Signature up-market location ideal setting for fashion shoppers; poised to attract heavy footfall
Marka PJSC (DFM: MARKA), the first public joint stock Company focused on the fast growing retail sector in the UAE, today confirmed that it has added Meraas Holding’s City Walk Phase 2 development to its portfolio of retail locations in Dubai. The Company will open Sonia by Sonia Rykiel, Berenice, Essentiel Antwerp, as well as a fourth, affordable luxury brand, at in the later part of 2015.
Chief Executive Officer Nick Peel stated, “We are delighted to announce that Marka will be opening four retail locations in Phase 2 of Meraas Holding’ popular City Walk. It is strategically located and positioned to attract a heavy footfall of highly fashion conscious customers and is the ideal location for our fashion brands, which target the fashion conscious consumer looking for a differentiated shopping experience.”
With Phase 1 of Citywalk covering over 350 meters of uninterrupted retail frontage complemented by a grand tree lined walk designed to evoke the style of European streets, Citywalk presents a sophisticated and unrivalled shopping and dining experience. When complete, the development will contain over 1.3 kilometers of promenade for public enjoyment, and a full range of services including retail, hospitality and family entertainment facilities.
“As Dubai’s retail landscape has matured and expanded, we have witnessed an evolution from traditional malls to more intimate, community focused developments that offer an exclusive, pleasurable shopping experience,” he added. “Meraas’ retails developments have rapidly established themselves as premier shopping and lifestyle destinations – a place where Dubai residents get together.”
The news follows recent announcements that the Company has also secured retail outlets in premium locations including Yas Mall in Abu Dhabi, the Galleria Mall in Dubai and The Beach by Meraas Holding.
Mr. Peel confirmed that Meraas’ innovative approach to retail developments complements Marka’s mission to be the premier retail and hospitality operator in the UAE and across the GCC. The Company is pursuing an ambitious growth strategy with a balanced combination of operating franchise agreements with leading brands and unique hospitality concepts developed with globally renowned partners, and acquisitions.
The Company recently unveiled exclusive franchise agreements for brands such as football superstar Cristiano Ronaldo’s new CR7 Footwear and fashion brands Sonia by Sonia Rykiel, Laurèl, Weill, Berenice and Essentiel Antwerp, with more announcements planned soon.
Marka shares recently commenced trading on 25 September, 2014, making it the first publically traded retail and hospitality focused company on the DFM.
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