Abu-Dhabi based Aldar Properties (Aldar) has announced the successful redevelopment of Al Hamra Mall in Ras Al Khaimah. This project elevates the mall’s role as a premier destination for shopping and dining in the emirate and is part of Aldar’s AED1 billion ($272.25 million) investment initiative in significant retail locations.
Innovative redevelopment features
Located in the vibrant Al Hamra Village, the comprehensive redevelopment includes a total transformation of both the mall’s exterior anad interior. A standout feature is the innovative Central Atrium, which beautifully merges natural light with contemporary design. This area is tailored for service-to-table dining experiences and serves as a versatile venue for events and activations, becoming a lively centerpiece of the mall.
Commitment to community and growth
Saoud Khoory, chief retail officer at Aldar Investment, expressed enthusiasm regarding the project’s completion, stating that they were thrilled to present the newly upgraded Al Hamra Mall, which embodies Aldar’s commitment to crafting vibrant, world-class destinations that meet the dynamic needs of their customers. He noted that as Ras Al Khaimah evolves into a key hub for hospitality, tourism, and living, this revamped retail environment strengthens their dedication to enhancing community experiences and delivering lasting value in the emirate.
Premier shopping destination
Al Hamra Mall now features a diverse array of local and international brands, with over 130 retail outlets and dining options, including 37 new market entrants.
The redevelopment not only creates a seamless blend of experiences for visitors but also solidifies Al Hamra Mall as the premier shopping destination in the Northern Emirates. It emphasizes Aldar’s commitment to improving the efficiency of its retail assets by utilizing its advanced asset management skills to enhance the customer journey and boost operational performance.
Exclusive branded residences
In a related venture, Aldar recently partnered with Mandarin Oriental, a prestigious name in luxury hospitality, to introduce the emirate’s first Mandarin Oriental branded residences on Saadiyat Island. These residences, set to launch for purchase later in 2024, will feature 228 luxury homes, showcasing exceptional design and the renowned service that has made Mandarin Oriental a leader in the hospitality sector.
Prime location
Moreover, this exclusive development is nestled within the Saadiyat Cultural District, providing stunning views of the Zayed National Museum’s striking falcon wings. It is conveniently located within walking distance of the Louvre Abu Dhabi, the forthcoming Natural History Museum Abu Dhabi, and the Guggenheim Abu Dhabi. Residents will also benefit from 3,500 square meters of upscale dining along the Zayed National Museum promenade, along with an additional 60,000 square meters of retail, entertainment, and leisure options at the nearby Saadiyat Grove. This prime location ensures easy access to a wealth of cultural experiences complemented by picturesque fountain views.
Strong demand
Talal Al Dhiyebi, CEO of Aldar, highlighted the robust demand from both local and international buyers for premium properties in Abu Dhabi. He noted that this collaboration further enhances the luxury living experience within the Saadiyat Cultural District and emphasized Aldar’s ability to attract globally recognized luxury brands that prioritize service excellence and enrich the overall living experience for residents.
Vibrant destination
Saadiyat Island stands out as a dynamic and sophisticated locale, offering a perfect blend of pristine beaches, luxury resorts, and world-class dining. Renowned for its cultural attractions and breathtaking natural beauty, it promises an unforgettable experience for those seeking both relaxation and adventure.
Growing market demand
This partnership further coincides with a rising demand for branded residences in Abu Dhabi. Earlier this year, a penthouse within one of Aldar’s branded residential projects on Saadiyat Island achieved a record sale price of AED137 million.
One Maryah Place
Aldar Properties, in collaboration with Mubadala Investment Company, an Abu Dhabi sovereign investor, has also commenced construction on One Maryah Place, a grade A commercial development featuring two towers in Al Maryah Island, Abu Dhabi’s leading business and lifestyle hub.
Located within the Abu Dhabi Global Market (ADGM), this project aims to expand the free zone’s commercial space in response to the increasing demand from global corporations and financial institutions.
Furthermore, upon completion, One Maryah Place will become part of Aldar’s portfolio of income-generating real estate assets, which are valued at AED27 billion.
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