Lulu Group International has announced a AED2bn ($544.5M) plan to develop three malls in Umm Al Quwain, Sharjah and Dubai.
The three malls will be built and operated by Line Investments & Property, Lulu’s mall development and management unit.
The single-level mall at Umm Al Quwain will cover an area of 20,000sq m, including a seven-screen cinema, and is expected to open at the end of 2017.
The 43,000sq m Avenues Mall in Sharjah will feature premium restaurant and entertainment options. The mall is expected to be launched by the end of 2018.
Additionally, the 82,500sq m Avenues Mall in Dubai’s Silicon Oasis will be a premium retail and leisure destination, anticipated to open by the first quarter of 2019.
Line Investments & Property Dubai, Al Ain and Northern Emirates general manager Marcello Larizza said: "While there has been a softening in the global economy, we are being aggressive and bullish about the outlook because we have to look to tomorrow.
“If you look at Dubai’s plans for its theme parks and the Expo, this will take thousands of workers and employees that all need to live and eat. We will anchor all the malls with Lulu hypermarkets and supply many of the food and beverage outlets from our own Tablez [Lulu’s F&B arm] concepts."