EMKE Group wins management rights of Madinat Zayed Shopping Center.
Line Investment and Properties LLC, the exclusive mall management division of EMKE Group has been awarded the management rights of the prestigious Madinat Zayed Shopping Centre & Gold Souk. The agreement to this effect was inked by H.E Jouan Salem Dhaheri, Chairman of Abu Dhabi Municipality and Mr. Yusuffali M.A, Managing director of EMKE Group, at a function held at Abu Dhabi Municipality.
Commenting on this remarkable achievement, Mr. Yusuffali said “We feel honored to be awarded the contract for managing this AED 800 million shopping center by authorities and will make sure that this becomes one of the most favoured shopping and leisure destination. For all the residents and visitors alike. We have already commissioned M/s. White Young Emirates as consultant for renovation and face lifting to bring in the most modern international standards and amenities. The work to this effect will start soon at a cost of Dhs. 150 million. ”
Apart from renovating the existing structure, plans are also afoot for adding more than 250,000 sq. ft. space to accommodate a world-class hypermarket, family entertainment and amusement center, a multi-cuisine food court, etc.
“Line Investment and Properties LLC will be in charge of the leasing and management of the renamed Madinat Zayed Mall” added Mr. Yusuffali.
Line Investment and Properties LLC will be opening their 3 new projects i.e Khalidiyah Mall, Al Wahda Mall and Al Raha Mall in the first half of 2007 at Abu Dhabi. Other ongoing projects include mega shopping malls in Riyadh, Dammam, Jeddah, Bahrain, Muscat, Doha and India.
“The entire world is now looking, with greater interest at Abu Dhabi as one of the best investment friendly market in this region thanks to the booming economic development in the real estate, tourism, aviation and leisure sectors. And we plan to strongly contribute to this growth by launching many more new projects in the emirate at an investment of more than one billion dirhams”, concluded Mr. Yusuffali.