Abu Dhabi's Aldar to spend Dh500m to upgrade Yas Mall


Fareed Rahman
  • English
  • Arabic

Aldar Investment is embarking on a Dh500 million ($136m) plan to redevelop Yas Mall and add new stores in an effort to improve the retail experience.

The Abu Dhabi-based developer will add 100 new stores and will redesign key areas, the company said in a statement on Monday. Redevelopment work is expected to be completed in phases over the next 12 to 18 months.

“Our transformational plan for the mall is in anticipation of evolving customer needs and in line with developing retail trends globally. The project will deliver a new and diversified offering to enrich the customer experience,” Jassem Busaibe, chief executive of Aldar Investment, said.

This redevelopment is perfectly aligned with Abu Dhabi's strategic vision

Yas Mall first opened its doors in November 2014. Its redevelopment will increase the mall’s food and beverage offering by 40 per cent, with the introduction of new brands, a new food hall and outdoor terraces at the mall's North Entrance.

The Boulevard connecting Yas Mall with Ferrari World Abu Dhabi and Clymb Abu Dhabi will become the site of a new sports hub.

The mall will also welcome several international fashion brands including the first Urban Outfitters store in Abu Dhabi, Kendall & Kylie and technological footwear brand Duozoulu. A home furnishings district will also be added, introducing stores such as EBarza and Ethan Allen for the first time in Abu Dhabi.

A total of 15,000 square metres of office space will be added to Yas Mall, including the recently launched Cloud Spaces, a co-working space.

“This redevelopment is perfectly aligned with Abu Dhabi’s strategic vision to reinforce the capital’s position as a favourable destination for business, tourism and living,” Mr Busaibe said.

Aldar Properties is the UAE's biggest listed developer with a market capitalisation of Dh29.2bn. Earlier this year, the company revamped its business model, with a group operating structure overseeing its core development and investment businesses.

Aldar Development is responsible for building out the company's 75 million sq metre land bank and oversees the company's Aldar Projects, Aldar Ventures and Aldar Egypt subsidiaries.

Aldar Investment is responsible for managing its Dh16bn portfolio of recurring income assets, including its retail, residential and commercial assets under a subsidiary known as Aldar Estates. It also oversees the company's education and hospitality businesses.

Company%20Profile
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UAE currency: the story behind the money in your pockets
While you're here
UAE currency: the story behind the money in your pockets
MATCH INFO

Watford 2 (Sarr 50', Deeney 54' pen)

Manchester United 0

Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

Mercedes V250 Avantgarde specs

Engine: 2.0-litre in-line four-cylinder turbo

Gearbox: 7-speed automatic

Power: 211hp at 5,500rpm

Torque: 350Nm

Fuel economy, combined: 6.0 l/100 km

Price: Dh235,000

RESULTS

6.30pm UAE 1000 Guineas Trial Conditions (TB) US$100,000 (Dirt) 1,400m

Winner Final Song, Christophe Soumillon (jockey), Saeed bin Suroor (trainer).

7.05pm Handicap (TB) $135,000 (Turf) 1,000m

Winner Almanaara, Dane O’Neill, Doug Watson.

7.40pm Handicap (TB) $175,000 (D) 1,900m

Winner Grand Argentier, Brett Doyle, Doug Watson.

8.15pm Meydan Challenge Listed Handicap (TB) $175,000 (T) 1,400m

Winner Major Partnership, Patrick Cosgrave, Saeed bin Suroor.

8.50pm Dubai Stakes Group 3 (TB) $200,000 (D) 1,200m

Winner Gladiator King, Mickael Barzalona, Satish Seemar.

9.25pm Dubai Racing Club Classic Listed Handicap (TB) $175,000 (T) 2,410m

Winner Universal Order, Richard Mullen, David Simcock.

Volvo ES90 Specs

Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)

Power: 333hp, 449hp, 680hp

Torque: 480Nm, 670Nm, 870Nm

On sale: Later in 2025 or early 2026, depending on region

Price: Exact regional pricing TBA

The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

COMPANY PROFILE

Name: Grubtech

Founders: Mohamed Al Fayed and Mohammed Hammedi

Launched: October 2019

Employees: 50

Financing stage: Seed round (raised $2 million)

 

Dubai World Cup Carnival Card:

6.30pm: Handicap US$135,000 (Turf) 1,200m
7.05pm: Handicap $135,000 (Dirt) 1,200m​​​​​​​
7.40pm: Zabeel Turf Listed $175,000 (T) 2,000m​​​​​​​
8.15pm: Cape Verdi Group Two $250,000 (T) 1,600m​​​​​​​
8.50pm: Handicap $135,000 (D) 1,600m​​​​​​​
9.25pm: Handicap $175,000 (T) 1,600m

Six pitfalls to avoid when trading company stocks

Following fashion

Investing is cyclical, buying last year's winners often means holding this year's losers.

Losing your balance

You end up with too much exposure to an individual company or sector that has taken your fancy.

Being over active

If you chop and change your portfolio too often, dealing charges will eat up your gains.

Running your losers

Investors hate admitting mistakes and hold onto bad stocks hoping they will come good.

Selling in a panic

If you sell up when the market drops, you have locked yourself out of the recovery.

Timing the market

Even the best investor in the world cannot consistently call market movements.

BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES

SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities

Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails

Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies

Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments

6.30pm Meydan Classic Trial US$100,000 (Turf) 1,400m

Winner Bella Fever, Dane O’Neill (jockey), Mike de Kock (trainer).

