War hit tourism and spending. This UAE retail giant is still betting big.
Majid Al Futtaim CEO Ahmed Galal Ismail says the war created a “very noticeable” demand shock, hitting consumer confidence, spending and tourism revenues in the second quarter.
After six months of disruption across the region, Ismail says the crisis has also changed how he thinks about leadership.
But he says Majid Al Futtaim is staying the course on its nearly AED 100 billion (approximately $30 billion) development pipeline, betting on long-term growth even as the business navigates an uncertain environment.
Watch the full conversation on Managing Middle East.
