As part of aswaaq's dedication to nurturing SMEs, at least 20% of leasing opportunities offered to Dubai SME members
Dubai, UAE, 29 November 2016: aswaaq has announced plans for two unique new neighborhood retail developments in Dubai. Developed specifically to create a convenient and inspiring community hub for nearby residents, the community malls will open in the growing areas of Nad Al Sheba and Al Quoz 2 with a total built up area of 88,000 SQF in order to meet the increasing demand for community and retail services in these areas. aswaaq disclosed that the contract for the new developments has been awarded to contractor "Green Bridge”, on account of the company’s prior experience in the region, and track record for delivering projects on time.
Both new retail developments are to be located in the heart of each neighborhood. Plans for each development incorporate traditional design elements which evoke the brand’s Middle Eastern heritage, combined with aswaaq’s award-winning branding throughout the interiors, and modern features such as expansive double-height ceilings and rooftop skylights - creating a contemporary ambiance which further enhances customers’ shopping experience.
With a focus on bringing world-class retail into the community, aswaaq’s new projects are expected to be completed in Q4 of 2017 and will each contain between 15 and 20 independent retail units, anchored by aswaaq supermarket. The community malls are being built as a direct response to Dubai’s rapidly growing population, and the increased need to provide community-focused retail services in new or up-and-coming residential areas. The decision to go into those two communities is also driven by aswaaq’s social role and the new projects are part of the company’s ongoing philosophy to provide a tailor-made neighborhood retail solution that serves the differing needs of each local community.
“Dubai is growing at a rapid pace, and as a national company aswaaq is dedicated to meeting the ever-evolving needs of our customers,” says Affan Al-Khoori, Deputy CEO of aswaaq. “At our heart, we are a community organization - by listening to our customers and stakeholders, our 2021 strategy aims to further expand our reach and engage even more UAE residents with our world-class retail experience and community spirit.”
aswaaq is dedicated to providing opportunities to local businesses and entrepreneurs in order to support them as they expand and interact with their customers within the community. The company will offer an overall percentage of leasing opportunities within the two new developments to Dubai SME members - one of aswaaq’s core company policies ensures that a minimum of 20% of tenants are SMEs, with the current number of SME tenants across aswaaq’s UAE portfolio at approximately 30%. As well as minimum tenant quotas, aswaaq operates a number of forward-thinking initiatives which benefit local SMEs and help support them through the start-up phase, including a 20% discount on rent for the first two years of tenancy, plus a quarterly rent payment schedule, rather than the usual bi-annual payments.
The new developments will join aswaaq’s current portfolio of seven community malls, nine supermarkets and two marts across Dubai, as well as the brand’s convenient online shopping and delivery service, aswaaqonline.ae, which brings top quality service and world class produce direct to customers’ doors. The service has recently been expanded further to cater to residents of Nad Al Sheba.
aswaaq’s wider 2021 strategy aims to bring the company even closer to customers across the UAE. Over the next five years, aswaaq plans to open 50 further supermarkets and marts, and 23 community malls, with a reach that extends across the emirates.
For more information about aswaaq, contact:
Tel: +9714 388 9802
aswaaq is a local pioneering brand in the modern world of shopping envisioned to be bench-marked as a world-class retailer in the region. “Let’s All Speak aaswaaq” a language that breaks down all barriers of communication and brings the community together under one umbrella
aswaaq is a fresh, strong and easily recognizable brand consists of small & medium sized Community Malls located at the heart of the communities with aswaaq supermarket surrounded by retail shops aiming at becoming number one shopping destination of the surrounding neighborhood.
aswaaq supermarkets offers a unique and friendly shopping experience characterized by the quality of the products and services provided based on the needs of the surrounding neighborhood. aswaaq Loyalty Program ‘Wafa’ provides the customers with endless benefits including 10% cash back on monthly purchases.
aswaaq is HACCP, ISO 14001, ISO 9001 and OHSAS 18001 certified. In 2014, aswaaq was awarded Dubai Quality Appreciation Certificate.
© Press Release 2016