Manazel Malls was established to take up operational and managerial control of The Outlet Capital Mall and all retail areas in Al Reef Community and Al Reef 2 in Abu Dhabi in addition to future retail projects. The new subsidiary ensures that a dedicated professional and experienced team is now responsible for all of Manazel’s retail operations and will drive operational efficiencies and improve performance across this line of business.
The establishment of this new subsidiary supports Manazel’s business strategy with a focus on, not only capitalizing on its expertise in the property space, but also growing non-cyclical revenues through diversification into closely aligned growth sectors. Manazel Malls also strategically provides Manazel with the potential to manage retail assets on behalf of third parties within the UAE and across the wider GCC region.
Al Reef Retail Area
Al Reef Retail provides close to 17,000 community residents located in Al Reef Development with many shopping opportunities that include a supermarket, F&B, and neighborhood services. The retail space which is managed by Manazel Malls is comprised of a Gross Leasable Area of over 8,750 square meters with the majority strategically located in Al Reef Downtown houses. Among the well-known brands currently operating at Al Reef are Select Market, Costa, Royal Orchid, Fast Rent a Car, 800 Pizza & Il Forno, UAE Exchange, Supercare & Al Manara Pharmacy and recently concluded deals include Starbucks, Ibn Sina Medical Centre & National Bank of Fujairah.
Over the course of the year we have focused on speeding up the leasing process to reach a status of 100% operation in the majority of the retail spaces. Manazel Malls will continue in 2017 in developing additional space within the community to provide unique retail components. Additionally Al Reef Community Management Office will continue to regularly hold events and activations to elevate the spirit of the community residents while at the same time enhancing the sales of existing retailers.
The Outlet Capital Mall
Located in Mohamed Bin Zayed close to Abu Dhabi “The Outlet Capital Mall” will be offering Mohamed Bin Zayed’s 85,000 residents as well as the people who live within a 30 minute drive estimated at 1.6 million citizens with premium retail space and quality products at a reasonable price.
The mall covers a total of 60,578 square meters of Gross Leasable Area, offering 296 retail units; current operating stores include several well-known brands such as Lulu Hypermarket, UAE exchange, Malabar Gold & Diamonds, Il Forno, Dr. Nutrition, Springfield, The Face Shop, Giordano, Papa Murphy’s Pizza, McDonald’s, Subway, Popeye’s, Baskin Robbins, Second Cup, Bin Sina Pharmacy, Action Zon & Etisalat. The mall also recently signed with a local bank. The mall offers customers easy accessibility with a three-story, 3,000 parking space complex and a wide retail and F&B variety across its stores.
Over the course of the year Manazel Malls will be focusing on ramping up the leasing progress and expediting fit out of leased shops in order to reach highest level of operational capacity. The company will also focus on re-branding the Mall’s new identity in partnership with other external parties. The company has partnered with “Macarthur+Company” who will bring in their practical know-how and experienced consultants in the field of retail management and marketing in order to provide great returns for investors and profitable sales for retailers, in addition to proper planning and provision of leasing services and consultancy relating to operations. This will help the company as we focus on re-branding the Mall’s new identity which will be done through holding various events consistently for the mall’s visitors working towards its goal of becoming a Destination Mall.