Royal Star completes $830m mall in Iran
Shiraz, Iran, June 21, 2011
Royal Star International, a UAE-based specialist in the development of multiplexes and shopping malls, has completed a $830 million shopping mall project in Shiraz, Iran.
The Fars Shopping Complex will be the world’s biggest mall in terms of the number of shops in one complex, offering 2,500 shops for lease upon its opening in September, a statement said.
It will also be the world’s fourth biggest mall in terms of total area stretching out to around 420,000 sq m, closely following the Dubai Mall.
The landmark development is the crown jewel in Royal Star’s current project portfolio and strongly demonstrates the company’s continuous growth with over USD 1.5 billion in assets and equities reported in 2010.
The project will also house a luxurious five-star hotel, an amusement park and world-class exhibition and convention centres.
The project has been constructed on a 150,000 sq m plot of land in Sadra, Shiraz, and is currently being prepped for the official opening in September this year.
Royal Star said that the complex will house a 14,000 sq m Carrefour Hypermarket; six 240-seat capacity cinemas that will offer the most modern 2D, 3D, and 4D screening equipment; an indoor amusement park; a 28,800 sq m arcade offering interactive video games, bowling alleys and a three-storey billiard hall; and a four-storey parking area that can accommodate 5,500 cars.
One of the main attractions of the new complex is a large outdoor amusement park called Iran Land, which will feature state-of-the-art thrilling roller coaster rides.
“Royal Star is thrilled with the launch of this world class project. Not only will this mall be the world’s largest in terms of retail space but will also put Shiraz in the spotlight as one of the emerging destinations in the Middle East region,” said Hamzah Abu Zannad, director of operations, Royal Star.
“The Fars Shopping Complex, which will house renowned global brands and fashion labels, will also include indoor and outdoor dining facilities offering the best of local, regional and international cuisine.”
“The mall, which will also boast an interactive entertainment arcade, could go a long way in enhancing international and local tourism within the country, and is a testament to our growing commitment to provide the region with world class projects,” he added.
The Burj Fars Hotel, a luxurious five star hotel, is set to be located at one end of the mall and is scheduled for opening towards the end of 2012. Currently, the super structure of the tower has been completed and is undergoing the internal fit out phase in accord with the 5 star international Standard Ratings.
“The ‘Fars Shopping Complex ably reflects our growth over the last few years and clearly shows our leadership in the development and creation of world class facilities,” Abu Zannad said.
“Aside from building malls, Royal Star has successfully expanded its operations to other industry segments like contracting, banking and finance, food and beverage, hospitality, retail, and exhibitions and convention centres.”
“Our ventures into the region's key areas of development complement our vision and mission to be an iconic brand that continuously applies innovative strategies that have been designed to give our customers the ultimate magical experience,” he concluded. – TradeArabia News Service