7.05pm Handicap $135,000 (T) 1,400m

Winner Woven, Harry Bentley, David Simcock.

7.40pm UAE 2000 Guineas Group Three $250,000 (Dirt) 1,600m

Winner Fore Left, William Buick, Doug O’Neill.

8.15pm Dubai Sprint Listed Handicap $175,000 (T) 1,200m

Winner Rusumaat, Dane O’Neill, Musabah Al Muhairi.

8.50pm Al Maktoum Challenge Round-2 Group Two $450,000 (D) 1,900m

Winner Benbatl, Christophe Soumillon, Saeed bin Suroor.

9.25pm Handicap $135,000 (T) 1,800m

Winner Art Du Val, William Buick, Charlie Appleby.

10pm Handicap $135,000 (T) 1,400m

Winner Beyond Reason, William Buick, Charlie Appleby.

POWERWASH%20SIMULATOR
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BUNDESLIGA FIXTURES

Friday (All UAE kick-off times)

Borussia Dortmund v Eintracht Frankfurt (11.30pm)

Saturday

Union Berlin v Bayer Leverkusen (6.30pm)

FA Augsburg v SC Freiburg (6.30pm)

RB Leipzig v Werder Bremen (6.30pm)

SC Paderborn v Hertha Berlin (6.30pm)

Hoffenheim v Wolfsburg (6.30pm)

Fortuna Dusseldorf v Borussia Monchengladbach (9.30pm)

Sunday

Cologne v Bayern Munich (6.30pm)

Mainz v FC Schalke (9pm)

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

FA Cup quarter-final draw

The matches will be played across the weekend of 21 and 22 March

Sheffield United v Arsenal

Newcastle v Manchester City

Norwich v Derby/Manchester United

Leicester City v Chelsea

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Abramovich London

A Kensington Palace Gardens house with 15 bedrooms is valued at more than £150 million.

A three-storey penthouse at Chelsea Waterfront bought for £22 million.

Steel company Evraz drops more than 10 per cent in trading after UK officials said it was potentially supplying the Russian military.

Sale of Chelsea Football Club is now impossible.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

Lewis Hamilton in 2018

Australia 2nd; Bahrain 3rd; China 4th; Azerbaijan 1st; Spain 1st; Monaco 3rd; Canada 5th; France 1st; Austria DNF; Britain 2nd; Germany 1st; Hungary 1st; Belgium 2nd; Italy 1st; Singapore 1st; Russia 1st; Japan 1st; United States 3rd; Mexico 4th

UAE currency: the story behind the money in your pockets
THE BIG THREE

NOVAK DJOKOVIC
19 grand slam singles titles
Wimbledon: 5 (2011, 14, 15, 18, 19)
French Open: 2 (2016, 21)
US Open: 3 (2011, 15, 18)
Australian Open: 9 (2008, 11, 12, 13, 15, 16, 19, 20, 21)
Prize money: $150m

ROGER FEDERER
20 grand slam singles titles
Wimbledon: 8 (2003, 04, 05, 06, 07, 09, 12, 17)
French Open: 1 (2009)
US Open: 5 (2004, 05, 06, 07, 08)
Australian Open: 6 (2004, 06, 07, 10, 17, 18)
Prize money: $130m

RAFAEL NADAL
20 grand slam singles titles
Wimbledon: 2 (2008, 10)
French Open: 13 (2005, 06, 07, 08, 10, 11, 12, 13, 14, 17, 18, 19, 20)
US Open: 4 (2010, 13, 17, 19)
Australian Open: 1 (2009)
Prize money: $125m

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

CHELSEA SQUAD

Arrizabalaga, Bettinelli, Rudiger, Christensen, Silva, Chalobah, Sarr, Azpilicueta, James, Kenedy, Alonso, Jorginho, Kante, Kovacic, Saul, Barkley, Ziyech, Pulisic, Mount, Hudson-Odoi, Werner, Havertz, Lukaku. 

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Sukuk explained

Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.

UAE currency: the story behind the money in your pockets
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

BIRD%20BOX%20BARCELONA
%3Cp%3E%3Cstrong%3EDirectors%3A%3C%2Fstrong%3E%20David%20and%20Alex%20Pastor%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EGeorgina%20Campbell%2C%20Mario%20Casas%2C%20Diego%20Calva%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
Indoor Cricket World Cup Dubai 2017

Venue Insportz, Dubai; Admission Free

Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa

Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

1,000 Books to Read Before You Die: A Life-Changing List
James Mustich, Workman

Brief scores:

Liverpool 3

Mane 24', Shaqiri 73', 80'

Manchester United 1

Lingard 33'

Man of the Match: Fabinho (Liverpool)

The%20specs
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How%20to%20avoid%20getting%20scammed
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The%C2%A0specs%20
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FIXTURES (all times UAE)

Sunday
Brescia v Lazio (3.30pm)
SPAL v Verona (6pm)
Genoa v Sassuolo (9pm)
AS Roma v Torino (11.45pm)

Monday
Bologna v Fiorentina (3.30pm)
AC Milan v Sampdoria (6pm)
Juventus v Cagliari (6pm)
Atalanta v Parma (6pm)
Lecce v Udinese (9pm)
Napoli v Inter Milan (11.45pm)

MATCH INFO

Manchester United v Everton
Where:
Old Trafford, Manchester
When: Sunday, kick-off 7pm (UAE)
How to watch: Live on BeIN Sports 11HD