The two million square foot mall will feature a multi-screen cinema, supermarket, speciality shops and F&B options.
In an exclusive interview, George Kostas elaborates on the future of the company.
The store is the first to open for business in the mall’s renovated North Wing.
Malas is leaving to pursue new opportunities in the SME sector, the company said.
The six-year loan, originally signed in July 2012, was split between dirham- and U.S. dollar-denominated tranches.
Kuwait’s Americana issued a statement earlier this week saying it had no knowledge of any talks with Savola on a possible acquisition.
It said a recent meeting between the two companies was intended only to discuss the possibility of joint cooperation in certain fields and markets.
The first phase of the new shopping mall – located in IMPZ – will feature 60 international outlets.
The listing is expected to raise Dhs8-Dhs9 billion, making it one of the region’s largest equity offers since 2008.
Americana, 67 per cent owned by the Kharafi family, may be sold, according to reports.
The company is also building a factory in Dubai to keep pace with its growth plans in the region.
The new mall will feature an entertainment zone and an ice rink and will anchored by a LuLu hypermarket, the retail giant said.
The UAE-based fast food chain has teamed up with Prism Properties to open its outlet in the South Indian city.
The new chain of outlets will be located across the country with the first two outlets opening in Muscat, the company said.
The firm made Dhs12.8 billion ($3.5 billion) in the six months to June 30, it said in a statement.
Savola’s packaging unit’s consolidated net profit last year fell to SAR69.5 million from SAR100 million a year earlier.
Savola is a major producer of cooking oil, sugar and other foodstuffs in the Kingdom.
The new department store, spread across 200,000 sqft, will showcase over 200 global brands.
The company made a net profit in the three months to June 30 of SAR513.3 million ($136.9 million), compared with SAR387.8 million in the same period a year earlier.
The developer signed a Dhs6 million contract for a beachside entertainment complex in Palm Jumeirah and confirmed that it has signed the contract for Deira Islands Mall.
Cash divident is lower than the SAR1.70 per share which the firm paid for the corresponding period of 2013.
Shisha cafes benefitted the most as they drew late night crowds with suhour menus and live streaming of soccer games.
National Beverage Company (NBC) manufactures and distributes Coca-Cola, Pampa, and other products in Lebanon.
The stake was acquired from a group of investors including private equity firm Jadwa Investment.
The affiliate of Abraaj Capital is seeking to buy at least a 51 per cent stake in the Egyptian snack maker.
Agthia also distributes Al Ain Water, Ice Crystal Water, Capri Sun kid’s juice drink and natural spring bottled water Alpin in the country.
The company said the increase was due higher sales in all segments apart from computers.
Last week, Bloomberg reported private-equity firms KKR & Co LP and TPG Capital were among groups looking to buy a majority stake in the food retailer.
The development will include the world’s largest mall and a range of leisure, retail, cultural, wellness and hospitality options.
The company said rising costs had crimped its half-year profit due to a rising wage bill associated with localisation efforts.