Tuesday, May 23, 2017

RAK mall expansion work nearing completion

UAE-based Al Hamra Real Estate Development is nearing completion on the first phase of its Dh390 million ($106 million) expansion work at Manar Mall, the premier retail and leisure destination in the northern emirate of Ras Al Khaimah.

Once completed the gross leasable area (GLA) at Manar Mall will increase from just over 300,000 sq ft to nearly 600,000 sq ft over two levels, said the statement from Al Hamra Real Estate

It will add another 80 retail destinations thus taking the total number of retail outlets to 164 providing a wide range of international and local retailers for residents and visitors alike.

The first phase work will be completed and handed over to the mall authorities by the end of the second quarter this year, said the company statement.

This complements the ambitions of the RAK Tourism Development Authority, which recorded 800,000 tourists in 2016, up 10.9 per cent over the previous year, with a target of one million visitors by the end of 2019, it added.

The Manar Mall expansion is being undertaken by Al Hamra Real Estate Development, a fully owned subsidiary of Al Hamra Group, which has proven expertise in developing and managing master-planned communities.

Al Hamra Group owns hospitality, retail and leisure assets such as the iconic Waldorf Astoria Ras Al Khaimah.

“The expansion of Manar Mall, is in line with the growing trend for community retail and leisure-based destinations that focus on the customer experience and convenience of location and access, as opposed to the mega-malls that have defined the UAE’s retail landscape over the last decade,” remarked Benoy Kurien, the general manager, Al Hamra Real Estate Development.

Located close to RAK city centre, the mall is already home to renowned brands such as Carrefour, Marks & Spencer, H&M, Sephora, M&Co, GAP, New Look, Next, Mothercare, Boots, Bath & Body Works, Chili’s, McDonald’s and KFC, together with some of the UAE’s most iconic homegrown retail brands, including Paris Gallery, Sun & Sand Sport, Damas and E-Max, with a Fun City and a seven-screen Novo cinema.

“Retail developments with integrated leisure and entertainment facilities, positioned alongside restaurants and cafes are key to driving footfall, as more people demand local, indoor, family-oriented destinations for leisure, entertainment, dining and of course shopping,” he added.-TradeArabia News Service



from Construction Realestate


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