UAE – Mubasher: The UAE-based Meraas on Tuesday announced signing a memorandum of understanding (MoU) with China’s Samanea Group, Zawya reported on Tuesday.
The MoU was signed on the sidelines of the inaugural Big C Forum organised by “Hala China” programme, which was launched in 2018.
Under the deal, Singapore-based Samanea will develop the AED 1 billion ($272.26 million) mall near Dubai International City.
The project is scheduled to be completed by the second quarter of 2021.
The Chinese company is set to develop around 570,000 square feet retail outlet, which will focus on home appliances and furniture from small, medium, and big Chinese businesses in a bid to gain a foothold in the GCC market.
Upon development, the mall will have space for 1,800 parking spaces.
