UAE: China State Construction secures AED500mn Ajman mall contract
Property developer Ajman Holding appointed China State Construction Engineering Corporation for the construction and development of its key retail destination, Mirkaaz, in the northern emirate.
Valued at AED500mn, Mirkaaz will be the first mall in the UAE to feature a sprawling atrium roof of more than 7,900sqm, constructed using ETFE Technology to provide natural UV light within the mall besides allowing natural growth for plants, and scenic day/night sky views to all visitors.
The work on the project will start in January 2018 and is due for completion in the last quarter of 2019, said the statement from Ajman Holding.
To be built over one million sq ft of land in Ajman, Mirkaaz will host a 15,000sqm hypermarket and also encompass more than 100 stores for people. It is expected to draw more than 10 million visitors in the very first year of its operations, it stated.
The agreement was signed by Yahya Al Jasmi, the managing director of Ajman Holding, and Yu Tao, the president and chief executive of China State Construction in the presence of the company chairman Sheikh Abdulaziz bin Humaid Al Nuaimi.
Al Jasmi said: “It is indeed a pleasure to have China State Construction on board to develop the mall. While this is a major milestone in the life-cycle of the mall, we are confident that it will deliver the highest standards of quality for shopping and leisure to all UAE residents and visitors. Mirkaaz is in line with the ambitious Ajman 2021 initiative, which will set unprecedented standards for the emirate’s economy.”
The construction of the mall will lead to more than 1,100 blue-collared workers and 50 engineers on site, offering direct and indirect job opportunities, stated Al Jasmi.
He continued: “With the world’s most prestigious retail and dining outlets to be showcased at the mall, the retail industry in Ajman will receive a boost in its GDP growth. Currently, the non-oil sectors recorded a growth of 3.1% last year and will grow to 3.7% in 2018 – reflecting the strength and soundness of the UAE’s development policies.”