Dubai Outlet Mall, an integral part of Dubailand’s AED3.7 billion Dubai Outlet City, received a delegation of Singapore-based companies looking to invest in the new development.
Around 15 leading food, lifestyle and fashion brands visited the mall as part of the International Enterprise Franchise Mission to discuss franchise options and strategies to penetrate the UAE market. They also met with representatives of Al Ahli Group, developers of the new shopping centre, and management of property services leader Asteco. Dubai Outlet Mall is expected to open later this year.
“Dubai’s growing retail market driven by increasing numbers of overseas visitors is attracting more international investors. Like Singapore, Dubai has become known as a world-class shopping destination, and it is not surprising that top Singapore retail names are now seriously looking at expanding to the city,” said Tony Abdel Ahad, Director Retail Division for property services leader Asteco.
Fashion label Celia Loe, jewellery specialist Perlini’s Silver, and the high-end furniture brand Art et Domain were among the Singapore delegation to visit Dubai Outlet Mall.
Raheed Nargud, Regional Director of the International Enterprise Franchise Mission, Singapore, said: “Consumers in the Middle East are increasingly diverse; the fact that 20 new shopping malls will open over the next three years shows the demand for new retail concepts is increasing. Singapore retailers are looking to benefit from this demand, and expand ties between the Asia and Middle East markets.”
Dubai Outlet Mall will be the first shopping venue of its kind in the region, housing factory outlets of the world’s leading brands under one roof.
Asteco’s Abdel Ahad added: “The response to the concept has been encouraging because of its novelty. Singapore brands are relatively new to the region, but the appetite of Middle East consumers for new brands is immense. We will help identify local partnerships and work to create the most ideal retail environment.”
Dubai Outlet Mall will have a Gross Leasable Area of more than one million square feet and accommodate more than 200 outlets, a cinema complex, an amusement park, and parking for approximately 9,000 vehicles.
Situated 15 minutes drive from Dubai International Airport, the mall is the first phase of the 10 million square feet mixed used development Dubai Outlet City, which will feature 10 residential and commercial towers, a promenade and two premium hotels.
Al Ahli Group signed a leasing and management contract with Savills International and Asteco for Dubai Outlet Mall in February.
Founded in Dubai in 1985, Asteco is the UAE’s largest property services company. Its services include retail, commercial and residential sales and leasing; strategic consultancy; property management and marketing; feasibility studies and valuations; and research and investment.
