Dubai Mall owner Emaar to discuss selling its e-commerce business

Dubai Mall owner Emaar to discuss selling its e-commerce business

The board of Dubai’s Emaar Properties (EMAR.DU), which owns the Dubai Mall, will meet on Thursday to discuss the sale of its e-commerce fashion business, the company said on Monday.

The meeting, disclosed in a statement, will be held a week after Emaar announced a $2 billion cash and stock buyout of a joint venture partner in one of its real estate projects.

Emaar, known for building the world’s tallest tower, the Burj Khalifa, and other iconic parts of Dubai, bought Namshi for a total of $281 million after first acquiring a 51% stake in 2017 before buying the remaining 49% in 2019.

Source : Breakingtravelnews