One of the Middle East’s largest FEC operating companies has revealed that overall spend in the United Arab Emirates increased by 22 per cent in the first half of 2022.
Majid Al Futtaim (MAF), the shopping malls developer with its own entertainment division comprising FECs Magic Planet and cinema chain VOX, has issued a ‘state of the UAE retail economy’ report.
The number of visitors to its malls rose by 15 per cent in the first half of the year and retail spending grew 16 per cent while there was a 31 per cent growth in the non-retail sectors, which would include its entertainment interests.
It noted that consumer purchases, particularly in its supermarket sector, had shifted towards lower value and higher frequency.
MAF has 28 shopping malls in the UAE, Egypt and Saudi Arabia and has a number of entertainment centres and attractions, the best known of which is the 18-venue Magic Planet FECs.
