Meraas signs agreement with Samanea Group for AED1-bn mall


April 22, 2019 | By RetailME Bureau

The recently concluded, inaugural Big C Forum witnessed the signing of a memorandum of understanding (MoU) between Dubai-based holding company Meraas and Singapore-based Samanea Group that will see the launch of an AED1 billion mall by Q2 2021 near Dubai International City. Six key Chinese manufacturers and businesses also signed the letter of intent.

Samanea Group will develop the 570,000 sqft retail space, which will focus on home appliances and furniture from small, medium and big businesses seeking a foothold in the GCC market. The mall will also hold space for 1,800 parking spaces.

“In recent years, both China-UAE and China-Dubai relations have developed very fast. Among the Middle East countries, the UAE has conducted the most in-depth and fruitful cooperation with China,” says Tan Li, acting consul-general of the People’s Republic of China in Dubai. “With its social stability, good infrastructure, ease of doing business and culture of tolerance, Dubai attracts more and more Chinese enterprises. In 2018, China was Dubai’s largest trade partner for the fifth consecutive year, bilateral trade reaching $37.9 billion. The ‘Hala China’ programme launched last year, built a platform for the cooperation between China and Dubai in economy, trade, investment, tourism and culture. This programme has enhanced our bilateral cooperation and made remarkable achievements.”

The Big C Forum – co-hosted by Hala China, which is a major initiative launched by Meraas, in collaboration with Dubai Holding – provided Chinese companies with a deeper understanding of Dubai’s forward-looking trade policies and infrastructure. The forum gathered more than 600 Chinese and other Southeast Asian investors and entrepreneurs in Dubai.

K C Zhang, president of Samanea Group, delivered a speech on the ‘New Concept and New Time’ era in the Middle East during the forum, focusing on customer demands. It highlighted how events like the Big C Forum serve as a catalyst for new entrants into the market.

K C Zhang showed through data analysis how recent developments in the business market have driven an increasing demand for home appliances and hotel supplies to be delivered to the doors of customers. This ‘New Era’ that Zhang referred to will initiate a big change in the market. Having had a logistics hub in Dubai Industrial Park since 2013, Samanea Group is ready to cater to the new customer demand.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau




Download Images RetailME Magazine