The government real estate arm Edamah has presented an array of proposals to restore the landmark Lulu Shopping Centre in Manama.
The proposals presented incorporate a three-stage plan, that is likely to cost millions of dinars, is being put forward to revamp one of Bahrain’s oldest shopping complexes that has fallen into decline. The strategies – discussed at a recent Capital Board of Trustees meeting – focused on better housekeeping, infrastructure development and promotion to attract visitors.
The structure, in the heart of Manama, opened with much fanfare in 1997 under the Capital Municipality. However, the complex, featuring supermarkets and retail shops, has been accumulating debts with declining sales and footfall over recent years.
“The tenants have been struggling with the weakening business climate, which led to a decline in sales and an accumulation of debt and financial claims,” said Waleed Adel Ali, Edamah Property Management Company General Manager, in a high-level joint presentation with Dr Fahad Al Saad, Head of Business Development. “Edamah is proposing ways to maximise its operations and utilise the space.”
The 12,721sq m mall, which is centrally-located within close proximity to Bab Al Bahrain and the Central Market, has a tenancy mix consisting of a supermarket, retail shops, kiosks and offices occupying 85 per cent of the space. It has 99 occupied units while 29 remain vacant. It also has a parking lot that can accommodate up to 300 vehicles.
