Emaar Malls conducted its Annual General Meeting (AGM), and its Board of Directors commented on the company's accomplishments amid the difficult business dynamics caused by the Covid-19 pandemic on the global economy and retail sector.

The Board of Directors emphasized Emaar Malls' attempts to assist the Dubai Government's battle against Covid-19 by establishing a Vaccination Hub at The Dubai Mall. They also emphasized Emaar Malls' commitment to the financial well-being of their retail tenants and their measures to protect SMEs by offering more than Dhs 1 billion (US$ 272 million) in rental relief during 2020. The assistance has been extended until March 31, 2021.

Emaar Malls made Dhs3.508 billion ($ 955 million) in turnover in 2020. In 2020, the overall net profit was Dhs 704 million ($192 million).

“Without the tremendous commitment of our Shareholders and workers in the previous year, Emaar will not be in its strong position that it is presently,” said Mohamed Alabbar, Founder and Managing Director of Emaar Properties. In one of the most difficult times in years, we have shown remarkable adaptability, allowing Emaar Malls to continue to provide the unparalleled shopping and entertainment experience for residents and visitors alike.

“We anticipate that the upward momentum will persist in the coming year, as we see visitors returning to our malls and entertainment amenities with renewed vigor. “Digital transformation is at the heart of our industry, and we strive to engage and collaborate smartly with our customers and shareholders to promote business growth,” Alabbar added.

Deliveries from Al-Futtaim HINO: Al-Futtaim HINO, an Al-Futtaim Automotive subsidiary that predominantly licenses light, moderate, and heavy-duty HINO trucks in the UAE, has provided 32 HINO trucks to Bee'ah, the Middle East's sustainability leader and fastest-growing environmental protection firm. The cumulative number of HINO trucks in Bee'ah's fleet now stands at 133.

Following a contract last year with West Coast Saubermacher to supply 220 light, moderate, and heavy-duty HINO vehicles, the latest agreement reinforces Al-presence Futtaim's in the Waste Management field in the UAE.

“HINO trucks commodity adaptability, specification, and reliability grant us a distinct supremacy in the Waste Management sector,” said Ramez Hamdan, Managing Director – Industrial Equipment (FAMCO, HINO, Toyota Material Handling), Al-Futtaim Automotive. This is largely due to our consumers' continuing faith in our goods and our one-of-a-kind aftersales operation, HINO Total Support.

Sharjah Airport International Free Zone (SAIF Zone): The Sharjah Airport International Free Zone (SAIF Zone) has strengthened and protected its influential status as a global investor gateway with the signing of an investment agreement with Indian Forpack Industries, the largest manufacturer of recycled Kraft Board & Coreboard Paper.

According to the terms of the contract, Forpack Industries will create its first headquarters in the UAE by leasing four warehouses totaling 25.833 square feet in the SAIF Zone's U2 sector.

The accord was reached in the presence of senior officials from both sides by Saud Salim Al Mazrouei, Director of Sharjah Airport International Free Zone, and Mr. Samir Lakhani, Chairman of Forpack Industries.

As per the MoU, the company's current capital investment is projected to be Dhs 10 million, and the working annual turnover is estimated to be Dhs 50 million per year, with business plans including the procurement of total packaging methods, the manufacturing and sales of industrial pallet wrap Stretch film and LLDPE cling film, and the production of cardboard boxes and tissue paper.

“This agreement represents a new global recognition of the profitable opportunities offered by the Emirate of Sharjah and SAIF Zone to investors and companies keen to get more out of growth potential in the industrial and logistics services sector in the country,” said Saud Salim Al Mazrouei, who welcomed the deal and the addition of For pack Industries to SAIF Zone's investor base and the benefits offered by the “U2 region,” which is outfitted with modern world-class warehouses and cutting-edge warehouse engineering and design equipment.

“Owing to the accessibility of advanced facilities, excellent logistics networks, and a strategic position, the Emirate of Sharjah has established a strong foothold and has become a prime destination for developing businesses and the presence of profitable investment prospects because of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Member of the UAE Supreme Council and Ruler of Sharjah,” Al Mazrouei said.

Al Mazrouei said that obtaining such high-quality investments supports and strengthens national strategies and plans, and the UAE's Unified Industrial Brand Identity – Make it in the Emirates, our main strategic pillars at SAIF Zone, particularly when the plastics industry is the most significant and vibrant manufacturing industries in the UAE and the Gulf region.