Milestone department store, cafe to open in Dubai

  • Share via facebook
  • Tweet this
  • Bookmark and Share
A rendering of the cafe inside the proposed Milestone Department Store in Dubai.

A rendering of the cafe inside the proposed Milestone Department Store in Dubai.

Indebted Dubai developer Limitless has announced that it has leased a 9,000 sq ft space to Milestone, a high-end department store and cafe concept, in Jumeirah Village.

The store, which is due to open in May 2013, will cover two floors and have parking for 75 vehicles at Al Khail Plaza. It will be the first Milestone store to open in Dubai.

Milestone will also offer a laundry service, ATM services, deliveries to Jumeirah Village, online ordering services and a customer loyalty scheme. Fit-out is planned to begin in January, Limitless said in a statement.

Bahaa Abouhatab, Limitless head of UAE Projects, said: "Milestone will be a welcome addition to Jumeirah Village, providing high-quality produce and everyday conveniences to people living in and around the development."

Ashfaque Ahmed, chief operating officer of Milestone, added: "Al Khail Plaza was a natural choice for our first Milestone store. Jumeirah Village is an elite development in Dubai and we believe our unique cafe and department store concept is a perfect fit for this growing community."

In October, Limitless reached an agreement to restructure a $1.2bn loan with its creditors.

Limitless said it had honoured all profit payments on the loan since signing it in 2008 and will continue to make payments going forward. The Islamic facility was owed to a syndicate of banks and had originally been due to mature in March 2010.

The company has now also cleared obligations to 92 percent of its trade creditors, Limitless said, and signed settlement deals with the rest.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of to Germany’s Rocket Internet for...

How the UAE is sewing together a top industry

How the UAE is sewing together a top industry

In the shadows of oil and aviation, the UAE’s textiles industry...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

Most Popular
Most Discussed