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Pic: Michael Vi / Shutterstock.com JD.com, one of China’s largest online retailers, is headed for the Middle-East following a partnership agreement with fashion and lifestyle platform Namshi. Chinese brands like Baleno, Dodogogo, Latit and Mo&Co will now be sold on the Namshi platform. As part of the deal, Namshi will launch several fashion and lifestyle brands from China later in April.
Beijing-based JD.com had revenues of 745.8 billion yuan ($114.97 billion) for the year, news agency Reuters reported in March. Namshi meaning moving forward was founded in 2011. According to the agreement, the Dubai-headquartered platform will provide JD.com with local logistics, warehousing, marketing and content creation support in the region.
Dubai: Emaar Properties reported 2020 property sales of Dh10.90 billion on Sunday and said it appointed a woman to its board.
Emaar recorded property sales of Dh6.321 billion ($ 1.72 billion) in the UAE alone. The developer said it handed over more than 72,100 residential units in Dubai and international markets, with more than 26,000 currently under development in the UAE and 12,000 units in global markets.
“The performance reflects sustained interest from investors, both domestic and foreign,” said Emaar in a statement.
The shareholders also elected a new board of directors composed of 9 members, including a woman. This comes after UAE’s Securities and Commodities Authority (SCA) made it compulsory for listed companies to appoint at least one woman to their boards.
RIYADH: Dubai’s Emaar Properties posted a 140 percent increase in first-quarter sales to 6 billion dirhams ($1.6 billion), founder Mohamed Alabbar told Al Arabiya on Thursday. Alabbar expressed his optimism about the current year, which has seen the improvement after 2020 was marred by the coronavirus pandemic. “The numbers are promising despite the difficulties that the hotel and malls sector still faces,” he said. Emaar is focusing on markets such as India, Egypt and Saudi Arabia, in addition to Pakistan, he said. “UAE and Dubai in particular are still a major center due to the promising growth in the emirate,” he said. Emaar Properties income dropped 20 percent to 19.71 billion dirhams ($5.37 billion) in 2020, while net profit fell 58 percent to 2.62 billion dirhams.