Aldar Finalises Major 23 Store Lease Agreement with Apparel Group

Abu Dhabi - UAE, June 23, 2019: Aldar Properties PJSC  ("Aldar") retail portfolio, has finalised a major agreement with the global fashion and lifestyle retail conglomerate, Apparel Group, for 23 stores across three of its popular retail malls, Yas Mall and The Mall at World Trade Centre (The Mall at WTCAD), in Abu Dhabi, and Al Jimi Mall in Al Ain. Representing international brands such as Aldo, Inglot, Tommy Hilfiger, Charles & Keith, Call it Spring, TOMS, Athlete's Co., Skechers, Birkenstock, Dune, Nine West, Anne Klein, amongst others, the first of the 23 stores opened on the 26th May. The deal, a strong confidence indicator for Abu Dhabi's retail sector, represents over 100,000 square feet of retail space across the three malls. Speaking about the agreement, Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties, said: "We are delighted to welcome 23 new Apparel Group stores, occupying 100,000 square foot of space, to our flagship malls across Abu Dhabi. This agreement represents a solid investment and reaffirms the confidence in our mall destinations to deliver quality footfall and positive future growth. Our relationship with Apparel Group spans many years and their incredible selection of international brands consistently draws visitors to our world-class retail properties.

This further expansion of Apparel brand stores across Aldar's portfolio of retail properties, is great news for all of our visitors and great news for Abu Dhabi, as we continue to elevate our offering for residents and visitors." Mr. Nilesh Ved, CEO, Apparel Group, said: "Apparel Group manages and operates some of the world's best-known brands in the region and as such, we are selective about the locations we choose for them. We consider Aldar to be a strong strategic partner to secure a successful future for our brands. We also feel that these three flagship properties are well aligned with our long-term goals. We have great confidence in the Abu Dhabi market and with Aldar retail properties." With a proven track record of introducing first-to-market retail brands, Apparel Group, with the new lease agreement with Aldar retail properties, has opened the first ever UAE store of CCC, the Polish multi-brand footwear destination, at The Mall WTCAD, as well as the first ever store for the Polish kids fashion brand, SMYK, at Al Jimi Mall, Al Ain. Another first will be the opening of Rituals Cosmetics stores in both Yas Mall and The Mall WTCAD. The Rituals Cosmetics brand is the first brand in the world to combine home and body cosmetics, from luxury body and facial creams to precious mineral make-up, scented candles, pure tea and Soulwear. The new Apparel brand additions will further strengthen the existing retail offerings available to Abu Dhabi visitors, which currently include R&B, the Group's most popular fashion retailer which offers quality clothing at affordable prices, along with ALDO, the worldwide destination for on-trend fashion footwear and accessories at accessible prices. Similarly, Apparel Group's home-grown brand, The Shoe Gallery, at Yas Mall, which is the largest footwear store in Abu Dhabi, is home to international brands such as Skechers, Charles & Keith, Crocs, Dune London, Skechers, Naturalizer, TOMS to name but a few. interactions."