Dubai PR Network, Online Press Release from Dubai and Middle East
 
Mall, Retail & Hospitality(Real Estate & Retail)
Filter PR by
  
Al Ahli Holding Group to redefine the UAE value shopping category through an AED 1.25 billion Islamic club financing facility for Dubai Outlet Mall expansion
 
Al Ahli Holding Group to redefine the UAE value shopping category through an AED 1.25 billion Islamic club financing facility for Dubai Outlet Mall expansion
  • Dubai Outlet Mall to add 3 million square feet in its expansion
  • Dubai Outlet Mall celebrates 10 years as a premier value-shopping destination as it looks to enhance its leadership in the UAE retail arena 

 Dubai, United Arab Emirates (February 13, 2018):   Seeking to redefine the value shopping space in the UAE retail arena, Al Ahli Holding Group announced a significant development in the Dubai Outlet Mall expansion today. Dubai Outlet Mall secured an Islamic club financing facility worth AED 1.25 billion for the expansion and general corporate purposes. Dubai Outlet Mall is part of the Al Ahli Holding Group, which is a major UAE conglomerate.
 
Dubai Islamic Bank acted as the coordinator, mandated lead arranger, bookrunner, investment agent and security agent for the transaction with Ajman Bank, Al Hilal Bank and Noor Bank participating as financiers in the facility. 
 
The expansion will enhance the position of Dubai Outlet Mall as a favoured retail hotspot for shoppers from all over the UAE and the GCC. Through a huge selection of global brands, family entertainment and dining options, the expansion will make Dubai Outlet Mall shopping a memorable experience for visitors. 
 
Dubai Outlet Mall pioneered the Outlet Shopping category a decade ago when it entered the UAE retail market.  

Scheduled to open in the fourth quarter of 2019, the expansion of Dubai Outlet Mall will see 3 million square feet added to the existing 1.1 million square feet of built up area; making Dubai Outlet Mall one of the largest outlet malls in the world. There will be a mix of hypermarket, cinemas and multiple levels of ambient lifestyle-focused retail and dining options.

 On the occasion, Mohammed Khammas, CEO of Al Ahli Holding Group, said: “Securing a finance facility from leading banks like Dubai Islamic Bank, Ajman Bank, Al Hilal Bank and Noor Bank is a significant testament to the confidence in the project and Al Ahli Holding Group capabilities. This move and the eventual expansion of Dubai Outlet Mall also marks our intent to set new industry standards in the value shopping space; meeting customer expectations and enhancing our position as an industry leader.”
 
Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, said: “We are pleased to be associated with the Dubai Outlet Mall expansion which will position it on a strong growth trajectory while being a distinctive addition to Dubai’s retail offering. As the largest Islamic Bank in the UAE, Dubai Islamic Bank has been actively involved in supporting the development of the retail sector in the country, and coordinating the financing of this project further cements our commitment to the sector.”

 Mr. Mohamed Amiri, CEO of Ajman Bank, said, “We at Ajman Bank are delighted to have partnered with Al Ahli Holding Group for financing the expansion of Dubai Outlet Mall which is one of the most trusted and premium retail destinations in the region. This agreement is a true reflection of Ajman bank’s focus and keenness of the bank to support the retail sector by financing specific development projects that creates compelling new retail and lifestyle experiences and supports the city's growth outlook of further strengthening its core economic sectors, including retail, tourism and hospitality. The tie-up reflects Ajman Bank’s commitment to ensure that its customers’ needs are met optimally and is in line with its objective to offer compelling new retail and lifestyle experiences while supporting prestigious developments in the buoyant retail sector.”

Alex Coelho, CEO of Al Hilal Bank, commented: “Ranking 5th in the global retail index, the UAE continues to reinforce its position on the global economic map. Dubai Outlet Mall has always been an appealing platform for local, regional and international retailers, attracting large numbers of tourists and shopping enthusiasts. At Al Hilal Bank we strongly believe that the expansion will further strengthen the mall’s value proposition.  Our collaboration on this project is in line with our objective of contributing towards the UAE’s economic diversification. We look forward to partner with Al Ahli Holding Group to deliver yet another success story in the UAE.” 

John Iossifidis, CEO of Noor Bank, said: “We are proud to collaborate with Al Ahli Holding Group as well as our partner banks to fund the expansion of Dubai Outlet Mall. The financing facility is a strong endorsement of our proven ability to provide targeted and comprehensive Shari’a-compliant financial solutions that meet our clients’ strategic objectives. Furthermore, our support for one of the UAE’s prime retail destinations reinforces our unwavering commitment to contribute to the development of the country’s thriving retail sector.”

In addition to these new developments, Dubai Outlet Mall also celebrated the prominent milestone of its 10 year anniversary with a wide variety of activities to reward shoppers ranging from chances for visitors to get into a draw to win a Mediterranean cruise or concert tickets to the Ed Sheeran show, unbeatable bargains with amazing offers, offering free makeovers to shoppers etc. Various activations to create excitement were also conducted with fitness related group activities for visitors to enjoy along with a cooking demo for family and kids among others.


Posted by : Dubai PR Network Editorial Team
Viewed 11639 times
PR Category : Real Estate & Retail
Posted on : Tuesday, February 13, 2018  10:06:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Robinsons Honored for Outstanding Store Design
Next Story : A Gift for Everyone on SOUQ.com's Valentine's Day Gift Shop
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Mouawad Acquires The 51.38 Carat Dynasty Diamond From ALROSA [17403-Views]
Cerruti 1881 MOLVENO timepiece and cufflinks [13286-Views]
Nazih Introduces New Dr. Renaud Skincare Range [8601-Views]
Five Awesome Reasons to Visit LEGOLAND® Dubai During the Eid Al Adha Holiday [8546-Views]
Back-to-School Shopping Made Easy with SOUQ.com [8442-Views]
Business Wear by Hugo Boss [7564-Views]
The new Rado HyperChrome Chronograph in bronze and high-tech ceramic [7393-Views]
Head to Modhesh World for Summer Fun Before the School Run [7387-Views]
Spectacular live entertainment for the entire family at Majid Al Futtaim malls in the UAE ... [7033-Views]
Never Run Out of Space for Those Joyful Summer Holiday Memories With Western Digital [6917-Views]
Eid Gift Guide 2018 [6887-Views]
Eberhard & Co. immortalizes a legend [6411-Views]
Trend Alert! Clueless About Plaid? kate spade Found Fresh Ways to Showcase the Gorgeous Pr... [6259-Views]
New Addition to the HUAWEI Nova 3 Series: On-trend and fashionable HUAWEI nova 3i now on s... [6039-Views]
The Marriott International cyclist team completes 600km R2A cycle challenge [5893-Views]
The Moon Collection From Lacoste [5826-Views]
OMEGA Showcases its Passion for Golf at the 2018 PGA Championship [5697-Views]
American Eagle Takes It to the Ne(X)t Level With Fall Jeans Campaign [5624-Views]
Calligraphy, etching and Palestinian embroidery: Learn it all at Tashkeel this September [5325-Views]
Samsung Launches the Galaxy Note9 in the UAE [5020-Views]
XTouch Announces the Launch of the Robot Family Range of Rugged Mobile Phones [4929-Views]
Why Are Chipmakers Making Smaller and Smaller Processors? [4831-Views]
du LaLiga HPC Top Talents Arrive in Spain for 21-day Annual Scouting Camp [4624-Views]
Aperitivo di Ferragosto [4538-Views]
Let your kids enjoy some dancing at James & Alex Dance Studios [4459-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories