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Officials at the signing ceremony in Ajman.

Chinese group secures $136m Ajman mall contract

AJMAN, January 9, 2018

Ajman Holding, a leading property developer, said it has signed up China State Construction Engineering Corporation for the construction and development of its key retail destination, Mirkaaz, in the northern emirate.

Valued at Dh500 million ($136 million), Mirkaaz will be the first mall in the UAE to feature a sprawling atrium roof of more than 7,900 sq m, constructed using ETFE (ethylene tetrafluoroethylene) technology to provide natural ultraviolet (UV) light within the mall besides allowing natural growth for plants, and scenic day/night sky views to all visitors, creating a shopping experience on a whole new level.

Work on the project will start this month and is due for completion in the last quarter of 2019, said the statement from Ajman Holding.

To be built over one million sq ft of land in Ajman, Mirkaaz will host a 15,000-sq-m hypermarket and also encompass more than 100 stores. It is expected to draw more than 10 million visitors in the very first year of its operations, it stated.

The agreement was signed by Yahya Al Jasmi, the managing director of Ajman Holding, and Yu Tao, the president and chief executive of CSCEC in the presence of the company chairman Sheikh Abdulaziz bin Humaid Al Nuaimi.

"It is indeed a pleasure to have CSCEC on board to develop the mall. While this is a major milestone in the life-cycle of the mall, we are confident that CSCEC will deliver the highest standards of quality for shopping and leisure to all UAE residents and visitors," said Al Jasmi.

Mirkaaz, he stated, is in line with the ambitious Ajman 2021 initiative, which will set unprecedented standards for the emirate’s economy.

The construction of the mall will lead to more than 1,100 blue-collared workers and 50 engineers on site, offering direct and indirect job opportunities, stated Al Jasmi.

"With the world's most prestigious retail and dining outlets to be showcased at the mall, the retail industry in Ajman will receive a boost in its GDP growth," remarked the top official.

"Currently, the non-oil sectors recorded a growth of 3.1 per cent last year and will grow to 3.7 per cent in 2018 - reflecting the strength and soundness of the UAE's development policies," he added.-TradeArabia News Service




Tags: Ajman | China | CSCEC | Hypermarket |

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