Landmark Group to Roll-Out Nine Retail Outlets at Fujairah City Centre
Press ReleaseApril 4, 2012
Landmark Group, the region's leading retail and hospitality conglomerate, today opened nine stores spread across a total of 79,523 sq. feet of leased space at the Fujairah City Centre,as part of its strategic plan to expand its retail footprint.
One of the first shopping, leisure and entertainment destinations in the Emirate, Fujairah City Centre opened on 4 April 2012. Landmark Group's brands such as Centrepoint (Babyshop, Splash, Shoe Mart, Lifestyle and Beautybay) Max, Emax, New Look, Koton, Carpisa, Steve Madden, Candelite cover close to 22 per cent of the retail destination's total gross leasable area (GLA).
VipenSethi, CEO, Landmark Group, said: "The Landmark Group and Majid Al Futtaim share a long-standing and fruitful relationship that dates back to many years and expands across the UAE and wider GCC region. We are excited to open some of our key retail stores at the Fujairah City Centre. Our brands will contribute to 22 per cent of the mall area, strengthening our portfolio of outlets in the Emirate.
"We are confident that our retail offering will match the expectations of the customers. The prospects of retailing in Fujairah are promising. The increasing residential and tourism developments within the Emirate will contribute to its growth making Fujairah City Centre one of the key shopping destinations for the Northern Emirates."
Landmark Group pursues a structured expansion and diversification strategy. During the 90s, its geographical reach extended into the entire GCC region. In 1990, the Group forayed into the Indian retail industry with the Lifestyle department stores. Over the last decade, the Landmark Group has expanded its footprint in the Middle East and North Africa (MENA) region with its entry into Egypt, Turkey and Lebanon. It has also built a presence in Jordan, Yemen and Pakistan. The Group additionally ventured into Kenya in September 2011 and Nigeria & Libya in February 2012.
Fujairah City Centre isset to host over 105 value and mid-market brands with 85 per cent of the brands marking their entry into Fujairah through the mall. Located at the intersection of the new Fujairah-Dubai highway and the Masafi Highway, it is developed jointly by the Majid Al Futtaim Group and the government owned Fujairah Investment Establishment at an estimated cost ofAED400 million.
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