Aldar Properties PJSC ("Aldar" or "the Company" ADX: ALDAR), Abu Dhabi's leading listed property development, investment and management company, yesterday announced a new partnership agreement with Retail Arabia, a leading regional retail franchise owner for Yas Mall. The partnership includes a new concept House of Fraser department store spanning 110,000 square feet, the first Hamleys - the oldest and largest toy shop in the world - store in Abu Dhabi, as well as the first Joe Fresh - the international fashion brand - store in the UAE.
Mohammed Al Mubarak, Aldar's Chief Executive Officer commented: "We are very pleased to announce our partnership with Retail Arabia as we continue to bring unique retail experiences to Yas Island and the wider Abu Dhabi retail landscape. We are particularly pleased to see House of Fraser's continued expansion in the UAE and to be the first to market in Abu Dhabi with Hamleys and Joe Fresh demonstrates our commitment to creating the best and most unique shopping experiences for our customers." Nabil Daud, CEO, Retail Arabia International said: "This is a very exciting moment for Retail Arabia and we are delighted to partner with Aldar on what we see as one of the region's most exciting retail projects for some time. The House of Fraser at Yas Mall will give customers a new shopping experience as we roll out our new exciting concept and will be home to a range of international brands launching for the first time in the UAE. The first Hamleys and Joe Fresh stores in Abu Dhabi will also make a big contribution to the existing strong retail mix at Yas Mall." Yas Mall will open with an exciting range of leading international and regional retail and F&B brands, a 20 screen state of the art cinema operated by VOX Cinemas and a family entertainment zone by Funworks. With the completion of Yas Mall, Aldar will become the largest owner and manager of retail space in Abu Dhabi.
Another major department store signing is expected to be announced in the coming weeks.
Source: WAM