GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share
  • Dubai Outlet Mall to add 3 million square feet in its expansion
  • Dubai Outlet Mall celebrates 10 years as a premier value-shopping destination as it looks to enhance its leadership in the UAE retail arena 

 Dubai, United Arab Emirates (February 13, 2018):   Seeking to redefine the value shopping space in the UAE retail arena, Al Ahli Holding Group announced a significant development in the Dubai Outlet Mall expansion today. Dubai Outlet Mall secured an Islamic club financing facility worth AED 1.25 billion for the expansion and general corporate purposes. Dubai Outlet Mall is part of the Al Ahli Holding Group, which is a major UAE conglomerate.
 
Dubai Islamic Bank acted as the coordinator, mandated lead arranger, bookrunner, investment agent and security agent for the transaction with Ajman Bank, Al Hilal Bank and Noor Bank participating as financiers in the facility. 
 
The expansion will enhance the position of Dubai Outlet Mall as a favoured retail hotspot for shoppers from all over the UAE and the GCC. Through a huge selection of global brands, family entertainment and dining options, the expansion will make Dubai Outlet Mall shopping a memorable experience for visitors. 
 
Dubai Outlet Mall pioneered the Outlet Shopping category a decade ago when it entered the UAE retail market.  

Scheduled to open in the fourth quarter of 2019, the expansion of Dubai Outlet Mall will see 3 million square feet added to the existing 1.1 million square feet of built up area; making Dubai Outlet Mall one of the largest outlet malls in the world. There will be a mix of hypermarket, cinemas and multiple levels of ambient lifestyle-focused retail and dining options.

 On the occasion, Mohammed Khammas, CEO of Al Ahli Holding Group, said: “Securing a finance facility from leading banks like Dubai Islamic Bank, Ajman Bank, Al Hilal Bank and Noor Bank is a significant testament to the confidence in the project and Al Ahli Holding Group capabilities. This move and the eventual expansion of Dubai Outlet Mall also marks our intent to set new industry standards in the value shopping space; meeting customer expectations and enhancing our position as an industry leader.”
 
Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, said: “We are pleased to be associated with the Dubai Outlet Mall expansion which will position it on a strong growth trajectory while being a distinctive addition to Dubai's retail offering. As the largest Islamic Bank in the UAE, Dubai Islamic Bank has been actively involved in supporting the development of the retail sector in the country, and coordinating the financing of this project further cements our commitment to the sector.”

 Mr. Mohamed Amiri, CEO of Ajman Bank, said, “We at Ajman Bank are delighted to have partnered with Al Ahli Holding Group for financing the expansion of Dubai Outlet Mall which is one of the most trusted and premium retail destinations in the region. This agreement is a true reflection of Ajman bank's focus and keenness of the bank to support the retail sector by financing specific development projects that creates compelling new retail and lifestyle experiences and supports the city's growth outlook of further strengthening its core economic sectors, including retail, tourism and hospitality. The tie-up reflects Ajman Bank's commitment to ensure that its customers' needs are met optimally and is in line with its objective to offer compelling new retail and lifestyle experiences while supporting prestigious developments in the buoyant retail sector.”

Alex Coelho, CEO of Al Hilal Bank, commented: “Ranking 5th in the global retail index, the UAE continues to reinforce its position on the global economic map. Dubai Outlet Mall has always been an appealing platform for local, regional and international retailers, attracting large numbers of tourists and shopping enthusiasts. At Al Hilal Bank we strongly believe that the expansion will further strengthen the mall's value proposition.  Our collaboration on this project is in line with our objective of contributing towards the UAE's economic diversification. We look forward to partner with Al Ahli Holding Group to deliver yet another success story in the UAE.” 

John Iossifidis, CEO of Noor Bank, said: “We are proud to collaborate with Al Ahli Holding Group as well as our partner banks to fund the expansion of Dubai Outlet Mall. The financing facility is a strong endorsement of our proven ability to provide targeted and comprehensive Shari'a-compliant financial solutions that meet our clients' strategic objectives. Furthermore, our support for one of the UAE's prime retail destinations reinforces our unwavering commitment to contribute to the development of the country's thriving retail sector.”

