Asset management firm Merex Investment has appointed ARCO Turnkey Solutions as the lead contractor for J1 Beach at La Mer, its flagship beach resort destination coming up in the heart of Jumeirah, Dubai.
Merex Investment is a joint venture between Dubai Holding and Brookfield Asset Management set up in 2019 with a focus on creating long-term value for Dubai’s residents and business community. It owns and operates a diversified portfolio of retail assets, including The Beach, City Walk, and La Mer, that span over two million square feet hosting more than 550 retail, leisure, and entertainment tenants.
According to Merex, the planned redevelopment of La Mer into a beachfront, resort destination reflects its strategic focus on creating enduring value through identifying market opportunities and reshaping their offering to fulfil customer needs.
Set to be the next must-visit destination in Dubai, J1 Beach at La Mer will feature an impressive selection of high-end dining options and scenic beachfront experiences, it stated. The first phase of the leasing process for this 500m-long destination is now more than 90 per cent complete, with 10 new concepts already confirmed for its grand opening, it added.
“Our vision for J1 Beach is to create a must-visit destination at Dubai. Along with our unique tenants, we are building a cohesive customer experience. Our partners at ARCO Turnkey Solutions are on track to bring to life this vision with smart design and efficient construction,” remarked its CEO Shahram Shamsaee.