The UAE’s retail sector investments is witnessing a new trend that cash rich retailers are opening shopping malls rather than supermarkets or hypermarkets in larger areas to accommodate more customers and increase footfall.
The latest to join the bandwagon is AINS Madina Group, which is opening a new shopping mall in the Ajman emirate of the UAE on December 30, 2021.
The 60,000 sq ft Madina Mall will have many shop in shops and a retail hypermarket Ainas Al Madina Hypermarket.
“The mall concept is fast catching up. We are moving ahead with the new trend in retail shopping sector as we have been able to change the perception of shopping from supermarkets or hypermarkets to shopping malls,” said Abdul Latheef OK, Chairman, AINS Group.
The initial investment is AED30 million, from internal accruals, he said.
The promoters claim that the new mall will offer a new shopping experience to customers with attractive discounts for a wide range of brands.
The UAE is fast recovering from the Pandemic and there is growth in all sectors, particularly in retail. This prompts us to invest further in this market as the outlook is quite rosy for the years to come,” he said.
The group is also looking to expand to other emirates, particularly Dubai.
AINS group has interest in other sectors like real estate development, IT services and electronics retailing.