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 5429 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
MAC - Hyper Real Glow
M∙A∙C Mineralize Total Detox
Introducing Vitabrid C12, a brand-new, proprietary form of active Vitamin C bein...
5 things to know about collagen
Fresh Hair in an Instant with SHOW Beauty
PUMA and Sahntell Martin Unveil Debut Collection
Amadeo® Fleurier 39 “Fan”
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March...
Moreish Café in Dubai introduces a healthy Quinoa Burrito
Mother's Day Gift Guide 2018 from The Little Birdy Group
True Colours
Robinsons Honored for Outstanding Store Design
UAE Team Emirates' Mirza Takes Gold at Asian Cycling Championships
Phenomenal development in falconry racing from small beginnings: HHC Deputy CEO
WGS 2018: Opening Session Highlights Importance of Embracing Smart Living to Enh...
World-renowned Air Sculpture Artist Daniel Wurtzel collaborates with LG PuriCare...
MB&F M.A.D. Gallery presents aeronautical artwork "Nose Art” by French phot...
Dubai Culture Announces an Exciting Line-up of Artists for SIKKA Art Fair 2018
Splash receives 2 awards
Arab Duo Showcase Team's Potential in Final Stage of Dubai Tour
RAK Hospital launches the biggest weight-loss challenge in association with MoHA...
UAE Exchange Partners with Ripple for Instant Cross-Border Payments
2XL launches Malmo Bed with floral designs for a vintage shabby chic inspired ma...
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018
Food Lovers Rejoice: Dubai Food Festival Is Back This Month
Mealtop, Introducing a Whole New Dessert Experience
Al Ahli Holding Group to redefine the UAE value shopping category through an AED...
British Orchard Kids Kingdom Nursery wins Sharjah Economic Excellence Network Award
Global Dialogue for Happiness: Bestselling Author Advises Governments to Integra...
WGS 2018: Governments Need to Prioritize Wellbeing of Citizens, Say Internationa...
Under the Patronage and Presence of H.H. Sheikh Saud bin Saqr Al Qasimi, Member ...
Voting for Superbrands 2018 has commenced
The new BMW HP4 RACE arrives at Abu Dhabi Motors – one of just 750 built
The Robots Are Coming: Ministry of Finance Brings Artificial Intelligence to Dub...
Optim-Eyes Lashes & Brows with Filorga
Leading Scientists, Astronauts Share Insights on why Space Exploration Matters a...
WGS 2018 Global Dialogue for Happiness: Australian Expert Underlines Importance ...
Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP
New Report from Accenture and the World Government Summit Finds That Regulators ...
Potential automation of 20 million jobs in the Middle East
ADNOC Schools Team Wins Etihad Artificial Intelligence Competition
Kristoff Secures Fourth as European Champion Edges Closer to a Podium Finish
NEZO launches new identity to guide consumers in selecting the best salt for the...
WGS 2018 Global Dialogue for Happiness: Former Finland PM Discusses Secrets of S...
'Stranger Things' Spring Camp!
UAE launches seed grants to support new research into space settlement & space h...
WGS 2018: Innovation to Propel Dubai into the Next Century
First Ever UAE Race Car Fitted with Immensa 3D Printed Parts
Garbiñe Muguruza Hungry for Success at Dubai Duty Free Tennis Championships
WGS 2018: Governments of the Future Must Work Smartly with Innovation and Technology