Our development program reflects and reinforces Souq Extra’s strategy of delivering best-in-class shopping experiences for the local community.
Souq Extra’s development activity is primarily focused on development projects in our core market in the United Arab Emirates.
In addition to an aggressive expansion strategy that facilitates the introduction of new clients and partners, we believe in investing in our existing assets to position them for stronger growth, to build in resilience to adverse economic conditions and to achieve predictable, stable returns for our shareholders, including Emirates Investment Authority, Lootah Holding, National Bonds Corporation, and Abassi Group.
The proposed 55,000 SqFt expansion of Souq Extra DSO is centered on a cobblestone community Piazza with best in class F&B operators, encased by double height glass fronted, boutique retail and community activities. The Piazza creates a ‘sense of place’ and well-being away from the intensity of daily life, to be the meeting place of choice for local DSO residents.
Retail planning focuses on core community services including a new children’s play and nursery concept, international gym operator, popular activity-based entertainment concepts and premium F&B and fast-casual in/outdoor dining concepts. Delivery of the proposed expansion shall be programmed into the existing schedule, with a proposed completion during Q4, 2018.
The Ewan Residences community has referred to the flagship Souq Extra DIP center as their own since 2009. The proposed 32,000 SqFt center expansion significantly increases community services and creates a contemporary meeting place for all DIP residents.
The expansion focuses on three core design cues:
Project commencement during Q4, 2017.
The Cultural District Project mimics the existing urban fabric, composed of 2 major plazas connected by a central circulation spine. Alleyways weave through the site, creating pockets in between the buildings that act as courtyards, event spaces, and cafe spill-out spaces. Built form is a mix of warehouses and contemporary blocks with double height spaces, and overlapping volumes, for leasing to art galleries, libraries, retail outlets, F&B outlets, activities, performing arts, and F&B outlets – a mixed-use cultural district that caters to all.
Located in the mixed use commercial/residential area of the Al Dhaith South district of Ras Al Khaimah, the 91,112 SqFt development site is situated next to extensive villa area to the South and a series of car showrooms which border the main coastal highway leading into the city centre to the North. Neighboring services include Amasy Wedding Hall, a girl’s high school, the Birla Institute, Ras Al Khaimah Police HQ and a newly developed sports center. Pre-development planning is underway with breaking ground scheduled in Q4, 2017.
Souq Extra Ajman is the embodiment of a contemporary Town Square. Defined by a set of community values that reflect families gathering together to participate in social events, to celebrate occasions, and to live a cosmopolitan lifestyle. The Town Square shall be a place where local cultures and communities of the Northern Emirates come together to enjoy a range of community services that support the close radius between work and lifestyle.