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Fri 3 Jul 2015 09:10 AM

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New $62m RAK shopping mall set to be completed in Q3 2016

Expansion work at Manar Mall in Ras Al Khaimah will see the net leasable area at the mall rise from 30,000 to 60,000 sq m

New $62m RAK shopping mall set to be completed in Q3 2016

A major AED230 million ($62.6 million) expansion of a UAE shopping mall is scheduled to be completed in the third quarter of 2016, it has been announced.

The expansion work at Manar Mall in Ras Al Khaimah will see the net leasable area at the mall rise from 30,000 to 60,000 square metres.

Already home to major international chains, including Carrefour, Marks & Spencer, H&M, Paris Gallery, Novo Cinemas, and Funcity, the construction work on Manar Mall started in April.

The new development includes a spectacular waterfront retail promenade overlooking local mangroves and a brand new entertainment centre.

Barry Ebrahimy, head of commercial at Al Hamra Real Estate Development, which is building the extension, said the expansion of Manar Mall continued to generate huge interest from tenants looking to take advantage of new space.

"Despite the fact that we had already received expressions of interest for the majority of the new leasable when the project was announced, we have continued to receive large volumes of enquiries," he said.

"Some of those enquiries include major global fashion brands and discussions are ongoing. We are also pleased with how are plans are coming together in terms of ensuring space left by tenants moving to the promenade is filled," he said.

Leading international retail franchise operator MH Alshaya Co, which currently operates 8 brands in Manar Mall - H&M, Next, Milano, Dorothy Perkins, Mothercare, Claire's, MAC and Pinkberry - has underlined its ongoing commitment.

"Alshaya will be opening its pharmacy brand Boots in the Mall later this year, and is looking at further food brands in the future," said a company spokesperson.

The expansion and refurbishment of Manar Mall was designed by Cadiz International, with Shankland Cox Ltd appointed as lead consultants.

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