SouqExtra!, the new concept chain of neighbourbood super-centres, and Dubai World Central (DWC), the 140 square kilometre urban land development, have signed a Memorandum of Understanding (MoU) to explore retail development opportunities at DWC Residential City – the project’s residential component.
DWC Residential City’s future 250,000 residents will benefit from this unique concept if the SouqExtra model is chosen, as it will allow residents of the sprawling 716 hectare city to shop for their daily groceries without having to travel long distances, as each outlet will house all essential services, including entertainment and leisure amenities.
The MoU was signed by Saleh Lootah, Founding and Managing Director of SouqExtra, and Khalid bin Harib, CEO Real Estate, Dubai World Central.
“The SouqExtra concept is ideal for a futuristic project like DWC Residential City,” said Lootah. “We have developed this model keeping in mind people like to shop for their groceries without having to travel to big supermarkets, while at the same time offering primary services and entertainment facilities within their area of residence. We are the pioneers of this concept in the region, and most master developers are keen to adopt this model.”
DWC is a unique master developer having pioneered the Greenfield development in the UAE and is developing a whole new city centered round the world’s largest airport – Al Maktoum International Airport.
“Providing the latest in community facilities is our priority and DWC is leaving no stone unturned in developing urban planning models which will serve every real estate need,” said bin Harib. “DWC Residential City is being meticulously planned to ensure ease and comfort to its residents, and one of the key priorities is to reduce traffic congestion. The SouqExtra concept is synergistic with Dubai World Central’s vision of enabling an easy lifestyle for its residents.”
SouqExtra has pioneered a unique model of community-focused centres, with integrated primary services such as high-end grocery, kids’ play area, fast food outlets, coffee shops, full-fledged gymnasium, salon, photo shop and community hall, designed along the tagline ‘My Favourite Place’.
The MoU with DWC follows SouqExtra’s implementation of the first phase across the UAE. Four SouqExtra outlets are already under construction in Dubai (Ewan Residences, Al Quoz, Al Barsha and Muhaisnah), to be operational by the end of 2008. There will be 10 outlets in the UAE by 2009, including one each in Ras Al Khaimah and Fujairah, with additional facilities like Car Wash and Children’s Nursery.
SouqExtra is promoted by a clutch of companies, including the Lootah Group, Emirates Post Group, National Bonds Corporation, Bonyan Holding, Abbas Group and a group of high network individuals, SouqExtra is implementing the first phase with an investment of Dhs 200 million.
About SouqExtra!
SouqExtra! is the name of neighbourhood community-focused centers, with integrated primary services such as high-end grocery, kids’ play area, fast food outlets, coffee shops, full-fledged gymnasium, salon, photo shop and community hall, all designed to help the community meet their daily needs. SouqExtra’s tagline “My Favourite Place” sums up the concept’s unique sales proposition. The gyms, for instance, will offer the full range of fitness equipment, complete with a trainer. The community hall will be rented out to residents for hosting parties, birthdays, events, celebrations, family gatherings and other community activities. The Phase 1 of SouqExtra will add retail space of 500,000 sq. ft. in UAE. Each SouqExtra outlet will boast a uniform design with a friendly ambience and ample parking spaces, to serve as a one-stop shop for day to day needs of the community.
About Dubai World Central:
Dubai World Central (DWC) is a 140 square kilometre urban aviation community centred around the world’s largest international airport. Currently being built 40 kilometres from the existing Dubai International Airport the project is almost twice the size of Hong Kong Island.
DWC creates a new benchmark in urban planning and destination living designed to support Dubai’s aviation, tourism, commercial and logistics requirements until 2050 and represents one of the most important developments in the history of the United Arab Emirates.
Eventually home to 900,000 people, DWC will be true ‘city-within-a-city’ with all the amenities that make up a world-class residential destination.
DWC, with infrastructure costs estimated at US $33 billion, comprises six specialized clustered zones: Al Maktoum International Airport, Dubai Logistics City (DLC), DWC Commercial City, DWC Residential City, DWC Aviation City and DWC Golf City.
DWC is endorsed by the Government of Dubai and is chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai City of Aviation Corporation – Dubai World Central, Government of Dubai.
DWC Residential City will include a mix of five-ten storey mid-cost apartment blocks. Up to 250,000 people are expected to live in this ‘city’. A special staff village will house blue-collar workers within high-quality accommodation.
