UAE economy maintains global ties
The United Arab Emirates has adopted a flexible and globally connected economy, characterized by a strong infrastructure and increasing economic diversification. This has contributed to a rapid recovery in the retail sector during the first half of 2026. The "Majid Al Futtaim" Group achieved record profits of AED 2.5 billion in the first half, representing an 11% year-on-year increase, along with noticeable developments in its investments, such as the "Grove Woods" project and the expansion of "Mall of the Emirates." Net borrowings rose to AED 13.2 billion. The group has also strengthened its performance by focusing on financial and operational discipline, maintaining a flexible response to market changes and geopolitical fluctuations, and striving toward long-term sustainability.
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