Al Manar Mall to spend Dh500m in renovation

Al Manar Mall, one of the first shopping malls in the Northern Emirates, will go in for a total revamp and renovation soon to meet growing competition in the emirate.

Speaking to Emirates Business, Benoy J Kurien, the mall's Manager, said: "Al Manar Mall is the first major shopping mall in Ras Al Khaimah and over the last eight years we have witnessed tremendous growth. Now we are ready for re-development and total renovation and our plan is to invest Dh500 million to re-do the entire mall area.

"As against a single level mall, we will develop a 130,000 square metre area out of which 100,000 sqm will be leasable space. The design of the re-development has been finalised and tenants are asking for more space. The owners have agreed for the renovation project. The mall will be integrated into a new three level mall being planned in the same area."

He said the retail sector in Ras Al Khaimah has not been affected much by the slowdown and the mall has been focusing on Emarati customers. "The demand for retail space in Ras Al Khimah projected in the boom period has disappeared, but there is still scope for new malls as the domestic population is growing. Despite the entry of a couple of new malls in the emirate, Al Manar Mall, which opened in 2000, has witnessed reasonable growth," he said.

Last year, Safeer Mall entered Ras Al Khaimah with a new property, but it is located 20 kilometres away from Al Manar Mall. And more new malls are either in the process of opening or are likely to open in the future. "Now, besides Al Manar Mall, Ras Al Khaimah has Safeer Mall, Al Naeem Mall and RAK Mall. The Emke group, owner of Lulu Centre, is opening a new mall in the emirate as well," said Kurien. "On an average Al Manar Mall has grown about 6.5 per cent, as in the initial years we had to give a lot of incentives to attract tenants. Now our tenants are asking for more retail space."

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