Trident International Holdings (TIH) has ruled out plans to enter the mega mall business, but believes smaller boutique venues within its luxury residential projects will provide a long-term revenue stream, a senior executive said.
“We will be leasing space to outlets, as it provides us with a long-term revenue stream. Although revenue generated may not be sizeable, it will certainly lead to the company’s healthy growth,” TIH Chief Executive Wazir Daredia told Emirates Business.
The company yesterday launched Le Grande (pictured above), a 60,000 square foot retail component of its Trident Grand Residence development in Dubai Marina.
“With Trident Grand Residence we have raised the bar in luxury living and now with Le Grande we intend to positively influence the way people shop, dine and relax by bringing a range of lifestyle options under the same roof,” said Daredia. The retail shopping project has Jumeirah Beach Residence and five-star hotels such as Ritz Carlton Dubai Hotel, Grosvenor House and Le Royal Méridien in the vicinity.
Design Inc of Australia is the design partner for Le Grande, while Kolman Retail Consultants are the exclusive leasing consultants. Retailers who have confirmed their presence at Le Grande are Fish & Co, Manga Sushi, Rio Churrascaria, Community Pharmacy, Alpha Optical and Perpetual Real Estate.
The retail space itself will be divided to accommodate both gourmets as well as specialty designer boutiques. These exclusive retail outlets will cater to the needs of the residents of Trident Grand Residence and neighbouring communities.
Le Grande’s all-day dining options will include long terrace and alfresco, which will cater to tourists and residents, while lifestyle retail offerings will include treatments for well-being.
Trident eyes 'boutique' retail space