#Aldar General News
March 09, 2016
Aldar Awards AED 318 Million Contract For Al Jimi Mall Extension
Abu Dhabi - UAE, March 9, 2016: Aldar Properties PJSC ('Aldar'), Abu Dhabi's leading listed property development, investment and management company, has awarded an AED 318m contract for Al Jimi Mall's refurbishment and expansion works to Pivot Construction Company.
This investment is the latest component of Aldar's recently announced AED 3 billion investment strategy. Al Jimi Mall remains a key retail asset in Al Ain. It is currently fully occupied with footfall of 8 million visitors a year and this investment will bring new retailers to Al Ain as well as enhancing the overall shopping experience.
This Aldar investment will add an additional leased space of 33,000 sqm GLA bringing the total leased area to 76,000 sqm of retail space; more than fifty percent of this new space is already committed to new tenants excited to operate at the popular Mall. The project will include an expansion to the west side of the Mall; the 'West Wing' adding 51 new units over three levels. This will provide additional retail space as well as new dining and entertainment outlets to increase number of visitors at Al Jimi Mall and reinforce its position as a modern shopping destination in Al Ain.
An expansion to the north side of the Mall; the 'Retail Park' will consist of three huge Retail Boxes with sizes range from 1,500 meters to 6,500 sqm designed in a flexible way to accommodate different retailers' area requirements, family dining and coffee shops, an event plaza and a front-door on grade parking for more than a thousand additional cars.
The project will also include a refurbishment for the existing Mall, including entrances, public spaces, canopies, flooring, toilets, food court and sightlines.
Talal Al Dhiyebi, Chief Development Officer at Aldar Properties, commented: "With the renewal programme, we aim to catch up to with the very strong consumer demand Al Jimi Mall is enjoying. This initiative demonstrates our commitment to offering visitors a memorable shopping and entertainment experience, one that perfectly resonates the 15 years heritage of the mall and sets a new benchmark in both design and retail mix."
The expansion work will be completed by end of the first quarter of 2018.