Nakheel hires retail chief
Nakheel has appointed the former head of retail operations at rival group Majid al-Futtaim (MAF) to head up its restructured retail business.
Graham Dreverman has resigned as managing director of MAF Shopping Malls and will shortly join the rival group. A Nakheel spokesman confirms the appointment saying Dreverman will become chief executive officer of Nakheel Retail.
He will join a company with relatively few shopping malls and few agreements with international retailers to operate their franchises in the Middle East.
Nakheel's main development is the 140,000-square metre Ibn Battuta mall in Dubai, although it also plans to build retail developments on the Palm Jumeirah and owns the Dragon Mart Mall. The division was restructured earlier this year when Istithmar Retail was brought in. Dreverman will also have control of the Retailcorps arm, which has the local franchises for Sports World and clothing company Joe Bloggs.
By comparison, MAF Shopping Malls is one of the Gulf's largest retailing businesses, owning malls throughout the region and running franchise operations for several international retailers.
MAF Hypermarkets, a subsidiary of MAF Shopping Malls, operates the franchise of French retailer Carrefour, the second largest supermarket group in the world.
It has opened 24 Carrefour hypermarkets in eight countries in the region since 1995. It plans to open a further four in 2007, including its first in Kuwait.
The joint venture with Carrefour generated sales of AED 7,000 million ($1,906 million) in 2006. The Carrefour franchise is among the top four or five supermarket retailers in most Middle East countries.
Anders Moberg, chief executive officer of MAF, declined to comment.
www.meed.com/companiesmarkets
Nakheel has appointed the former head of retail operations at rival group Majid al-Futtaim (MAF) to head up its restructured retail business.
Graham Dreverman has resigned as managing director of MAF Shopping Malls and will shortly join the rival group. A Nakheel spokesman confirms the appointment saying Dreverman will become chief executive officer of Nakheel Retail. He will join a company with relatively few shopping malls and few agreements with international retailers to operate their franchises in the Middle East. Nakheel's main development is the 140,000-square metre Ibn Battuta mall in Dubai, although it also plans to build retail developments on the Palm Jumeirah and owns the Dragon Mart Mall. The division was restructured earlier this year when Istithmar Retail was brought in. Dreverman will also have control of the Retailcorps arm, which has the local franchises for Sports World and clothing company Joe Bloggs. By comparison, MAF Shopping Malls is one of the Gulf's largest retailing businesses, owning malls throughout the region and running franchise operations for several international retailers. MAF Hypermarkets, a subsidiary of MAF Shopping Malls, operates the franchise of French retailer Carrefour, the second largest supermarket group in the world. It has opened 24 Carrefour hypermarkets in eight countries in the region since 1995. It plans to open a further four in 2007, including its first in Kuwait. The joint venture with Carrefour generated sales of AED 7,000 million ($1,906 million) in 2006. The Carrefour franchise is among the top four or five supermarket retailers in most Middle East countries. Anders Moberg, chief executive officer of MAF, declined to comment. www.meed.com/companiesmarketsThis content is only available to full MEED package subscribers (MEED magazine and MEED.com).
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