The Abu Dhabi-based Aldar Properties is planning on targeting Al Ain’s business environment to expand its portfolio in the retail sector, given the emirate’s prosperous business environment, Trade Arabia reported.
The population of Al Ain is expected to triple over the course of 20 years, and accompanied by a fast-growing retail sector, retail space will likely increase to 1,115 square meters per resident, according to Urban Planning Council’s ‘Plan Al Ain 2030’, Aldar remarked.
Aldar’s main development projects include Al Jimi Mall, Shabhat Plaza, Remal Mall and Oyoun Village.
“Al Ain is traditionally known for its natural heritage, and the unique lifestyle it offers residents. The growing retail sector is supporting evidence of how the city is evolving to become a cultural and community hub. At Aldar, our ambition in Al Ain is to complement the existing entertainment and lifestyle amenities in the city to offer visitors a memorable shopping and leisure experience,” Chief Development Officer at Aldar Properties, Talal Al Dhiyebi said, according to Gulf News.
“Aldar retail assets are serving the needs of the people of the UAE, including Al Ain. Our existing retail assets in the city are part of our strategy to further diversify our investment portfolio and grow our recurring revenue assets,” he continued.