Carrefour to open in Dubailand next year

Dubailand’s first Carrefour hypermarket is expected to open next year.

The French supermarket chain will open at Legends Mall in the Living Legends development promoted by Tanmiyat Group.

About 333,000 square metres of retail space is expected to be added to Dubai next year, up from 267,000 sq metres this year, including the Dragon Mart expansion.


Rents are expected to remain stable, as are vacancy rates as “demand from retailers and new brands entering the market continues to be strong”, according to the property broker JLL.

The first phase of Living Legends, a mixed-use residential project with 150 villas, is expected to be handed over this quarter.

When completed, the project will have 500 villas and 2,400 apartments.

Villas at the development are selling from Dh2.5 million on property websites.

Legends Mall will house 158 stores and a cinema.

Located close to Global Village, the Dh580m development will also include a club house, a boutique hotel, schools, clinics and a nine-hole golf course over 14 million sq feet.

Scheduled to open at the end of next year, the mall is expected to be fully rented out by the beginning of the year.

“We are holding roadshows in London and Moscow and will soon be in India and New York, and we are targeting organic food, natural products and wellness concepts,” said Saleh Tabekh, the chief executive of Dubai-based Delta International Real Estate.

First announced in 2003, the Dubailand development was hit hard by the global financial crisis, but many projects stalled after the 2009 crisis have been restarted.

ssahoo@thenational.aeFollow The National’s Business section on Twitter

0

Share This Post