Deal to deliver region’s first mixed-use freezone retail hub
In a pioneering move that is set to transform Ajman’s economic and lifestyle landscape, HH Sheikh Abdul Aziz Bin Humaid Al Nuaimi, Chairman, Ajman Land Department and Ajman Tourism Development Department, LuLu International Holdings Limited through its shopping-malls division, Line Investments & Property and Mulk International have come together in a joint venture to introduce Mirkaaz Mall, a premier retail destination at the heart of T10 Mirkaaz City.
Through a Memorandum of Understanding (MoU) signed at the recently concluded Middle East Council of Shopping Centres and Retailers (MECSR) event, this partnership is set to develop a 2.5 million square-foot mixed-use Freezone and Freehold destination, the first of its kind in the Northern Emirates.
As part of this strategic alliance, Line Investments & Property LLC has entered into a landmark agreement to manage Mirkaaz Mall, the central retail component of the development. Encompassing 400,000 square feet, Mirkaaz Mall is set to redefine the shopping and entertainment landscape of the region, establishing a new standard for retail excellence in the Northern Emirates.
Rebranding
With this partnership, Mirkaaz Mall will be rebranded as Mirkaaz Mall by Lulu. The partnership lays the foundation for: Strategic oversight of mall operations, leasing, and marketing performance; optimisation of tenant mix and enhancement of customer-engagement strategies; Implementation of standardised operational frameworks and reporting mechanisms aligned with Line Investments’ best practices.
“Ajman is stepping into a new era of growth with Mirkaaz Mall and the surrounding mixed-use development,” asserted HH Sheikh Abdul Aziz bin Humaid Al Nuaimi. “Partnering with LuLu Group, one of the most respected retail names in the world, ensures the project will redefine community living and retail excellence in Ajman,” he added.
Vibrant Community
“With Mirkaaz Mall by LuLu, we aim to foster vibrant community spaces, attract global and regional investments, and support the UAE’s long-term vision for sustainable development, innovation, and inclusive prosperity,” Ananth AV Chief Operating Officer and Director, LuLu International Holdings.
“With their proven track record in mall management and strategic marketing, we look forward to unlocking new growth opportunities and redefining the shopping experience for our community,” concluded Nawab Shaji Ul Mulk, Founder and Chairman of Mulk International.
