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 Retail

 
  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 10766 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
GUESS Trend Alert | The Summer Blues
Hair Rituel by Sisley Now available at Paris Gallery
Beautiful Freaks
Alfahim Announces New Three-year Partnership With UAE Triathlon Federation
Danube Properties launches Dh550 million Lawnz project at International City, ad...
Samsung Introduces Sunrise Gold and Coral Blue Editions for the Galaxy S9 and S9+
UAE Team Emirates Blend Youth and Experience as They Announce Line-up for Italia...
Back to the 90s with GUESS Originals
RAYMOND WEIL Freelancer ACDC Limited Edition
Shop and earn Skywards Miles at The Dubai Mall
The Rado True Open Heart Automatic
Keep cool with Marks & Spencer's linen collection
Tommy Hilfiger introduces latest SS18 women's watch collection
TAG Heuer celebrates the 50th anniversary of the Gulf victory in the 24 Hours of...
Realty exhibition brings plethora of investment opportunities for expat Indians
Skyline Suhoor Night 2018
What's better than a good breakfast on your Birthday? One that is free!
The 22nd edition of Indian Property Show to take place in Dubai from 21-23 June 2018
Eberhard & Co. Scafograf Black Sheep
Dubai Tourism Launches State-of-the-art Airport Installation to Inspire Dxb Tran...
Make a style statement on your wrist
Learn to enhance your body and home energy quotient
EU Reinforces Position at the Forefront of Global Energy Transformation, Says IRENA
Fatima Bint Hazza Inaugurates Abu Dhabi Ladies' Club
Sharjah's Economic Realities Focal Point of Statistics and Community Development...
Saint Honore Allure Lady-Charming colour
KHDA accredited Parent Education Courses equip parents with positive parenting tools
Orolia Awarded $34 Million Contract to Deliver Personnel Recovery Devices to the...
TAG Heuer back at the 24 Hours of Le Mans
Abu Dhabi International Airport Achieves Sustainability Milestone
Emirates Motor Company wins prestigious global award for outstanding customer se...
Dubai Customs showcases its experience to Chinese delegates
RAYMOND WEIL celebrates the stellar world with the new Maestro Moon Phase
Abu Dhabi Airports Opens New Sleeping Facility for Transfer passengers in Terminal 3
DAMAC Properties to showcase five of its Dubai flagship properties at LPS Beijin...
Drive home in a Dodge RAM, dance with your favourite Looney Tunes stars and rev...
Hyperloop Transportation Technologies Signs Agreement for Commercial System in U...
A Fresh New Look to the World's Oldest Islamic Bank
The New Limited Edition Bremont Endurance - Tested Beyond Endurance on Trans-ant...
Swiss Soccerr Star Ricardo Rodríguez Signs With Lucerne-based Watch Manufa...
Connected aircraft to save aviation industry $15 billion per year and 21.3 mill...
Zurich launches Allocated Passive funds, offering investors a new, simple, low-c...
Why The Global Sukuk Market Is Stalling In 2018
Audi A8 most innovative model of 2018
Malabar Gold & Diamonds conducted ‘Safety for All' training in association with ...
Commitment and Protection – the increasing importance of DIFC Wills amid economi...
Rashid Hospital becomes the first in Dubai to implement sacral nerve stimulation...
Making the leap from leasing to UAE home owner
Dubai Cares launches ‘WASH UP! Girl Talk' program in Zimbabwe to promote healthy...
Infinix Partners With Google to Launch New Mobile Innovation in the Middle East ...