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FINANCIAL NEWS
Landmark Group eyes $5b revenue by 2015
08 Oct 2011
(MENAFN) Dubai-based Landmark Group said that it eyes more than USD5 billion by 2015 with expansion and diversification plans, Khaleej Times reported.
Landmark’s current revenues in the Middle East region is USD3.8 billion, and with its Indian business, the total turnover is USD4.5 billion.
The Dubai retail and hospitality giant believes that the main drivers of the projected growth would be markets in Egypt, Lebanon and Turkey.
Vipen Sethi, chief executive of Landmark Group revealed that the conglomerate will explore African markets as well as more Asian markets while strengthening its hospitality brand in the Middle East.
He also said that the group had registered a 28 per cent growth for the year 2010-11, adding that it has registered a consistent annual growth of 25 percent every year from annual revenue of $1.1 billion in 2006.
It is worth mentioning that the Landmark marked a milestone with more than 1,000 outlets encompassing 18 million square feet of retail space across its portfolios in the Middle East and India.
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