DWC signs MoU with SouqExtra - Emirates24|7

DWC signs MoU with SouqExtra


Dubai World Central (DWC), the 140 square kilometre urban land development, has signed a Memorandum of Understanding (MoU) with SouqExtra, the new concept chain of neighbourhood super-centres, to explore retail development opportunities at DWC Residential City.

The MoU was signed by Saleh Lootah, founder and Managing Director of SouqExtra, and Khalid bin Harib, CEO Real Estate, Dubai World Central.

Under the deal, each outlet in the DWC will house all essential services, including entertainment and leisure amenities. “The SouqExtra concept is ideal for a futuristic project like DWC Residential City,” said Lootah.

Bin Harib said: “We have developed this model keeping in mind people like to shop for their groceries without having to travel to big supermarkets, while at the same time offering primary services and entertainment facilities within their area of residence. We are the pioneers of this concept in the region and most master developers are keen to adopt this model. Providing the latest in community facilities is our priority and DWC is leaving no stone unturned in developing urban planning models which will serve every real estate need.”

SouqExtra has pioneered a unique model of community-focused centres, with integrated primary services such as high-end grocery stores, children’s play areas, fast food outlets, coffee shops,
gymnasiums, salons, photo shops and community halls.

The MoU with DWC follows SouqExtra’s implementation of its first phase across the UAE with an investment of Dh200 million. Four SouqExtra outlets are already under construction in Dubai which will be operational by the end of 2008.

There will be 10 outlets in the UAE by 2009-end, including one each in Ras Al Khaimah and Fujairah.