Expansion Plans

Al Tayer to launch Crate & Barrel

Al Tayer Group has announced that it will soon set up the first Crate & Barrel home furnishing stores outside North America, with the first one to come up in Dubai, early in 2010.

In a franchise contract, the Al Tayer Group will establish two shops in 2010, out of which first will be located in the Mall of the Emirates and the second in Mirdif City Centre which will also open its doors in the first three month period.

Renaissance to open five hotels in region by 2012

Renaissance Hotels & Resorts, the Marriott group's lifestyle brand, has decided to set up five properties in the Middle East over the coming three fiscals.

The sources informed that the division is having global development pipeline of 24 hotels due to appear between now and 2012.

The sources further informed that 257-room Renaissance Doha will be established later this fiscal and will be followed in 2010 by three more properties out of which two in Dubai and one in Bahrain.

Egypt Kuwait Holding to establish new fertilizer & Petrochemical Company

Egypt Kuwait Holding has decided to set up a fertilizer and petrochemical company with capital of EGP500m ($90.4m), in partnership with other Egyptian and Gulf investors.

Mashreqbank to add 16 branches & 10 new ATM in the region

Mashreqbank PSC, one of the leading banks in the United Arab Emirates (UAE) has revealed its plan to open 16 branches in Abu Dhabi and Al Ain.

The proposed move would bring the total number of branches run by the Dubai-based bank to 46 in the UAE.

In addition, the bank also has plans to add additional 10 ATM cash withdrawal machines in the region.