Aldar Properties PJSC Finalises 23 Store Lease Agreement with Apparel Group
June 23, 2019
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Aldar Properties PJSC has finalised a major agreement with Apparel Group, for 23 stores across three of its retail malls, Yas Mall and The Mall at World Trade Centre (The Mall at WTCAD), in Abu Dhabi, and Al Jimi Mall in Al Ain. With a proven track record of introducing first-to-market retail brands, Apparel Group, with the new lease agreement with Aldar retail properties, has opened the first ever UAE store of CCC, the Polish multi-brand footwear destination, at The Mall WTCAD, as well as the first ever store for the Polish kids fashion brand, SMYK, at Al Jimi Mall, Al Ain. Another first will be the opening of Rituals Cosmetics stores in both Yas Mall and The Mall WTCAD. The Rituals Cosmetics brand is the first brand in the world to combine home and body cosmetics, from luxury body and facial creams to precious mineral make-up, scented candles, pure tea and Soulwear. The new Apparel brand additions will further strengthen the existing retail offerings available to Abu Dhabi visitors, which currently include R&B, the Group's most popular fashion retailer which offers quality clothing at affordable prices, along with ALDO, the worldwide destination for on-trend fashion footwear and accessories at accessible prices. Similarly, Apparel Group's home-grown brand, The Shoe Gallery, at Yas Mall, which is the largest footwear store in Abu Dhabi, is home to international brands such as Skechers, Charles & Keith, Crocs, Dune London, Skechers, Naturalizer, TOMS to name but a few.
Aldar Properties PJSC is a United Arab Emirates-based real estate development and investment company that undertakes and operates a portfolio of real estate projects in the United Arab Emirates. The Company is engaged, along with its subsidiaries, in the development, sale, investment, construction, management and associated services for real estate. In addition, the Company is also engaged in the development, management and operation of hotels, schools, marinas, golf courses and theme parks. The Companyâs subsidiaries include Al Raha Gardens Property LLC, Al Jimi Mall LLC, Addar Real Estate Services LLC, Al Raha Infrastructure Company LLC and Aldar Academies LLC, among others. During the fiscal year ended on December 31, 2012, the Company acquired additional 50% share in Nareel Island Development Company LLC (Nareel). On June 27, 2013, effective at the close of trading, the Company merged with Sorouh Real Estate Co PJSC.