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Tuesday, July 23, 2024

Aldar invests AED 1 billion in retail portfolio

Aldar Properties allocates AED 500 million to redevelop key retail assets: Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. The total investment in retail portfolio redevelopment now reaches AED 1 billion.

The plan for Al Jimi Mall includes a 20% increase in Gross Leasable Area (GLA), introducing new anchor retailers and premium international brands, with completion expected by Q1 2025.

The ongoing phased redevelopment of Al Hamra Mall will be completed by mid-2024, featuring a refurbished facade, expanded F&B options, and new well-loved brands. These investments reflect Aldar’s commitment to creating vibrant retail destinations in line with global trends.

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