Myer's Dubai move put on hold
on Tuesday, 24 March 2009
MOVE POSTPONED: Australian department store Myer has put off plans to expand into Dubai. (Getty Images)
Myer
Ltd, Australia's largest department store chain, said on Tuesday any
expansion into Dubai was on hold as its joint venture partner Nakheel
had postponed building the shopping centres Myer would have entered.
"I
don't see anything happening with that in the short to medium term,"
executive chairman Bill Wavish told analysts and reporters at the
group's first-half results.
Myer said last year it was in talks
with Nakheel Retail to set up department stores, and at the time had
expected the first to open in Dubai in late 2009 or early 2010.
(Reuters) |