• Additional outlet locations in major shopping centres and commercial districts to be announced soon
Marka PJSC (“Marka”), the first public joint stock company focused on the fast growing retail sector in the UAE, today announced that the Company will soon be inaugurating its first retail and F&B outlets. The Company is on track to open four outlets in strategic locations in Abu Dhabi and Dubai, and is currently finalising deals to open more outlets in major shopping centres and commercial districts.
Jamal Al Hai, Chairman of Marka, said, “We are pleased to announce that in spite of the shortage of space in shopping malls and other commercial districts that enjoy healthy customer traffic, Marka has successfully secured premium retail locations in Abu Dhabi and Dubai. In addition, we are also in the advanced stages of contract negotiations for additional locations.”
The new outlets will be located in strategic shopping destinations including Yas Mall in Abu Dhabi, Meeras Holding’s The Beach, and the newly opening Galleria Mall in Dubai.
Since incorporating in June, Marka has established a highly skilled management team with international retail experience in fashion, hospitality and luxury brands, under the leadership of Chief Executive Officer, Nick Peel. Peel joined Marka from leading European developer and manager of designer outlets, McArthur Glen, and Arsenal Football Club.
“In addition to signing retail space, we have also succeeded in signing concession contracts with renowned brands in the world of retail and hospitality, in line with our vision to become the premier retail operator in the UAE and across the region.” Al Hai continued saying, “We are fully confident of our ability to position Marka as a leading player in the industry and achieve steady revenue growth, in line with the expectations and aspirations of our shareholders.”
Marka is pursuing an ambitious growth strategy with a balanced combination of acquisitions, franchise agreements with leading brands, as well as developing unique retail concepts with globally renowned partners.
Marka was the DFM’s first retail focused IPO, offering investors the opportunity to benefit from one of the strongest and fastest growing sectors in the UAE. The Company will begin trading on the Dubai Financial Market (DFM) in September.
Copyright © 2019 Marka. All rights reserved.