Aldar, after buying Al Hamra Mall in February 2022, has initiated a redevelopment plan for the mall. The undertaking consists of refurbishing the façade, increasing the F&B choices, and introducing extra in style manufacturers. The work is already in progress, being carried out in phases, and is predicted to be accomplished by mid-2024.
The funding announcement comes after Yas Mall’s profitable Dh500 million redevelopment plan, which reworked the mall’s consumer journey, working, and monetary efficiency. Following this success, the corporate plans to make the most of its lively asset administration capabilities to copy comparable outperformance for Al Jimi Mall and Al Hamra Mall, bettering their monetary working efficiency and asset values.
“The redevelopment plan for Al Jimi Mall is a game-changer for the retail scene in Al Ain and helps us ship long-term worth for the neighborhood,” stated Saoud Khoory, Chief Retail Officer at Aldar Funding. “We’re additionally delighted to be furthering our funding in Ras Al Khaimah because the emirate continues to point out robust development potential as a hospitality, tourism, and residential vacation spot.”
Throughout the department stores, company might be welcomed in a totally upgraded façade in addition to a brand new valet parking space and drop-off areas. The widespread areas might be absolutely refurbished, together with however not restricted to corridors, welcome desks, amenities, and the implementation of digital way-finding options, the corporate stated.