Asteco appointed as sole leasing agent for Al Ain Ladies Club

17 March 2015 - UAE-based property management company Asteco is expanding a growing Al Ain portfolio thanks to an instruction by Al Ain Ladies Club to lease a total of 20 retail units within the facility.

Launched in 2014 and located in Markhaniya, Al Ain Ladies Club, developed by Abu Dhabi General Services and operated by Al Ain Cromwell Sport Management, focuses primarily on health and fitness for local women. The club also contains a range of shopping and dining venues and currently offers a variety of premium space for retail opportunities with space starting from 500 square feet and increasing to 3,000 square feet. There are currently 15 units available across all three floors of the centre.

The fitness offering includes a state-of-the-art gym, aerobic studios, sauna and Jacuzzi, an indoor semi-Olympic swimming pool and kids’ pool can all be found in the club. Basketball and squash courts are also available.

In addition to the health and fitness element, the club is also home to 1,000 square metres of salon and spa space, a children’s playground, a 220 seat cinema – the first ladies only cinema in Al Ain, a bowling alley and kids area, 500 square metres of dining space and three separate locations for cafeterias.  The popularity of the centre has already resulted in a number of tenants leasing part of the available space.

“The club which accommodates more than 350 members, is in a prime location and obviously attracts a very distinctive profile of guest. The clientele would naturally lend itself to a range of complementary retail outlets including coffee shops, restaurants as well as fashion and sporting outlets. We envisage this being an extremely popular addition to the existing retail portfolio in Al Ain,” said Tamer Ibrahim Chaaban, Associate Director and General Manager – Al Ain.

“In the last three years the Al Ain retail sector has remained relatively stable, a trend we fully expect to continue throughout 2015. Rental rates are growing steadily, but they are being balanced by new supply, which is helping to maintain market equilibrium,” added Chaaban.

The venue has been designed for health and fitness, shopping, dining and is a retail destination in itself which appeals to both housewives and professional women. The centre will also be environmentally sustainable as part of the emirate’s ongoing 2030 vision.

Asteco has been instrumental in the leasing of many high-profile developments in Al Ain including the United Arab Emirates (UAE) University, the Green Land Complex and the Emirates Complex.