Page 12 - April 2020

middle east news inbrief

KSA REVEALS PLAN TO EXPAND NETWORK GLOBAL RETAILER INKS DEAL FOR

OF NEW ENTERTAINMENT HUBS FLAGSHIP DUBAI STORE WAITROSE OPENS NEW SITE
Waitrose & Partners UAE has opened its
11th store in Dubai’s Motor City community
Saudi Entertainment Ventures Company plans complexes MCM Worldwide have announced a joint - the third largest in the country for the
in Jeddah, Makkah, Madinah, Taif, Yanbu, Al-Kharj, Buraydah, venture with Al Tayer Insignia, the largest British quality grocer. The opening of the
inbrief
Abha and Khamis, Jazan, Al Hamra and Al Nahda, near luxury retailer in the Middle East, marking new store reinforces the company’s ethos of
Riyadh, Dammam, and Al Khobar. the brand’s direct entry to the UAE market. always giving more than it takes - from its
The Saudi Entertainment Ventures Company (Seven) The first store under this joint venture customers, communities and each other.
have announced plans for the expansion of new was a new MCM flagship store that opened
entertainment complexes to prime locations across in the Dubai Mall, Fashion Avenue in March.
the kingdom. MCM is a luxury lifestyle goods and BENGAL SWEETS DOUBLES UP
Established by the Public Investment Fund (PIF) and fashion house and is distributed online Founded by Mayeen Ahsan, Bengal Sweets has
mandated to invest, develop and operate entertainment and in 650 stores worldwide including opened its second outlet in Bahrain. With the
destinations in Saudi Arabia, Seven said the new Munich, Berlin, Zurich, London, Paris, New launch at Al Jazira Supermarket in Zinj, the
complexes will “meet the fast-growing tourism sector York, Hong Kong, Shanghai, Beijing, Seoul outlet is venturing into partnerships with other
and contribute to realising the goals outlined in Saudi and Tokyo. Since its debut into the UAE supermarkets and hypermarkets in the country
Vision 2030”. It added that each complex will feature in 2012, MCM has established a presence and the wider region.
several entertainment and leisure choices including in KSA, Kuwait, Qatar, Bahrain and Egypt,
cinemas, play areas, rides, F&B, and attractions. with flagship’s and shop-in-shops located
in leading malls, as well as the most recent MANUEL MARKET ADDS UNIT
successful partnership with OUNASS. Supermarket chain Manuel Market, a Jeddah-
based supermarket retailer, has opened its first
JEDDAH SET TO SEE LARGE RETAIL branch in Riyadh. The ninth and newest aims
to provide customers a luxurious shopping
EXPANSION IN NEXT FEW YEARS experience, the best service, and the finest
healthy, natural and organic products.

Jeddah’s retail sector is benefitting from office sector have been able to maintain
several new projects and developments, healthy occupancy levels. The consultancy SECOND IKEA TO OPEN IN JULY
adding approximately 40,000sq m of said it has seen a continued increase in A second branch of IKEA in Abu Dhabi is set
gross leasable area (GLA) to the market, flight to quality, with the better quality to open later this year in Al Wahda Mall. The
according to a report by CBRE. accommodation in prime locations seeing 23,000sq ft store will be on the first level of the
CBRE’s H2 2019 Jeddah Market Snapshot the most positive movement, particularly mall. It will feature a showroom along with a sit-
said the Saudi city’s retail sector expects a in locations where flexible lease terms down dining area. The biggest IKEA in the country
further boost with an additional 660,000sq are offered. opened at Festival Plaza in Dubai in December.
m GLA entering the market in 2020-2024, Simon Townsend, Head of Strategic
adding to an existing supply of around 1.46 Advisory at CBRE MENAT and General
million square metres. Manager, CBRE KSA, commented on the SUNSET BUYS STAKE IN BRAND
The report added that the F&B sector overall pipeline, saying: “The kingdom’s real Dubai-based Sunset Hospitality Group has
DUBAI-BASED RETAIL GIANT MAJID AL FUTTAIM HAS ANNOUNCED IT IS ON TRACK TO DELIVER ITS MALL OF OMAN PROJECT EARLY NEXT YEAR. THE MALL HAS REACHED AN IMPORTANT announced it has acquired a minority share in the
MILESTONE AFTER SIGNING A DEAL WITH RETAIL GIANT APPAREL GROUP. THE GLOBAL CONGLOMERATE WILL BRING A HOST OF FASHION, LIFESTYLE AND F&B BRANDS TO THE MALL IN has also witnessed continued growth, with estate sector remains to be one of key
ANTICIPATION OF ITS MARCH 2021 OPENING. MALL OF OMAN, MAJID AL FUTTAIM’S FIFTH AND BIGGEST LIFESTYLE DESTINATION IN THE SULTANATA, WILL HAVE 145,000SQ M OF RETAIL an influx of international and local brands drivers of economic development and one Black Tap brand, the American eatery known for
SPACE, DINING OUTLETS AND A RANGE OF LIFESTYLE EXPERIENCES. THE MALL WILL ALSO INCLUDE OMAN’S LARGEST VOX CINEMAS, A MAGIC PLANET FEC AND INDOOR SNOW PARK. planning to either establish or expand their of the key catalysts for continued growth. its burgers and milkshakes. They added that two
presence in the market. Despite a slight softening in performance, new Black Top outlets will open at The Dubai
CBRE also noted that despite a
FITNESS FIRST TO EXPAND PIXEL TOWERS PROJECT marginal slowdown in business activities, the sector maintains positive sentiment Mall and Mall of the Emirates in the second
quarter of 2020, bringing the total to nine.
across the retail, office, residential and
ACROSS THE GCC TO OPEN IN 2021 key Grade A properties within Jeddah’s hospitality landscape.”

Fitness First Middle East has revealed plans to open 10 new clubs Abu Dhabi-based developer Imkan has announced that the
across the GCC this year. The first of the 10 new clubs is due to open concrete substructure for its seven Pixel Towers project on
this month at Marina Gate, Dubai, and will be the brand’s thirty-third Reem Island has been completed, with three towers launched
club in the UAE and twenty-third in the emirate. to date.
Fitness First, which is owned by the Landmark Group, will also be The developer said the completion of the concrete substructure
opening in Dubai Silicon Oasis and The Meadows; Khalifa City in Abu is an important milestone for the project, which is taking shape
Dhabi; Al Zahia in Sharjah; Ajman City Centre in Ajman; and Oasis at Imkan’s Makers District that aims to become a magnet for
Mall and Bahrain City Centre in Bahrain. Current clubs in Dubai creatives, entrepreneurs and innovators. All seven Pixel Towers PLACEMAKING
Festival City and Sahara Centre in Sharjah will also be relocated with are being built at once, while handed over in a staged phase.
brand and new and improved concept clubs set to replace them. “Pixel has been designed as a first-choice destination amid a
“We’ve received significant backing and funding from our owners vibrant neighbourhood – home to a community of entrepreneurs
to open another ten clubs in the next 12 months, which is a real and those with a millennial mindset,” said Walid El Hindi, CEO of
feather in everyone’s caps, that what we’re doing in the current Imkan Properties. develop...
sector is very popular,” said George Flooks, chief executive officer Once complete, the Pixel development will be home to 525
of Fitness First Middle East, who revealed year-on-year memberships apartments ranging from studios to three-bedroom options as
have increased by 12.5 percent. well as 94 office units and 14 retail outlets.

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