An ice rink is set to open in Fujairah this year as one of the country's biggest mall developers completes a major new shopping centre.
Emke Group, the retailer behind LuLu Hypermarket, will open a 60,000 square metre mall in the centre of Fujairah city in the fourth quarter of this year, joining Majid Al Futtaim (MAF) in building and opening a major shopping centre in the emirate.
"There's good growth in Fujairah," said Raja Abdulkhader, the director of Line Investment and Properties, part of Emke Group. "There are people moving in as well as a lot of tourists coming in. What is specific here is that we are going to have an ice rink." He added Emke was in talks with operators, but no company had yet been appointed to manage the rink.
The new mall, to be called Galleria, is being built as an extension to an existing LuLu Hypermarket. "We have been here more than 10 years and we have always thought of an extension," said Mr Abdulkhader.
Galleria is being built at a cost of Dh200 million (US$54.4m) and will include 110 shops, a food court, restaurants and another anchor store that is yet to be determined.
Investment in Fujairah is slowly growing as a long-awaited oil pipeline from Abu Dhabi to the emirate is expected to be completed as early as next year.
The pipeline will carry up to 1.5 million barrels of oil per day when operational, bypassing the Strait of Hormuz, which has become a contentious stretch of sea as tensions between Iran and the West mount over Iranian nuclear ambitions.
David Macadam, the head of retail for the Middle East and North Africa at Jones Lang LaSalle, said the increasing oil investment in Fujairah was good news for the emirate's economy and newest malls. "Fujairah is now the major new oil terminal for the UAE that will spur growth in population," he said. "The ice rink is not so much for tourists, it's for the local population to enjoy. They will not have to go to Dubai to try it."
MAF, which has six malls in the UAE, opened its first mall in Fujairah last week with 105 stores, 34,000 sq metres of retail space and Carrefour Hypermarket as its anchor. The Al Safeer Group of Companies is also set to open Century Mall in the northern part of Fujairah city, with more than 100 stores.
Mr Abdulkhader said LuLu Hypermarket in Fujairah had reported growth in sales of 20 per cent in the past two years and that the supermarket now attracted 10,000 visitors daily.
Mr Macadam said competition for retail in the emirate would be healthy despite the big increase in the number of stores this year. "I think there will be many that explore the MAF mall," he said. "But I think Fujairah is quite value conscious. It will be interesting competition [between] malls."
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COMPANY PROFILE
Company name: Letstango.com
Started: June 2013
Founder: Alex Tchablakian
Based: Dubai
Industry: e-commerce
Initial investment: Dh10 million
Investors: Self-funded
Total customers: 300,000 unique customers every month
Match info
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Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
RESULTS
1.45pm: Handicap (TB) Dh80,000 (Dirt) 1,400m
Winners: Hyde Park, Royston Ffrench (jockey), Salem bin Ghadayer (trainer)
2.15pm: Conditions (TB) Dh100,000 (D) 1,400m
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2.45pm: Conditions (TB) Dh100,000 (D) 1,200m
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4.15pm: Handicap (TB) Dh64,000 (D) 1,950m
Winner: Obeyaan, Adrie de Vries, Mujeeb Rehman
4.45pm: Handicap (TB) Dh84,000 (D) 1,000m
Winner: Shanaghai City, Fabrice Veron, Rashed Bouresly.