Al Taif Investment, a joint venture between Dubai Investments – the leading diversified investments company listed on the Dubai Financial Market and Fujairah Investment Establishment (FIE), the investment arm of the Fujairah Government, has today announced new business updates of Al Taif Business Center, its flagship project in Fujairah. Al Taif Mall, the retail segment within Al Taif Business Center is almost 50% leased out.
The G+2 level shopping mall, nestled between Al Taif Business Center’s 19 floor Hotel & Residential and Office Tower is spread across both the towers and is equipped with 45 retail outlets including supermarkets and other lifestyle stores. The mall is getting ready to open doors for shopping and has signed up with Step-in Grouphome to a multitude of leading international and national brands for apparel, fragrances, accessories, cosmetics, footwear, and more commodities, accommodating the needs of the Centre’s diverse visitors.
Earlier this year, Al Taif Investment signed a contract with Hilton to open Double Tree by Hilton in Al Taif Business Center with 228 guest rooms, a ballroom counted amongst the biggest in Fujairah along with a wide selection of restaurants and other amenities. The hotel is also gearing up to open doors by the end of this year, providing residents, visitors and tourists a perfect venue for business and leisure.
Elie Hadwan, Business Center Manager, Al Taif Investment commented, “The partnerships with the Hilton Group and the Step-in Group, reiterate the commitment to provide access to quality living, lifestyle, shopping and business options. We are expecting the mall to reach the 70% leasing mark by the end of the year. Once operational, Al Taif Business Center will contribute towards alleviating Fujairah’s attractiveness as an evolving emirate across the UAE.”
Birendra Tiwari, Founder and CEO of Step In Group commented, “We are thrilled to introduce our 7 diverse brands at Al Taif Mall Fujairah. We believe our consumers will be pleased with the wide variety of product offerings from our brands. Our aim is to bring “Freshness” to the retail market in UAE. We look forward to bringing Penti, Mia Makeup, SHOE BOX, MODA OUTLET, Little’s, Home HUB, and proXsports to a new audience.”
The residential apartments within Al Taif Business Center are also more than 60% leased out and residents have already started moving in. The office spaces within the center are also gaining traction and are spaces in shell and core, promoting the concept of working in a business district, with access to varied business requirements.
Al Taif Business Center’s strategic location is a distinct advantage that the project offers. The project is located approximately 5 minutes from Fujairah International Airport with proximity to the
arterial road of Hamad Bin Abdulla, granting connectivity to other Emirates as well as other parts of Fujairah.