dubai Intl airport
23 Aug 2011
(MENAFN) Dubai Duty Free’s (DDF) Executive Vice-Chairman, Colm McLoughlin, said that as part of the expansion of Dubai International Airport, the travel retail operation would part-finance the improvement of the new Concourse 4, reported Gulf News.
McLoughlin added that the total value of the expansion operations at the Dubai International Airport would reach USD7.6 billion.
He also said that previously, the DDF established its headquarters and central storage at Al Ramool with a cost of USD136 million and the five star luxury hotel at the Aviation Club, which would be managed by the Jumeirah Group.
It is worth noting that DDF’s sales revenue in 2010 reached USD1.27 billion. Moreover, on a daily basis, DDF registered 60,000 transactions and sold 71 million items of merchandise annually.
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