aswaaq Reveals Ambitious Expansion Plans with Investments Exceeding AED 110 Million in 2016.
aswaaq has today reported record profits development figures for the last 12 months, understanding a 15 percent boost compared to the same period a year earlier.
The services associates its double-digit rise on the steady and determined growth of operations and services-- plus the strong efficiency of its business pillars, where neighborhood shopping malls have actually preserved a 99 per cent occupancy rate. With aswaaq continuing to expand its market share, they likewise extended their physical footprint by effectively opening two new supermarkets in strategic places in Emaar's Greens and Al Barsha 1.
Yousef Sharaf, CEO, aswaaq, said: "Over the course of the past 12 months, and specifically during the last 2 quarters, we have accomplished strong financials which have actually guaranteed consistent development throughout the year. This now provides us with a launch-pad to pursue new and interesting growth strategies in 2016, where we expect to invest as much as AED 110 million to provide on our goals.".
Sharaf continued: "Our focus on consumer loyalty and providing brand-new products, services and developments is unwavering. This year we released our online buying platform, and throughout the occurring 12 months we will continue to broaden our ecommerce presence.".
aswaaq's growth in 2016 will require the opening of 3 additional community shopping centers in Al Quoz 2, Al Warqaa 3 and Nad Al Shiba 4, and the unveiling of a more 3 standalone grocery stores, adding to its currently growing portfolio of malls and grocery stores throughout the Emirate, which serves more than 50 % of the Emirate through aswaaq's online shopping platform.
Affan Al Khoori, Deputy CEO of Aswaaq, said: "The brand-new neighborhood malls will add more than 100'000 sq ft of retail area to our Dubai footprint next year. In addition to getting more market share, our growth arranges will produce more tasks, with 300 brand-new employee joining the aswaaq household.".
aswaaq's current profile consists of 11 community shopping centers and grocery stores located in crucial areas across Dubai, in Al Barsha South, Al Badaa, Nadd Al Hamar, Al Mizhar, Sufouh, Umm Suqeim, Al Rigga, Al Warqa'a, Mirdif-- plus 2 freshly opened branches in the Greens and Al Barsha 1.
