Mohammad takes keen interest in new projects

The project, called Phoenix, will be completed in 30 months, and will be three times as large as Dragon Mart, spanning an area of 8 million square metres. The Phoenix project will include various shops, a five star hotel, a car parking, and other facilities. Shaikh Mohammad congratulated Meraas on the joint investment project between the UAE and a global Chinese company. He said that the joint project is a new step forward in increasing joint investments between the two countries, especially in the private sector.

http://gulfnews.com/business/property/uae/mohammad-takes-keen-interest-in-new-projects-1.880415

R

Interesting... I wonder what this is!

Work on Dh2b Phoenix Mall to begin this year

Project will help bring more foreign direct investment into the UAE

By Kevin Scott, Staff Reporter
Published: 00:00 September 30, 2011

Dubai: A massive new dev-elopment covering eight million square feet on the outskirts of Dubai will help bring more foreign direct investment into the UAE, the developer behind the project said yesterday.

Dubai-based real estate firm Meraas Holding will begin construction this year on the Phoenix project, including the Phoenix Mart mall, after agreeing a Dh2 billion investment with Chinese investment company China Longines.

The development, which is being built next to Dragon Mart, is scheduled for completion within two years, Sina Al Kazim, Meraas Holding's chief business development officer, said yesterday.

BOT agreement

"It is a Dh2 billion investment with 70 per cent coming from the Chinese government and 30 per cent put up by China Longines. We have signed a build-operate-transfer [BOT] agreement, which means they will operate the mall for 30 years before transferring the project to Meraas Holding," Al Kazim said.

"We have been active in securing foreign direct investment into Dubai. We have visited many different areas of the US, China and India to secure funds from a range of sectors — including industrial, real estate and recreation — that will help complement Dubai's growing economy," he added.

A Chinese delegation on a visit to the Cityscape Global met this week with His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The Phoenix project, which also features a five star hotel and car parking facilities, will be three times as large as the existing Dragon Mart complex. The Phoenix Mart mall will comprise 6,000 outlets with the vast majority new brand names from China.

"Many Chinese companies view Dubai as an important logistics hub as well as a good base for the onward distribution of their goods," said Al Kazim.

"The mall will operate at a higher level than Dragon Mart and will appeal to expatriates of all nationalities. However, we do expect the majority of the mall's clientele to be Chinese expats," he added.

"Right fit for right area"

Matthew Green, head of research and consultancy for the UAE at CB Richard Ellis Middle East, said the project was the "right fit for the right area".

"The demographics of the catchment area will fit well with the mall. There would be no point developing a high-end development in that particular location of Dubai," he said.

"The retail sector has been performing pretty well; it has not been affected [by the economic downturn] as much as the rest of the market. Most of the big malls, such as Dubai Mall and Mall of the Emirates, are running at 90 per cent occupancy or more.

"The Phoenix Mart will cater for a niche market. But it will benefit from its location next to more than 25,000 units at International City and the nearby Silicon Oasis development," he added.

http://gulfnews.com/business/property/work-on-dh2b-phoenix-mall-to-begin-this-year-1.882131

R

http://cdn1.albayan.ae/polopoly_fs/1.1510387.1317233190!/image/4024205167.jpg

im confused if phoenix mart is the expansion to dragon mart or if it is something else...

R

I think it is something else because according to press releases, the dragon mart expansion involves: “The expansion will include cinemas, a food court, department stores and a large supermarket."

http://www.thenational.ae/business/property/dragonmart-shopping-emporium-to-more-than-double-in-size

Whereas the Phoenix Mall involves: “The Phoenix project, which also features a five star hotel and car parking facilities, will be three times as large as the existing Dragon Mart complex. The Phoenix Mart mall will comprise 6,000 outlets with the vast majority new brand names from China.”

An exciting new project. Would love to know where exactly they are building this new mammoth mall! :colgate:

thats the thing...its near international city...so im wondering where culd they possibly put it? and Meraas's website is U/C

R

thats the thing...its near international city...so im wondering where culd they possibly put it? and Meraas's website is U/C

R

Perhaps it's on the other side of IC, making it closer to DSO as well and allowing Dragon Mart to prosper on one end. It would be silly to have both of them so close together :nuts:

As for Meraas, I dont think they have ever had a proper website! :bash:

the mall will be on the empty plot of land facing dragon marts main entrance. where the design center was suppose to be.

this looks like an old shot from google maps...but u r saying its in that big open space opp dragon mart and will go around international city?

http://i56.tinypic.com/4sfrdl.jpg

R

It seems like a nuts idea, given the whole of business bay is still empty. Anyone know what the irrigated land next to the polo club is for? It wasn't there on previous maps I don't think

this looks like an old shot from google maps...but u r saying its in that big open space opp dragon mart and will go around international city?

