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Sat 30 Jul 2016 10:06 AM

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Aldar targets Al Ain with retail expansion plan

Al Jimi Mall in Al Ain undergoes expansion programme to add 65 stores, 10-screen cinema and a retail park

Aldar targets Al Ain with retail expansion plan

Aldar Properties is targeting the emirate of Al Ain as a key expansion market for its retail portfolio, driven by its significant local population and vibrant business landscape.

According to Urban Planning Council’s “Plan Al Ain 2030”, the city population will witness a 3 fold increase over the next two decades.

As a result, Aldar said in a statement that driven by strong consumer demand, the city’s retail sector is set for rapid growth as retail space per resident is expected to increase to approximately 1.115 square metres by 2030.

Aldar said its Al Jimi Mall in Al Ain, which currently attracts 8 million visitors annually, is undergoing a massive expansion programme to add a further 65 stores, including a 10-screen cinema, and a retail park to the existing 94 outlets, bringing the total leasable area to 75,000 sq m. The expansion project is set to be completed in 2018.

Talal Al Dhiyebi, chief development officer at Aldar Properties, said: “Al Ain is traditionally known for its natural heritage, and the unique lifestyle it offers residents. The growing retail sector is supporting evidence of how the city is evolving to become a cultural and community hub.

"At Aldar, our ambition in Al Ain is to complement the existing entertainment and lifestyle amenities in the city to offer visitors a memorable shopping and leisure experience.”

He added: “Aldar retail assets are serving the needs of the people of the UAE, including Al Ain. Our existing retail assets in the city are part of our strategy to further diversify our investment portfolio and grow our recurring revenue assets.”

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