The announcement took place at the signing ceremony of a new lease between Mr. Ali Soori, representing the owner of OASIS CENTER, H. H. Sheikh Ahmad Bin Saeed Al Maktoum, and the lessee, Mr. Micky W. Jagtiani, Chairman of the Landmark Group.
"There is no denying the fact that the fire and the damage it caused has been a setback for the group," said Micky Jagtiani, Chairman and CEO of the Landmark Group. "Yet, we are a financially and operationally robust organization and, I personally consider such instances a part of life - you win some, and lose some. We will, Inshallah, come out stronger from this disaster."
The calamity, which completely gutted the OASIS CENTER, resulted in the activation of a 'Force Majeure' clause, with the land and building reverting to the owner. Since then, redevelopment plans for the property, have been drawn up and a fresh lease prepared, which was signed today.
"The new mall will continue to be called the OASIS CENTER and will have 4 levels of retail space, totaling to approx. 600,000 sq. ft.," explained Vipen Sethi, Group Director Finance, for the Landmark Group. "There will also be one level of office space of approx. 200,000 sq. ft., totaling to 800, 000 sq ft in all. For the convenience of customers three basement car parks with a capacity for 1600 cars have been planned," he said. "To give you a comparison, the new mall will have almost 3 times the retail space of the old OASIS CENTER.'
The new development will come up on the same location and will take 18 to 24 months to complete as it is substantially larger and a more modern building. Internationally renowned architects and local consultants specializing in retail space development are part of the team executing this project.
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Announcing the re-launch of OASIS CENTER
- United Arab Emirates: Sunday, February 12 - 2006 at 14:47
- PRESS RELEASE
OASIS CENTER, an icon for shopping and family leisure to many in Dubai, will be re-launched in a more spacious, modern, convenient and diversified incarnation, as plans of its re-launch have been finalized.
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About the new mall:Keeping in mind the GROWING needs of the Dubai consumers, specially those who live close to the OASIS CENTER in areas like Jumeirah, Al Quoz, Safa, and Umm Sequeim and, in the newer housing developments along Sheikh Zayed Road and its surroundings, the new OASIS CENTER has been planned to be truly a comfortable and convenient family centre for the people of Dubai.
The anchor tenants will include:
- Home Centre, the UAE's favourite home furniture and furnishings store, with a massive 120,000 sq. ft area.
- Centrepoint - the spanking new family destination store that showcases the four popular brands - BABYSHOP, SHOE MART, SPLASH & LIFESTYLE. It will cover 100,000 sq. ft.
- E MAX - the recently launched electronics store which will be spread across 80,000 sq. ft. over two levels.
- FUN CITY - the leisure and entertainment offering from the group, over 25,000 sq. ft.
- FOOD COURT - the ever-popular food court with some specialty restaurants will complete the shopping and leisure experience for the families of Dubai.
Today, shoppers expect more than just great stores in a retail development. While the new OASIS CENTER will boast all of Landmark Group's core concepts, special attention has been paid to make a visit here a great, all-round family leisure experience - from convenient access, ample parking and open, shopper friendly spaces to a modern design, state of the art facilities and of course, world's most advanced safety features - the new OASIS CENTER has been conceived to quickly re-establish itself as the retail and leisure destination of choice.
About Landmark Group:
From its first store in Bahrain in 1973 measuring all of 5,000 sq. ft., the Landmark Group today has a retail presence of over 5million sq. ft. and a footprint that spans across the GCC, Jordan and India. The Group currently operates over 400 stores, concepts and business interests and attracts an ever-widening customer base, representing varied nationalities, cultures and economic profiles. Expansion being at the core of its business philosophy, the Landmark Group will continue to add many more new concepts and stores in the near future.
The brand portfolio of Landmark Group includes Babyshop, Shoe Mart, Splash, Home Centre, Lifestyle, Max, E Max, Tranquility, Aesthetica, Lifestyle Pharmacy, Sarah's Secret, Fun City and Cerutti. Other brands the group represents include Shellys, Pablosky, Ecco, Bata, Ms, Lee Cooper, Bossini, Koton, Aftershock, 4 You, La Vie En Rose, Reiss and others.
For more information, please contact: Rohini Rego: +971 50 3823 556 info@communicraft.net
Posted by Janeta Novakovic, Assistant News EditorSunday, February 12 - 2006 at 14:47 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Mon Apr 23 2007.
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