http://i56.tinypic.com/4sfrdl.jpg

R

Yes thats the plot, but it will only go half way through

So here? :)

http://i54.tinypic.com/13zyii8.jpg

http://i41.tinypic.com/11bhukx.jpg
Shaikh Mohammed and wen Jiabao viewing a model of Dh2 billion The Pheonix project in Dubai on Tuesday. — Wam

http://www.khaleejtimes.com/DisplayArticle11.asp?xfile=data/theuae/2012/January/theuae_January465.xml&section=theuae

R

^^ Cool! Wish we had a picture of the model and not the delegates :tongue2:

I think we should change the name to Phoenix Century Plaza
This mall also has a website now: http://english.phenix-mall.com/index.html
According to the website, construction started in March and will open in January 2015.
Here are some renders from the website:
http://english.phenix-mall.com/flash/a1.jpg
http://english.phenix-mall.com/flash/a2.jpg
http://english.phenix-mall.com/flash/a3.jpg
http://english.phenix-mall.com/flash/a4.jpg
http://english.phenix-mall.com/flash/a5.jpg
http://english.phenix-mall.com/flash/a6.jpg
http://english.phenix-mall.com/flash/a7.jpg
http://english.phenix-mall.com/flash/a8.jpg
http://english.phenix-mall.com/flash/a9.jpg

Overview of Dubai—Chinese Phoenix

China Phoenix Plaza is fully invested, constructed and managed by Ningbo Phoenix Century Plaza Investment Co., Ltd, with registered capital of 200 million RMB, it set up a wholly-owned project management company –-(Dubai)Phoenix Century Plaza Co., Ltd with registered capital of 20,000,000 USD. The total investment of China Phoenix Plaza is expected to be 400 million dollars， covering an area of 570,000 square meters. The total construction area is 700,000 square meters, in which has 400,000 square meters of commercial area, 200,000 square meters of logistics and warehousing area, over 7,000 parking lots and more than 20,000 square meters of hotel, apartment and other commercial facilities area. Chinese Phoenix Century Plaza is defined as “overseas Chinese commodity world trade and exhibition center”. The plaza is divided into 8 theme pavilions, including jewelry and makeup boutique gallery, leather goods and footwear pavilion, costume pavilion, gifts and hotel supplies pavilion, digital and electrical household appliances pavilion, cloths and textile pavilion, lighting and furniture pavilion and construction materials and bath pavilion. The whole plaza covers 30 industries, more than 200,000 types of goods. The project is planned to introduce 4000-6000 Chinese brand enterprises, and it will be China commodities integrated market and trading platform, which is a collection of brand display, trading, warehousing, logistics, information, electronic commerce and catering, hotels, apartments, parking lots. Meanwhile, Dubai—Chinese Phoenix will become Chinese goods global sourcing center and the Chinese enterprise overseas marketing base with largest investment, largest scale, best quality, most varieties, most comprehensive function, most comprehensive supporting facility and best service. It aims to create a never-ending “Canton Fair” overseas.

http://english.phenix-mall.com/Phenix.html

R

Does this mean that they'll finally build a proper entrance/exit for International City or is logical thinking too optimistic?

I think we should change the name to Phoenix Century Plaza
This mall also has a website now: http://english.phenix-mall.com/index.html

Done!

Ningbo company given go-ahead for US$400m mall in Dubai
(Want China Times, July 25)

Quote:
China's National Development and Reform Commission last week gave formal approval to a company from Ningbo in the coastal province of Zhejiang for a 700,000-square-meter shopping mall in Dubai with investment of US$400 million as an overseas exhibition center for Chinese goods. The project would be China's biggest commercial property investment overseas by a private company, reports our sister Chinese-language newspaper Want Daily.

The Phoenix Century Plaza is co-invested by Ningbo Phoenix Century Plaza Investment and Miras Holding from the UAE. The plaza will be divided into eight theme pavilions for 30 sectors and more than 200,000 types of goods, including jewelry and makeup boutiques, a leather goods and footwear pavilion, a costume pavilion, gifts and hotel supplies, digital and electrical household appliances, clothes and textiles, lighting and furniture as well as construction materials and home supplies.

The center plans to introduce 4,000 to 6,000 Chinese brands, creating a global sourcing center for Chinese products an overseas marketing base for Chinese enterprises, according to the plaza's official website.

more: http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20120725000087&cid=1202

from the gossip thread.

R

49358836

www.vimeo.com/49358836

Some communication errors, but not bad. :)