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Fri 9 Dec 2016 12:52 AM

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Mall developer aswaaq set to build two new Dubai retail projects

Community malls will open in the growing areas of Nad Al Sheba and Al Quoz 2 in Q4 2017

Mall developer aswaaq set to build two new Dubai retail projects

Community malls developer aswaaq has announced plans for two new neighbourhood retail developments in Dubai.

The community malls will open in the growing areas of Nad Al Sheba and Al Quoz 2 with a total built up area of 88,000 sq ft to meet increasing demand in these areas, the company said in a statement.

Over the next five years, aswaaq said it plans to open 50 further supermarkets and marts, and 23 community malls, with a reach that extends across the emirates.

aswaaq said that the contract for the new developments has been awarded to contractor Green Bridge, adding that both new retail developments are to be located in the heart of each neighbourhood.

They are expected to be completed in the fourth quarter of 2017 and will each contain between 15 and 20 independent retail units, anchored by aswaaq supermarket.

“Dubai is growing at a rapid pace, and as a national company aswaaq is dedicated to meeting the ever-evolving needs of our customers,” said Affan Al-Khoori, deputy CEO of aswaaq.

“At our heart, we are a community organisation - by listening to our customers and stakeholders, our 2021 strategy aims to further expand our reach and engage even more UAE residents with our world-class retail experience and community spirit.”

aswaaq said it is dedicated to providing opportunities to local businesses and entrepreneurs - one of its core company policies ensures that a minimum of 20 percent of tenants are SMEs.

The new developments will join aswaaq’s current portfolio of seven community malls, nine supermarkets and two marts across Dubai, as well as the brand’s online shopping and delivery service.

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