Community Shopping Centres for Dubai to Rein in Inflation

dubai — Redrawing the retail shopping experience in the UAE, the first Aswaaq centre will open in Nad Al Hamar by the end of this month, offering fair prices for the products.

By Mary Nammour

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Published: Mon 6 Oct 2008, 1:21 AM

Last updated: Sun 5 Apr 2015, 7:28 PM

Under Aswaaq, a pioneering concept of shopping inspired by the open street market or souq, community centres consisting of supermarkets and retail shops are being planned in 37 locations around Dubai in the next five years.

The basic objective is to offer residents the opportunity to do shopping in the heart of their community, sparing them the traffic hassles.

The government owns 45 per cent of the stakes in Aswaaq (markets), a public joint stock company, while individual investors will own the remaining stakes.

In a recent interview with Khaleej Times, Eric Poiret, Chief Operating Officer, Aswaaq, said Aswaaq projects have been drawn up based on a meticulous study of the growing needs of the increasing population of Dubai.

There are many shopping centres in the city but the location of these centres is not convenient to the people. “We picked Nad Al Hamar, for example, because of the scarcity of shopping centres in the area. The residents have to travel far bearing the traffic congestion to purchase items now. With Aswaaq, the residents’ life will be much easier.”

Aswaaq will consider direct imports and heavily promote its private label in its bid to rein in inflation.

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