Press Release

Sunday 18th December, 2005

ALDAR Properties takes over management of Al Jimi Mall, Al Ain

Al Jimi Set to Become Retail and Entertainment Centre for the UAE’s Eastern Region

ALDAR Properties PJSC today announced that it has taken over the ownership and management of the Al Jimi Mall, under a lease with Abu Dhabi Government.

Commenting on this latest development in Al Jimi’s history, Chairman of ALDAR Properties Ahmed Ali Al Sayegh said: "Al Jimi Mall is an important asset for Al Ain. ALDAR Properties is delighted to now take full responsibility for its growth and success in the years to come. It is already a popular destination - there are plans in place to ensure that the Mall continues to innovate, surprise and excite customers in the immediate vicinity and across the Eastern Region."

Al Jimi Mall has been an outstanding success story since its opening four years ago. Lying within an immediate catchment area of over 425,000 people, it already attracts over six million visitors a year. With its current and future expansion plans, Al Jimi is set to become the Retail and Entertainment Centre for the entire Eastern Region.

Working closely with the local authorities, ALDAR is consistently improving the retail offer, creating a destination of choice for the residents of and visitors to Al Ain. An East Wing expansion is now complete with tenants poised to begin shopfitting for an opening in early 2006.

This expansion has added 27,000 square metres of new retail offering over two floors including premium brand fashion, cosmetics, jewellery and perfumes on the ground floor and terraced cafes and restaurants on the first floor.

Plans are already well underway for a 19,000 square metre West Wing expansion. Al Faraa General Contracting will begin construction early in 2006.
The West Wing will add greatly to Al Jimi’s entertainment offering with a multi screen cinema, children’s play area and youth and lifestyle brands. Adel Beraiki, ALDAR’s Sales and Leasing Director, commented: "ALDAR’s plans for Al Jimi are attracting a lot of interest from potential retailers and entertainment providers looking for a foothold in this area of the UAE."

"We look forward to announcing some exciting names in the not too distant future which will dramatically increase the offering for consumers at all age levels."