April 2007

MALL OF ARABIA INKS DEAL WITH AZADEA

Top retail group announces major tenant in Mall

Dubai, 20th March 2007– The Ilyas and Mustafa Galadari Group signed a contract this week with Azadea Group, one of the world’s fastest growing retail groups. The Mall of Arabia will contain 37 separate stores from the Azadea franchise portfolio of over 30 top brands which include Zara and the Virgin Megastore. The signing, which took place during the MECSC (Middle East Council of Shopping Centres) Annual Convention on 19-20 March, is the first tenant announcement for the Mall of Arabia which is already 80% leased.

Speaking about the new contract, Hassan Daher, Managing Director, Azadea Group said, “The Mall of Arabia is one of a new breed of shopping malls with a radically different design and a world class entertainment element. We are confident that Azadea Group will play an instrumental part in making it a lead visitor draw in the GCC.”

The Mall of Arabia with a GLA of 10 m sq ft (Inc Phase 1 & 2), will be the largest in the region and one of the largest in the world. The retail areas of the mall have been carefully planned on a radial grid, to allow customers easy navigation within the Mall. The shopping areas are grouped in zones, which will enable customers to shop in the
most efficient way. At the same time, the retailers get good visibility on all Mall circulation routes, with a tenant mix that will create synergy between the brands. There will be an “aspirational” area for luxury haute couture shopping, and a strong “inspirational” section with the latest fashions. In addition there will be children’s play areas; technology areas; clusters of house and home, and sports and lifestyle, outlets; gold souqs; over one hundred food outlets, ranging from top restaurants to quick snack-bars; a 15-screen cinema complex; bowling alley and a major international hyper-market.
MALL OF ARABIA INKS DEAL WITH AZADEA– Pg 2

The Mall will be linked on Level 2 to the other major draw in City of Arabia, the Restless Planet dinosaur theme attraction which is expected to raise the bar for theme parks in the region and set a new standard for the Middle East. The Restless Planet is already attracting a significant amount of attention internationally as one of the best theme park attractions currently under construction.

Speaking after the signing took place, Mustafa Galadari, Vice Chairman and Managing Director of Ilyas & Mustafa Galadari Group, commented, “Signing with Azadea Group is tremendously important to us as they have a significant presence in the region. The Gulf retail sector is the fastest growing in the world and the Mall of Arabia, with top level retail groups such as Azadea onboard, is keen to play a major part in this growth.”