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 9443 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
100% Vegan New… Body Yogurts 15 Seconds to Glowing Healthy-looking Skin Spoon It on
Therése Neaimé- Sold to perfection
Linda Paradis brings non-invasive ink removal to Dubai
Timeless Ties
Sony's PXW-Z280, World's first 4K 3-chip Camcorder with new 1/2-type Exmor R CMO...
Martin Hoping for Amstel Gold as Irishman Leads Team to Ardennes Classics
COLAB - Dry Shampoo
Tommy Hilfiger's SS2018 men's and women's watch collection
ORANGE & BERGAMOT Awaken the Cult Icon New Additions
Accessories Collection 2018 Gentleman Attitude
Al-futtaim Names Its New Dubai Lifestyle Mall – ‘Festival Plaza'
Skyline Mega Fitness Challenge Sparked Positivity and Happiness
FOREO delivers the ultimate festival survival kit for a glow-on-the-go.
Samsung launches Exciting Smartphone Trade-In Program with Galaxy S9 or S9+
Summertime Beauty Picks at Glambeaute.com
Enhance skin radiance, smoothness and brightness in just 14 days, with the new J...
Get the best bargains at Dragon Mart's End of Season Clearance Market
Dubai Sports Council Pavilion a big hit at Bangkok SportAccord
Dubai-based Al Kasir Group launches three Crypto assets backed by diamonds
Skyline University College Economics Day 2018: One Step towards Tomorrow
Get Vibrant and lively hair with Rahua's new Color Full Range
A Royal Ramadan Experience by Master Chef Mama in Pullman Dubai Creek City Centre
New XE 300 Sport Edition Wins Gripping Ice Race
New Blow Out Bar and Make-Up Studio SWISH by Immaclife Opens in Abu Dhabi in Apr...
Filorga Mesotherapist Derma Roller
The Perfect Gift Mark
Rolling Cones, a new luxury ice cream concept, launches at the Hyatt Regency Dub...
du to Offer New 9.7-inch iPad With Apple Pencil Support
Finnair to offer a hand baggage only ticket type on selected North Atlantic routes
Abu Dhabi Ship Building Company Launches Two 64-Meter Landing Ships for the Kuwa...
Penny Scallan Design Launches in the Middle East
Mumzworld Announce Recruitment Drive To Empower Women in the Middle East
Sheikh Sultan bin Ahmed Al Qasimi Leads Sharjah Contingent to Kuwait Arab Media Forum
MINI at Auto China Beijing 2018
The new BMW M2 Competition
Genesis G70 Luxury Sedan Arrives in Middle East
Exclusive, Limited‐Edition, Swiss‐Made Cryptocurrency Watches
10 Kg gold for 100 winners at Malabar Gold & Diamonds
Olivia Burton Marble Florals - Embrace these styles for a new artistic way to wo...
Toshiba Releases New, Powerful Surveillance and Video Streaming Internal Consume...
Pandora Shine Discover A New Way to Shine
Lingual Orthodontic Treatment now a reality at Al Mariffa Medical Center
Qualcomm Unveils the Vision Intelligence Platform Purpose-built for IoT Devices ...
Understanding what women want Balmain reveals the Madrigal Mini II
Munich Airport reports record net annual profit of €155 million for 2017
Adamavi - Elegant, Timeles S, and Reliable
Stylish Nursing wear at Mums and Bumps
Airport Show Attracts Influential Aviation Leaders for Global Airport Leaders Fo...
Pandora Spring Embrace Nature's Beauty
Gifts for Ramadan at Hour Choice