Dubai Festival City to have first 'HyperPanda' outside Saudi Arabia
- United Arab Emirates: Wednesday, September 21 - 2005 at 13:56
- PRESS RELEASE
Dubai Festival City, the Middle East's largest privately-funded, mixed-use development transforming the upper reaches of Dubai's historic Creek, is to host the first HyperPanda hypermarket outside of Saudi Arabia.
HyperPanda, one of the Middle East's leading grocery food chains, is the retail subsidiary of Saudi Arabia's giant Savola Group, one of the Kingdom's leading industrial conglomerates.
Being built at a cost of AED 98 million, and with a planned product offering spanning over 100,000 lines, Dubai Festival City's HyperPanda lives up to the waterfront destination's promise to attract new brands to the UAE.
"We believe HyperPanda, with its extensive experience in Saudi Arabia, where it is represented in most urban towns and cities, will bring an added dimension to the UAE's hypermarket offering," said Phil McArthur, Director Leasing & Marketing, Dubai Festival City.
Savola said the UAE was chosen for the first HyperPanda outside its home because of the country's rapidly developing population and growing tourism.
"After careful consideration, Dubai Festival City was selected because it was quite clearly one of the best developments in Dubai and offered a fantastic opportunity for us to enter the UAE market," said Dr Muhammad Amin D.Kashgari, President-Retail Division, Savola Group.
As a Saudi company competing with international retailers, HyperPanda will focus on its regional knowledge and expertise in meeting the needs of its customers. The company expects to be recognised as the Middle East's best retailer and acknowledges that to attain this it must excel in all areas of customer offer, including range, prices and service.
"HyperPanda is successful in Saudi Arabia as a Kingdom-wide retailer serving all segments of the population, and the same will be true in the UAE. We recognise success in the UAE market will depend on us offering the best value for money to our customers as we do in Saudi Arabia. And, as a regional brand, our Arabic offering must be second to none" said Dr. D.Kashgari.
HyperPanda's reputation for providing one of the most attractive and extensive fresh food offerings in Saudi Arabia would be retained, and honed, for Dubai.
The Dubai Festival City HyperPanda, which will employ around 450 employees, will be adjacent to the UAE's largest IKEA destination store, which will open in the development's retail park this November.
"Together, these two significant retailers will form the core of Dubai Festival City's retail park and their complementary offerings will deliver critical footfall mass," said McArthur. "HyperPanda stores have a reputation of being very friendly and easy outlets in which to shop. This reputation will be further enhanced by the Dubai Festival City location, which has dedicated 1,000 parking slots for the hypermarket alone."
Adjoining the retail park is the 2.6 million square foot retail, entertainment and hospitality focal point, Festival Centre, which seamlessly blends a number of experiences into one customer-centric environment.
Boasting a unique fusion concept, this offering and range goes far beyond the standard retail centre and is designed to suit an increasingly demanding, discerning and sophisticated 21st century consumer who wants wide choice, flexibility and convenience all in one place.
Festival Centre, to be fully completed in September 2006, will integrate over 400 shops, representing some of the world's leading brands, into the InterContinental, Crowne Plaza and Four Seasons hotels, creating the ultimate in luxury dining and accommodation.
Festival Centre will also offer one of the most diverse food and beverage assortments in the region, boasting over 90 cafés and restaurants and fast food outlets. Carefully designed, each outlet will have a scenic, waterfront setting.
In addition, it will also feature the 150 berth Festival Marina, a Mediterranean style harbour, allowing yacht owners and visitors access to the centre's offerings, whilst contributing to Dubai's reputation as a leading maritime hub.
The HyperPanda announcement rounds off an exciting month for Dubai Festival City which saw the launch of the signature destination's AED 6 billion Marsa Al Khor development - a 245,000 square metre, upmarket, contemporary waterfront community reminiscent of some of the world's finest lifestyle destinations - and the AED 1.4 billion Southern Arabian style 'Hillside' residential community being developed on a 25 metre man-made knoll in the heart of Dubai Festival City.
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