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Abu Dhabi: Today, The Mall at World Trade Center Abu Dhabi (The Mall at WTCAD), the contemporary shopping destination located in the heart of the capital, announced that it has signed a contract with the region's leading hypermarket chain, Lulu Hypermarket, to launch a new 100,000 square foot store, as part of its ongoing initiative to diversify its retail portfolio.
The Leasing Agreement was signed during an official ceremony held in Yas Viceroy Hotel with the attendance of Mohammad Khalifa Al Mubarak, Chief Executive Officer of Aldar Properties PJSC, Talal Al Dhiyebi, Chief Development Officer of Aldar Properties PJSC Yusuff Ali M.A., the chairman of the Lulu Group and Saifee T. Rupawala, Chief Executive Officer of the Lulu Group.
Talal Al Dhiyebi, Chief Development Officer of ALDAR, also spoke at the signing ceremony: "The Mall at WTCAD has undertaken extensive market research to better understand the needs and preferences of our customers and so have taken a strategic approach to diversify our retail offering. By introducing leading brands, like Lulu Hypermarket, we aim to exceed customer expectations, by providing the best shopping and leisure experience and therefore we are delighted to be signing this new collaboration."
He also added "It has been our policy to go nearer to the potential shoppers rather than making them drive long-distance to reach us and experience our best offering with regard to quality of products, standard of service and pricing."
The new hypermarket will primarily focus on grocery and supermarket products, with a product range that is specifically targeted at the large multinational population residing in Abu Dhabi.
Commenting on the new project Yusuffali MA, Chairman of Lulu group, said, "Being an Abu Dhabi headquartered company we are obviously thrilled to join hands with the very reputed ALDAR group and The Mall at WTCAD. I am sure the brand equity of LULU combined with our vast experience in retailing will help us deliver a world class shopping experience to the shoppers here."
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About The Mall at World Trade Center Abu Dhabi
The Mall is a modern shopping destination located at the heart of Abu Dhabi on Khalifa Bin Zayed the Frist Street. Catering for a diverse range of fashion and food-centric customers this community destination houses a wide variety of experiences and tastes all under one roof. The Mall invites visitors to enjoy a unique retail experience with over 160 stores whilst the range of dining outlets, guarantees a great day out for both families and friends. Ample underground parking spaces, as well as valet parking are also available.
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About Aldar Properties
Abu Dhabi-based Aldar Properties PJSC is one of the largest developers in the Middle East and North Africa region, with almost US$12 billion of assets. The company has developed some of Abu Dhabi's most iconic and complex projects, from the Formula 1 facilities on Yas Island to the thriving new Shams Abu Dhabi community on Al Reem Island. Its property portfolio is diversified and balanced with a total asset mix comprising residential communities, retail property, with the remaining in commercial. There are also nine hotels with more than 2,500 available rooms. With a land bank of over 77 million square metres, 90 per cent of which is in special investment zones, Aldar Properties is focused on serving the growing demand in the UAE for high-quality and professionally managed property. Aldar Properties is a strong partner of the Government of Abu Dhabi, which is also a major shareholder. The business is aligned with the Emirate's "Vision 2030" strategy of economic diversification and social infrastructure development.
FURTHER MEDIA ENQUIRIES
The Mall at World Trade Center Abu Dhabi
Latifa Fouz, PR & Social Media Manager
+971 2 508 2400
lfouz@aldar.com
Bell Pottinger
Layla Haroon
00971 55 636 0425
lharoon@bellpottinger.com
© Press Release 2016