In addition to these new developments, Dubai Outlet Mall also celebrated the prominent milestone of its 10 year anniversary with a wide variety of activities to reward shoppers ranging from chances for visitors to get into a draw to win a Mediterranean cruise or concert tickets to the Ed Sheeran show, unbeatable bargains with amazing offers, offering free makeovers to shoppers etc. Various activations to create excitement were also conducted with fitness related group activities for visitors to enjoy along with a cooking demo for family and kids among others.



Posted by : GoDubai Editorial Team
Viewed 14268 times
Posted on : Tuesday, February 13, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Robinsons Honored for Outstanding Store Design
Next Story : A Gift for Everyone on SOUQ.com's Valentine's Day Gift Shop
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Flaunt your gravity-defying hairstyles to become the face of our brand
Sony Unveils Newest Products and Introduces Latest Efforts from Entertainment B...
Hask's Winter Care for Your Hair
Celebrate Valentine's Day with GUESS
New Lamborghini Huracán EVO: elevation of technologies for amplified drivin...
Start the Year with some TLC and enjoy the fantastic offers at The SPA at Steige...
Rolls-Royce Motor Cars Achieves Historic Business Record
Trend Alert: Stay Timeless and Classy With a D1 Milano Timepiece
Tissot Chemin des Tourelles
Nokia 8 Sirocco blends premium craftsmanship and latest innovation with Android™...
Gharib Lands Al Shira'aa Double As One-Star Event Comes To A Close
LG Electronics' Promise of AI for an even Better Life Delivered at CES 2019 Keynote
Continental Commissions First Driverless Tyre Test Vehicle
19 reasons to fly with British Airways in 2019
Hankook 24 Hours of Dubai kicks off the 2019 season for Audi
Celebrate the Month of Love with a Brighter Smile at The Smile Bar
Global Village presents Scheherazade, a timeless tale of intrigue and adventure
HP Opens CES 2019 with Stunning Displays, PCs and Security Innovations
Malabar Gold & Diamonds opens a new showroom in Millennium Dubai Airport Hotel t...
Longchamp Spring/summer 2019 Show
Eberhard & Co. Main Sponsor of Winter Marathon 2019
Introducing Burberry Bespoke Fragrances
Turkish Airlines reached the 80.2% Load Factor in December 2018.
Always take the front row with this 7.2” supersized smartphone screen
Samsung Smart TVs to Launch iTunes Movies & TV Shows and Support AirPlay 2 Begin...
Epson to participate at SGI 2019 for the 10th year highlighting high value solut...
Third Edition of Al Shira'aa International Horse Show Concludes with Thrilling Finale
Bring out the Chef in your little ones at 800 Degrees Pizzeria
Shane Breen Wins Grand Prix Qualifier at Al Shira'aa International Horse Show fo...
Young Al Owais Ends Al Shira'aa One Star With Victory
Celebrate Valentine's Day With a Quintessential Timepiece From D1 Milano
Dubai Festival City Mall's Festival Bay transformed with a new, larger-than-lif...
Smart City Services at Silicon Park Reach Advanced Level of Completion
Eberhard & Co. Gilda makes an extraordinary Valentine's Day gift
Making many tones from one
Cadillac announces Middle East arrival of the 2019 ATS model
Tag Heuer Demonstrates Watchmaking Mastery With Its New Carrera Calibre Heuer 02...
Beef Sushi- Love at first bite
Canadian University Dubai (CUD) launches degree program in Climate Change in par...
Union Coop Among the ‘Elite' Sponsors of The FAZZA Championships for People of D...
ADEK's Winter Activities Program in Abu Dhabi hailed a resounding success
Premier Motors in collaboration with ADNOC Distribution provides
Dubai Tourism Releases AED250 Million in Bank Guarantees of Tourism Companies to...
Bollywood Actor Anil Kapoor to inaugurate 2 new outlets of Malabar Gold & Diamon...
Flying Grand Regulator now available in new colour combinations
The Preston watch collection by Coach
S@TIS' traceability software packages to feature at Arab Health 2019
The Commemorative Silver Coin
Joyalukkas Shopper wins BMW Car in DSF Mega Promotion
Citi UAE opens Citigold lounge in Abu Dhabi.