Al Jimi Set to Become Retail and Entertainment Centre for the UAE's Eastern Region
Abu Dhabi, United Arab Emirates, December 18, 2005 - ALDAR Properties PJSC today announced that it has taken over the ownership and management of the Al Jimi Mall, under a lease with Abu Dhabi Government.
Commenting on this latest development in Al Jimi's history, Chairman of ALDAR Properties Ahmed Ali Al Sayegh said: "Al Jimi Mall is an important asset for Al Ain. ALDAR Properties is delighted to now take full responsibility for its growth and success in the years to come. It is already a popular destination - there are plans in place to ensure that the Mall continues to innovate, surprise and excite customers in the immediate vicinity and across the Eastern Region."
Al Jimi Mall has been an outstanding success story since its opening four years ago. Lying within an immediate catchment area of over 425,000 people, it already attracts over six million visitors a year. With its current and future expansion plans, Al Jimi is set to become the Retail and Entertainment Centre for the entire Eastern Region.
Working closely with the local authorities, ALDAR is consistently improving the retail offer, creating a destination of choice for the residents of and visitors to Al Ain. An East Wing expansion is now complete with tenants poised to begin shopfitting for an opening in early 2006.
This expansion has added 27,000 square metres of new retail offering over two floors including premium brand fashion, cosmetics, jewellery and perfumes on the ground floor and terraced cafes and restaurants on the first floor.
Plans are already well underway for a 19,000 square metre West Wing expansion. Al Faraa General Contracting will begin construction early in 2006.
The West Wing will add greatly to Al Jimi's entertainment offering with a multi screen cinema, children's play area and youth and lifestyle brands. Adel Beraiki, ALDAR's Sales and Leasing Director, commented: "ALDAR's plans for Al Jimi are attracting a lot of interest from potential retailers and entertainment providers looking for a foothold in this area of the UAE. "
"We look forward to announcing some exciting names in the not too distant future which will dramatically increase the offering for consumers at all age levels."
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Note to Editors:
ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors
ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development in Sas Al Nakel, the Mubadala Development Company - Environment Authority Headquarter Building in Abu Dhabi, Al Jimi Mall Expansion in Al Ain, Jebel Hafeet Resort in Jebel Hafeet, Al Ain, and the Al Mudheef Urban Regeneration Scheme in Al Mudheef.
ALDAR Properties PJSC is a key sponsor of the 2005 TEDAD general census of population, buildings and establishments being undertaken by the Ministry of Economy and Planning..
For more information, please contact Ousama Ghannoum, Marketing and Communication Director of ALDAR on 02 6336886 or visit our website www.aldar.com or contact Sareem International ALDAR's corporate communications advisers on the numbers below:
Abu Dhabi OfficeTel.: +971 (2) 6771196
Fax: +971 (2) 6790060
E-Mail: info@sareem.net
Dubai Office
Tel.: +971 (4) 343 3688
Fax: +971 (4) 321 1988
E-Mail: info@sareem.net
© Press Release 2005
