Union Coop to set up commercial centre in Dubai Silicon Oasis


August 27, 2018 | By RetailME Bureau

Food and grocery retailer Union Coop have signed an investment contract with Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), to establish a commercial centre worth an estimated AED94.442 million.

The investment contract was signed by Dr. Juma Al Matrooshi, deputy CEO for Operations and Client Affairs at DSOA, and Khalid Humaid bin Diban Al Falasi, CEO of Union Coop, in the presence of Eng. Madiya Al Marri, director of the Properties and Projects Division and Mohammed Al Marri, director of the Business Development Section at the Properties and Projects Division at Union Coop.

“In line with its efforts to develop an integrated community, DSOA is keen on attracting investment opportunities that contribute to the diversification of services available to its residents. The new Union Coop commercial centre will be a quality addition to the retail offering at DSO,” says Al Matrooshi.

“In a bid to achieve our expansion goals, we are always looking for investment opportunities, in form of both purchase and lease of land, that will allow us to supply the community with a wide range of products at competitive prices and maximise shareholder returns in the long run,” adds Al Falasi. “We have signed a renewable 30-year investment contract with DSOA to open a 141,589 sqft commercial centre that will meet the needs of the residents of DSO and the neighbouring areas. We have purchased land from DSOA at a total cost of AED5 million within the framework of our community contributions.”

The commercial centre will comprise a partial basement reserved for car parking, and a ground floor with a number of shops and 250 parking spaces. The first floor will house a Union Coop hypermarket spanning 60,500 sqft.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Rajiv Warrier, Chief Executive Officer, Choithrams

Since the launch of its first store in the UAE five decades 

Continue Reading

March 20, 2024 | By RetailME Bureau
Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau




Download Images RetailME Magazine