Yas Mall’s landscape became a little bit clearer after one of the region’s biggest retailers, Alshaya Group, yesterday announced the 42 stand-alone brands it would bring to the capital’s newest mall.
The group said its investment would create 2,000 jobs, mainly sales assistants and would represent Alshaya’s single biggest opening on one day, it said, but declined to give the exact day. The 235,00 square-metre mall will open before the Formula 1 weekend on November 21st.
The mall will feature 400 shops from 370 brands, said Talal Al Dhiyebi, the executive director of asset management at Aldar Properties, the operator.
Industry sources said that Alshaya, which operates 2,600 stores across the Middle East and North Africa, Russia, Turkey and Europe, has up to 15 more brands within Yas Mall’s department stores. Out of the 42 outlets the retailer listed yesterday, Pottery Barn Teen and Icing are the first in the country. The fashion brands Muji, West Elm, Jo Malone and River Island will be the capital’s first stores.
F&B outlets such as Texas Roadhouse and The Cheesecake Factory will also operate in Abu Dhabi for the first time.
The mall is expecting 20 million visitors in its first year, bringing in more than 50,000 people a day, and Aldar is banking on a 15 per cent to 20 per cent annual increase in retail sales across the UAE to sustain business.
“There is a lot of resident population around us with massive communities,” said Mr Al Dhiyebi.
“At Al Raha Beach Aldar has over 3,000 residential units that are over 97 per cent occupied. In Khalifa City we have again 4,000 to 5,000 residential units, which are again nearly totally occupied. These residential communities will be supporting us significantly through the week. Our tourist numbers are growing and we are part of the 2030 vision. ”
Attractions will include a 20-screen Vox cinema, the region’s largest department store at 200,000 square feet, an “edutainment” concept store, direct access to the Ferrari World theme park and the country’s first Lego concept store.
For the second quarter of this year Aldar reported net profit of Dh506m, driven by unit handovers and a 45 per cent growth in recurring revenues across its property portfolio, including a faster-than-expected lease-up at its Al Rayyana development.
ascott@thenational.ae
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Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
- Stay invested: Time in the market, not timing the market, is critical to long-term gains.
- Rational thinking: Breathe and avoid emotional decision-making; let logic and planning guide your actions.
- Strategic patience: Understand why you’re investing and allow time for your strategies to unfold.
The six points:
1. Ministers should be in the field, instead of always at conferences
2. Foreign diplomacy must be left to the Ministry of Foreign Affairs and International Co-operation
3. Emiratisation is a top priority that will have a renewed push behind it
4. The UAE's economy must continue to thrive and grow
5. Complaints from the public must be addressed, not avoided
6. Have hope for the future, what is yet to come is bigger and better than before
Race card
5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; 5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
6pm: Handicap (PA) Dh80,000 (T) 1,400m; 6.30pm: Handicap (PA) Dh80,000 (T) 1,200m
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m
7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Company%20Profile
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The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding