Meraas,Samanea Group sign MoU for development of US$ 272.26 mn mall near Dubai International City
Posted on 23rd April 2019
According to *Tradearabia news report, Dubai-based Meraas and Singapore-based Chinese company Samanea Group have signed a memorandum of understanding (MoU) for the development of a Dh1-billion (272.26 million) mall near Dubai International City.
The MoU was signed during the inaugural Big C Forum organised by Hala China in Dubai. The project is set for completion by Q2 2021.
The event connected 600 Chinese investors and entrepreneurs with UAE government entities and companies.
Samanea Group is to develop the 570,000-sq-ft retail outlet, which will focus on home appliances and furniture from small, medium and big Chinese businesses seeking a foothold in the GCC market.
The mall will also have space for 1,800 parking spaces.
The event was attended by Sheikh Hasher bin Maktoum bin Juma Al Maktoum, director general of Dubai Information Department, as special guest of honour.
At the event, Tan Li, acting consul-general of China in Dubai, said: “In recent years, both China-UAE and China-Dubai relations have developed very fast. Among the Middle East countries, the UAE has conducted the most in-depth and fruitful cooperation with China.
“With its social stability, good infrastructure, ease of doing business and culture of tolerance, Dubai attracts more and more Chinese enterprises. In 2018, China was Dubai’s largest trade partner for the fifth consecutive year, bilateral trade reaching US$37.9 billion.”
She added: “The ‘Hala China’ programme launched last year, built a platform for the cooperation between China and Dubai in economy, trade, investment, tourism and culture. This programme has enhanced our bilateral cooperation and made remarkable achievements.”
The forum provided Chinese companies with a deeper understanding of Dubai’s forward-looking trade policies and infrastructure.
Headquartered in Singapore, Samanea Group supports small businesses through hosting them in professional trade centres in key markets that offer marketing, logistics, financial and networking opportunities.
The forum gathered more than 600 Chinese investors and entrepreneurs in Dubai, where Sheikh Majid Al Mualla, chairman of Hala China board of directors, officially opened the event.
K C Zhang, president of Samanea Group, delivered a speech on the ‘New Concept and New Time’ era in the Middle East, focusing on customer demands. It highlighted how events like the Big C Forum serve as a catalyst for new Chinese entrants into the market.
Zhang showed through data analysis how recent developments in the business market have driven an increasing demand for home appliances and hotel supplies to be delivered to the doors of customers. This ‘New Era’ that Zhang referred to will initiate a big change in the market. Having had a logistics hub in Dubai Industrial Park since 2013, Samanea Group is ready to cater to the new customer demand.
*News source: http://tradearabia.com/news/RET_353795.html
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