Dubai: In good news for businesses looking to hit the ground running with a mall store, Dubai's Festival Plaza announced the launch of 'ready to lease' spaces.
These spaces, a media statement from the company said, would get rid of the cost of large overheads or full fitout expenditures. Businesses would only have to add finishing touches and furnishing, enabling them to open their store in a matter of weeks.
From the check in process to trading in just four short weeks, businesses will be able to take advantage of a fully prepped space, including lighting, flooring and painted surfaces, air-conditioning, ventilation, ready for merchandise and branding.
With many businesses choosing to go phygital - physical shopping experiences combined with digital offerings - such ready to lease spaces in a mall would be the time-effective way to get into market without too much of a capital expenditure.
Already home to Dubai's second IKEA store and a Lulu hypermarket, the mall has around 120 shops, nearly 40 dining outlets and a food court. The mall's new ready to lease spaces will be available to check in in the first half of 2023.
Hayssam Hajjar, General Manager, Al-Futtaim Malls UAE said, “Over the past few years we’ve seen exponential growth in online retail shopping and sales. However, this has not hindered the traditional shopping experience, with consumers looking to spend time enjoying the simple pleasures that they did not have access to for a long period of time. In tandem, we understand that economically, it is not the easiest time to set up a retail business and watch it thrive without expensive overheads and requiring immense capital."
"We felt it was our duty as a community mall to give back to the budding community of SMEs and entrepreneurs, being part of their journey to expand their successful brands, no matter the size or years in business. Just as we do with our customers, we look to offer businesses and brands unique and diverse opportunities and offerings.”
The community mall is located in Jebel Ali village, which is fast becoming a prime location for retailers given its close proximity to the residential developments in the area including wasl Gate, The Gardens, Discovery Gardens, Al Furjan etc. The mall has a bus stop, and the nearest Dubai metro station is Energy Metro Station.
