Set for completion within two years, the upcoming community shopping centre will be located in the Hind City area of the city.
The mall will be developed on a 90,400sq ft plot and will comprise two floors housing 40 retail outlets. Exact details on what to expect inside will be revealed at a later date.
The project has been launched by Dubai’s Endowment and Minors’ Trust Foundation (Awqaf Dubai) in collaboration with Voco Investments, with proceeds generated by the mall supporting mosque affairs across the emirate.
Construction is estimated to cost Dhs50 million on land valued at Dhs23 million, with the aim of serving the community and generating returns for the emirate’s endowment projects.
Ali Mohammed Al Mutawa, Secretary-General of Awqaf Dubai, said the project reflects the foundation’s commitment to developing endowment investments that bring in returns that both maximise the value of its assets and serve the community.
Al Mutawa also emphasised that allocating the proceeds of the project to mosque affairs reinforces the longstanding role of endowments in supporting mosques and meeting their needs.
The project forms part of Awqaf Dubai’s ongoing efforts to develop its endowment assets and strengthen their financial resources through sustainable investments.
