Peter Walichnowski, chief executive officer of Majid Al Futtaim Investments, said: "Majid Al Futtaim's relationship with the Al shaya Group stretches back almost 10 years since the opening of Deira City Centre and we are delighted to strengthen our ties further with this deal for Mall Of the Emirates. This agreement will see the opening of the biggest Debenhams store in the Middle East, which will provide another unique point of difference for our mall."
The Alshaya Group's portfolio consists of more than 30 international retail brands including several of the world's leading clothing, health, beauty, fashion and restaurant names, including Starbucks, Next,Laura Ashley, Milano, Dorothy Perkins,The Bear Factory and Mothercare. Many of these household names will have stores in Mall of the Emirates.
Mr Mohammed Abdulaziz Alshaya, chief executive officer for Alshaya Retail said, "We are sure that the Mall of the Emirates will become one of the leading leisure and retail destinations in the Middle East. We have had a very successful relationship with Majid Al Futtaim over many years and are proud to be associated with this exciting new development."
Mall of the Emirates will be the world's biggest mall and the biggest outside North America when it opens in September 2005 on Shaikh Zayed Road. It will include over 2.4 million sq ft of shopping, leisure and entertainment space, the largest Carrefour hypermarket in Dubai, a 14 screen multiplex cinema, and a 400-room hotel. It will also incorporate the Middle East's first Ski Resort featuring one of the world's longest indoor ski slopes and a play area where children and parents can have a true winter experience with real snow.
The study takes into account premium office rents of Dubai International Financial Centre (DIFC) and Abu Dhabi Global Markets (ADGM)
Business2 days ago