Abu Dhabi, February 03, 2010: IKEA UAE, part of Al-Futtaim group today announced it expects to serve nearly 1.3 million visitors in the first year of operations when the world's best known furniture and furnishing company opens for business on Yas Island, the major new leisure and entertainment destination under development in Abu Dhabi by Aldar Properties, in early 2011.
The announcement was made following a formal ground breaking ceremony on Yas Island involving senior management from Al-Futtaim, IKEA and Aldar Properties and the media.
Mile Franicevic, Group Director - Retail, Al-Futtaim said IKEA was looking forward to be one of the first globally recognised retailers on Yas Island. The IKEA store will be a complete family destination and will form part of Yas Island's retail centre based around Yas Mall, featuring a wide range of retail categories from individual boutiques to large format value retailers.
The present IKEA store in Marina Mall will relocate to Yas Island where it will be a full-fledged concept store. IKEA also operates a store at Dubai Festival City.
"The IKEA store on Yas Island will be a complete family destination and will serve the IKEA concept with its full service-warehouse. We have already determined the ideal store size and depth of range, and if all goes well, are hoping to be up and running within one year from today," Mr. Franicevic said.
"The groundbreaking event clearly signals IKEA's long term plans of being part of the country's high growth area. It is also an enormous milestone for IKEA which will be one of the first globally recognised retailers to operate from Yas Island."
In addition to the Yas Marina Circuit, the host venue for the Formula 1™ Etihad Abu Dhabi Grand Prix. Yas Island is also home to seven hotels including the signature Yas Hotel and Yas Marina, a super-yacht marina with capacity for over 140 yachts. Yas Links Golf, the first "Links" Golf Course in the Middle East will open in the coming months and Ferrari World Abu Dhabi, the world's first Ferrari theme park will open later this year.
In addition to the retail venues under development, further leisure, hospitality and residential elements are planned for Yas Island.
Mr. Franicevic confirmed the 32,000sqm flagship store will be a strong impetus for the Swedish retailer to push ahead with plans to expand into the region.
"Our business continues to grow in the Middle East, more so in the present economic environment. This is proof of the strength of the IKEA brand in this part of the world and the intense loyalty of our customers. We expect around 1.3 million visitors to the Yas Island store in the first year of operations," he added.
IKEA store on Yas Island will have 1,500 parking bays for its visitors who will be served by 35 cash tills at the back of a total sales area of 19,150sqm. The cash tills include refund/exchange desks and IKEA Food & Beverage counters. Alongside Market-Hall (6,000sqm) and Showroom Furniture (6,150sqm) areas, there will also be a 550-seat, 2,100sqm restaurant serving popular Swedish delicacies as well as its healthy and affordable breakfast and lunches. There is also an exciting and fun IKEA play area for the young customers.
Speaking at the event, Mohammed Al Mubarak, Chief Commercial Officer, Aldar Properties, commented: "It is a great honour to celebrate this momentous occasion with our colleagues from Al-Futtaim and IKEA. Aldar is committed to bringing the very best international brands to Yas Island and all its retail developments, and the start of construction on the Middle East's finest IKEA store is a great milestone in achieving this goal."
Mr. Franicevic also said delivering genuinely low prices to our customers is a top priority for IKEA. "The IKEA vision is to offer a wide range of home furnishings of good design and function at prices so low that the majority of people can afford to buy them," he said.
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About IKEA UAE
IKEA UAE, a member of Al-Futtaim group, offers an extensive range of home furnishing items of good design, value and functionality. IKEA UAE closely follows the popular self-serve, self assembly concept which was conceived in Sweden over half a century ago and offers customers a complete family day out through its ability to cater to children's needs. Toll free number for the world-famous brand is 800 4532 (800 IKEA). For more information visit www.IKEAuae.com
About Aldar Properties:
Aldar Properties PJSC is Abu Dhabi's leading property development, management and investment company. It listed on the Abu Dhabi Securities market in 2004. Aldar was established to support the region's infrastructure through the creation of high quality, attractive and sustainable communities equipped with residential, commercial, retail, leisure, hospitality, education and medical facilities. Aldar's diverse property portfolio includes major developments and re-developments within Abu Dhabi including Yas Island, Al Raha Beach, Central Market, Al Falah, Nareel Island, and Noor Al Ain. The company owns over 50 million square metres of land in strategic locations throughout the Emirate. For further details visit www.aldar.com
For more information please contact:
David D'Souza
Director - Public Relations
GMASCO Marketing Communications
An Al-Futtaim group company
Tel: +971 4 228 2101
Fax: +971 4 227 9801
Email: David.DSouza@gmasco.com
Yusra Al Junaibi
Aldar Properties PJSC
Tel: +971 2 696 4698
Mob: 050-5918383
Email: yaljunaibi@aldar.com
© Press Release 2010
