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| | The !..:Bazaar Fundas:...! Network is not currently active and cannot accept new posts | | 81% of retail space sold at Mall of Arabia | Views: 874 | | Mar 23, 2007 8:48 pm | | 81% of retail space sold at Mall of Arabia | # | 
Tribal Route | | 81% of retail space sold at Mall of Arabia
By Robert Ditcham, Staff Reporter
Dubai: Mall of Arabia, the main retail component of the $2 billion City of Arabia project, has leased out 81 per cent of the four million square feet of retail space in the development's first phase, according to officials.
Scheduled to open in 2009, the project will eventually offer 10 million square feet of retail space and more than 1,000 retail outlets in the combined first and second phases, as well as 10,000 car parking spaces.
Elyas Galadari, chairman of City of Arabia, told Gulf News that the Landmark Group, which runs brands including Home Centre, Shoe Mart and Baby Shop, has made the largest commitment of any single retailer.
"So far 81 per cent of the GLA in phase one is committed and leased. We are keeping some space in reserve for new brands," said Galadari.
Mall of Arabia will also be the location of the world's biggest Virgin Megastore, according to the Azadea Group, which runs the music and electronics chain in the Middle East.
At 70,000 square feet, the store will edge out Virgin Megastore's outlet on the Champs Elysee, Paris."We are very confident about the success of this mall. It is set to become the entertainment magnet of Dubai," said Hassan Daher, Azadea Group's managing director.
Daher said Azadea Group will bring more than 30 brands to Mall of Arabia, which include major fashion brand Mango, Spanish retailer Zara and Sunglass Hut. Among the brands, 15 will be completely new to the UAE, he said.
Dominate
"Azadea Group will invest $30 million in the fittings alone of these stores in Mall of Arabia," said Daher.
The Lebanon-based retailer currently runs 68 stores in the UAE - a figure set to rise to 190 by the end of 2009. Of its entire store presence, 40 per cent are located in the UAE. Virgin Megastore and Zara are the company's leading brands for sales volume, while Bershka and Sunglass Hut are leading for sales growth, said Daher.
"In the future we would like to add more fashion brands, which will dominate our portfolio, as well as diversifying into consumer electronics," he said.
http://archive.gulfnews.com/articles/07/03/20/10112194.html
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