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29 March 2024

Marka to open 4 outlets in Dubai, Abu Dhabi

Jamal Al Hai, Chairman of Marka. (SUPPLIED)

Published
By Staff

Marka, the first public joint stock company focused on the retail sector in the UAE, said it is on track to open four outlets in strategic locations in Abu Dhabi and Dubai, and is currently finalising deals to open more outlets in major shopping centres and commercial districts.

The company said it will soon inaugurate its first retail and food and beverage outlets. Jamal Al Hai, Chairman of Marka, said: “In spite of the severe shortage of space in shopping malls and other commercial districts that enjoy healthy customer traffic, Marka has successfully secured locations in premium retail locations in Abu Dhabi and Dubai. In addition, we are also in the advanced stages of contract negotiations for several additional strategic locations.”

The new outlets will be located in strategic retail destinations including Yas Mall in Abu Dhabi, Meeras Holding’s The Beach, and the newly opening Galleria Mall in Dubai.

Since incorporating in June, Marka has established a management team with proven international retail experience in managing fashion, hospitality and luxury brands, under the leadership of the recently appointed Chief Executive Officer, Nick Peel.

“We have also succeeded in signing concession contracts with renowned brands in the world of retail and hospitality, in line with our vision to become the premier retail operator in the UAE and across the region,” Al Hai said.

“We are fully confident of our ability to position Marka as a leading player in the industry and achieve steady revenue growth, in line with the expectations and aspirations of our shareholders.”

Marka is pursuing an ambitious growth strategy with a balanced combination of acquisitions, franchise agreements with leading brands, as well as developing unique retail concepts with globally renowned partners.

Marka was the DFM’s first retail focused IPO, offering investors the opportunity to benefit from one of the strongest and fastest growing sectors in the UAE. The Company will begin trading on the Dubai Financial Market (DFM) in September.