Line Investments takes over management of Madinat Zayed Shopping center & Gold Souk |
|
Abu Dhabi: The Abu Dhabi based retail major EMKE GroupEMKE Group
has been awarded the management rights of prestigious Madinat Zayed Shopping Center & Gold SoukMadinat Zayed Shopping Center & Gold Souk with effect from 1st January 2007. The agreement to this effect was signed by H.E. Jouan Salem Al Dhaheri, Chairman of Abu Dhabi MunicipalityAbu Dhabi Municipality and Mr. Yusuffali M.A., Managing Director of EMKE GroupEMKE Group, parent company of LINE INVESTMENT & PROPERTY LLC, at a function held at Abu Dhabi MunicipalityAbu Dhabi Municipality.Commenting on the new agreement Mr. Yusuffali said "we feel honoured to be awarded this contract for managing this AED 800 million shopping center by the authorities and will make sure that this becomes one of the most favoured shopping and leisure destinations for all the residents and visitors alike. We have already commissioned M/s White Young Emirates as the consultant for the renovation and face lifting to bring in the most modern international standards and amenities. The work to this effect will start by the 1st of March at a cost of Dhs.150 million."
Apart from renovating the existing structure, plans are also afoot for adding more than 250,000 sq. ft. space to accommodate a world class hypermarket, family entertainment and amusement center, multicuisine food court, etc.
"Line Investment and Properties LLC, our exclusive mall management division will be in charge of the leasing and management of the renamed Madinat Zayed Mall" added Mr. Yusuffali.
Line Investment and Properties LLC will be opening their 3 new projects i.e., Khalidiyah Mall, Al Wahda Mall and Al Raha Mall in the first quarter of 2007 in Abu Dhabi. Other ongoing projects include mega shopping malls in Riyadh, Dammam, Jeddah, Bahrain, Muscat, Doha and India.
"Entire world is now looking with greater interest at Abu Dhabi as one of the best investment friendly market in this region because of booming economic development in the real estate, tourism, aviation and leisure sectors. And we plan to strongly contribute to this growth by launching many more new projects in the emirate at an investment of more than one billion dirhams" concluded
EMKE group with an annual turnover of more than AED 4 billion is the largest operator of hypermarkets and supermarkets across the Middle East under the flagship brand of LuLu with 56 stores and plans to open 9 more hypermarkets in 2007.
-Ends-
© Press Release 2006
from Grafik International
Comment on this article 
Loading ...-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Stories
Loading...Companies
Loading...Projects
Loading...Blogs
Loading...