Abu Dhabi: Aldar Properties sees Al Ain as a key growth market in the retail sector and plans to expand Al Jimi Mall, which attracts eight million visitors annually.
The company will add 65 stores, including a 10-screen cinema, and a retail park to the existing 94 outlets in Al Jimi Mall, bringing the total leasable area to 75,000 sqm, Aldar said in a statement.
The expansion project, with an estimated cost of Dh318 million, is set to be completed in 2018.
“The growing retail sector is supporting evidence of how the city is evolving to become a cultural and community hub. At Aldar, our ambition in Al Ain is to complement the existing entertainment and lifestyle amenities in the city to offer visitors a memorable shopping and leisure experience,” said Talal Al Dhiyebi, chief development officer at Aldar Properties.
Aldar also owns Remal Mall, Shabhat Plaza, and its residential development, Oyoun Village in Al Ain.
According to the Urban Planning Council’s Plan Al Ain 2030, the city population will witness a threefold increase over the next two decades.
“As a result, driven by strong consumer demand, the city’s retail sector is set for rapid growth as retail space per resident is expected to increase to approximately 1.115 square metres by 2030,” Aldar said in a statement.
Aldar Properties, listed on the Abu Dhabi Stock Exchange, is known for the development of projects like Yas Mall, Yas Marina Circuit etc.
