Tuesday, August 14, 2012

Bay Square opportunity sees retail leasing soar for Dubai Properties Group

Dubai Properties Group, a member of Dubai Holding, has today confirmed a deal which will see supermarket giant Choithrams open their first flagship store in its prime mixed use development Bay Square, located in the heart of Dubai's growing Business Bay district.

The 12,448 sq. ft. supermarket will include a wide variety of merchandise and fresh products as well as a Food Corner. In addition, Choithrams will introduce for the first time ever, its coffee shop concept Vienna Café to Bay Square. The 1,306 sq.ft. café will service the surrounding residential and commercial towers in the community.

Speaking about the Bay Square retail deal, Mr Khalid Al Malik, Group CEO of DPG said: "With the release of Bay Square to market, we did anticipate strong demand from retailers for this well appointed development. However, demand has surpassed our expectations with the likes of Choitrams coming on board and we look forward to confirming even more retail deals in the near future".

Situated close to the well established South Ridge and Executive Towers developments; Bay Square is receiving strong interest from a number of retail investors. Overlooking the Downtown and Burj Khalifa area, the 5.1 million sq. ft (GFA) Bay Square development offers prime retail opportunities for lease along with commercial and residential sales. The mixed use development is accessible from all major highways with close proximity to the Business Bay metro station, Shiekh Zayed Road and Al Khail Road.

With over 290,441 sq ft of retail space covering the podium level, including open terraces and piazzas for cafes and restaurants, Bay Square Bay Square affords an excellent and accessible location with ample indoor parking to accommodate more than 4000 cars.

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