Retail
chain. Wednesday.
Two sensors are currently in use at level
2. In the next development step at level
4, there will be significantly more, all
also higher performing. This leads to a
completely new level of data volume but
also places extremely high demands on
the quality of data processing. The goal:
the driver’s perception is recreated by the
holistic recording of the traffic and vehicle
situation by different sensor technologies.
With their specific strengths, each sensor
makes a contribution to the overall
performance and safety. Three different
technological approaches form the basis:
radar, camera and lidar. Revenues for the Dubai-based
retail, real estate, and hospitality
conglomerate grew to Dh34.6 billion.
Majid Al Futtaim, which is privately
owned, said it made Dh4.6 billion
before interest, taxation, depreciation
and amortisation (EBITDA) in
2018, helped by its expanding retail
operations throughout the region, and
its diversification efforts.
The safety, precision and durability of the
systems will already play a leading role at
launch. As in aircraft, all safety-relevant
functions will therefore be equipped
with a redundant system that is capable
of seamlessly taking over in case the
primary control system malfunctions.
UAE retail giant rakes
in Dh34.6 billion in
revenues on robust
shopping, real estate
businesses
Source: Gulf News
M
ajid Al Futtaim has reported an
eight per cent growth in group
revenues for 2018, while profits increased
by nine per cent, the company said on
48 | JANUARY 2019
Last year was “a year of growth for our
company,” despite the macroeconomic
challenges that affected consumer
sentiment, Majid Al Futtaim Holding
chief executive Alain Bejjani said.
“Our strategy to diversify our offering
and geographical presence, as well as
our commitment to customer centricity
and technology investments has
yielded great results,” he added.
During 2018, Majid Al Futtaim
continued its strategy of investing
heavily in its digital capabilities, in
addition to its e-commerce offering,
including a partnership with grocery
delivery service Wadi, and an
acquisition of payments system BEAM.
In terms of the company’s physical
presence, Majid Al Futtaim opened two
new shopping malls in the UAE and
Oman, increased its number of hotels
to 13, and added 33 grocery retail
stores, growing its portfolio to 264.
Revenue from shopping malls
increased by 3 per cent, with the
company attributing this growth to
lease renewals at higher rates, and the
impact of opening Mall of Egypt. Total