Leasable area at Manar Mall to double in Q3 2016
Following completion of $62.6m expansion works in Q3 2016, net leasable area at Ras Al Khaimah's Manar Mall will be doubled to 60,000sqm, developer says
Al Hamra Real Estate Development, the firm behind Ras Al Khaimah's 30,000sqm Manar Mall, recently announced updates about construction progress on the project.
The mall is currently undergoing expansion works worth $62.6m, which started on 16 April, 2015. The new development features a waterfront retail promenade overlooking local mangroves, and a new entertainment centre.
Barry Ebrahimy, head of commercial at Al Hamra said the expansion continues to generate interest from tenants looking to take advantage of the upcoming new space. Demand for existing retail space is also high, he claimed.
“We have continued to receive large volumes of enquiries about the mall," Ebrahimy said.
"Some of those came from major global fashion brands, and discussions on the enquiries are ongoing. We are also pleased with how are plans are coming together in terms of ensuring space left by tenants moving to the promenade is filled,” he added.
The expansion and refurbishment of Manar Mall was designed by Cadiz International, with Shankland Cox appointed as lead consultants. Following completion of the project, scheduled for the third quarter of 2016, net leasable area at the mall will be doubled to 60,000sqm.