Latest news with #MallofMuscat
Observer
06-05-2025
- Business
- Observer
LuLu International Holdings, TGDI pact for Mall of Muscat
Muscat - Tamani Global has entered into a strategic collaboration with LuLu International Holdings Limited to support the operational development and asset performance of Mall of Muscat on April 27. This partnership reflects Tamani Global's commitment to strengthening Mall of Muscat's market position through enhanced operational practices and strategic advisory leveraging LuLu Holdings' extensive regional experience in retail and shopping mall environments, the press statement. Spanning over 1 million square feet of gross leasable area and home to more than 170 retail outlets—including the Oman Aquarium, the first of its kind in the Sultanate—Mall of Muscat is a premier destination for both residents and tourists. WhatsApp Image 2025-05-06 at 10.50.18 Abdulaziz Salim al Mahruqi, Board Member of Tamani Global, stated: "Our collaboration with LuLu Holdings is a strategic move to benefit from their insights and experience in optimizing retail destinations. Their strategic role will be instrumental in supporting our long-term vision to ensure sustainable value at Mall of Muscat." Mr. Ananth A.V., Director at LuLu International Holdings, added, " Our goal is to provide operational input and strategic guidance that will enhance the mall's performance and deliver long-term value for all stakeholders." Tamani Global Development & Investment LLC (TGDI) is an Omani real estate developer associated with the Mall of Muscat, which is situated in Mabela. The 200,000-square-meter mall offers 3,000 parking spaces and features a dynamic mix of retail, entertainment, and lifestyle experiences. Anchor tenants such as Lulu Hypermarket, Homes R Us, Centrepoint, and Novo Cinemas, along with attractions like the Oman Aquarium, Fabyland, and Xtreme Zone, position the mall as a family-friendly hub for residents and tourists alike. TGDI's investment in the project underscores its commitment to enriching community life and supporting Oman's tourism and commercial growth. Headquartered in Abu Dhabi, Lulu International Holdings Limited oversees a dynamic portfolio of shopping malls across the GCC and Asia. T
Gulf News
02-05-2025
- Business
- Gulf News
Is UAE retail giant Lulu's share price making a comeback?
Dubai: Is Lulu's stock price in the mood for a comeback? After dropping 32% this year to Dh1.1, the ADX-listed share of the retail giant is slowly regaining some of the shine. The Lulu Retail stock is now up 16% to Dh1.28. Market watchers reckon that next week's trades will be crucial as the company readies to announce its Q1-2025 results. So far today, Lulu is at Dh1.26, lower by over 1%. But investors reckon there is a real possibility for Lulu's share to bounce back - and most important, hold its ground. The Lulu IPO price was Dh2.04 and resulted in one of the biggest retail subscriptions ever for a UAE enterprise. 'Despite the uncertainty surrounding US tariffs and a slowdown for GCC economies, Lulu Retail's margins and profitability are expected to rise for Q1-25 and going forward,' said Sameer Lakhani, Managing Director at Global Capital Partners. '(The Lulu share price gain) suggests that investors are turning optimistic about the company's performance. 'Of course for value investors, this is an opportunity to accumulate holdings. And this has increasingly been reflected at both the retail and institutional investor level.' Retail investors One of the big takeaways from the Lulu IPO was the presence of retail investors, many of whom had been first-time subscribers to a UAE stock market float. The Dh2.04 was the higher of the price range, and Lulu eventually drew an aggregate demand of Dh135 billion from subscribers. This made it the biggest for non-UAE government entity in 10 years. But once it listed, the stock was pulled lower, and the process accelerated after the company announced its 2024 numbers (even though the financials showed rock-solid growth in regional markets). This is why the Q-2025 results announcement will be crucial in setting the Lulu stock's short-term trajectory. 'We remain focused on strengthening our market position and look forward to the journey ahead with purpose and a shared vision for sustained growth," is what Saifee Rupawala, CEO of Lulu Retail said last week after the company's first AGM since the IPO. Mall of Muscat deal Lulu continues to deepen its Gulf-wide network. In Oman, there was the tie up between Tamani Global and LuLu International Holdings to 'support' the operational development and asset performance of Mall of Muscat. The Oman mall covers 1 million plus square feet of leasable area and hosts more than 170 retail outlets—including the 'Oman Aquarium', the first of its kind in the Sultanate. And this week, in the UAE, it was confirmed that the Ministry of Financeis integrating Lulu's B2B e-commerce platform - LuLuOn - into the UAE federal government's digital procurement system. What this means is that UAE government agencies can now access LuLu's product catalogue directly within the government's e-procurement platform. "Lulu Retail remains operationally strong, and there are still new areas of growth coming through," said a market analyst. "Somehow, so far, Lulu Retail's share price has not been able to catch up.
Al Bawaba
18-02-2025
- Business
- Al Bawaba
Al Futtaim IKEA Pop-Up Now Open at Mall of Muscat
Mall of Muscat, a leading shopping and entertainment destination, proudly announces the opening of the Al-Futtaim IKEA Pop-Up Store. This exciting addition reinforces the mall's commitment to offering unique retail experiences and enhancing its position as a premier shopping hub in Al-Futtaim IKEA Pop-Up Store brings a curated selection of stylish, affordable furniture, home accessories, and smart storage solutions to Mall of Muscat. Visitors can explore inspiring room setups, expert styling tips, and convenient home delivery services, making it easier than ever to bring IKEA's renowned Scandinavian designs into their located at the heart of the Mall of Muscat, the new IKEA Pop-Up Store enhances the mall's diverse retail offerings, which include over 240 brands, extensive dining options, and top-tier entertainment venues. With its central location and dynamic atmosphere, Mall of Muscat continues to be the preferred shopping destination for both residents and Nasser Al Zadjali, Chairman of the Board of Directors, Tamani Global Development and Investment LLC commented:"We are thrilled to welcome the IKEA Pop-Up Store to Mall of Muscat. This addition aligns with our vision of offering a diverse and engaging retail mix. IKEA's reputation for affordability, comfort, and sustainability makes this pop-up an exciting destination for our visitors, bringing innovative home solutions to Oman."Mohammed Al Kurdi, Country Market Manager, Al-Futtaim IKEA Oman, added:"We are excited to introduce the Al-Futtaim IKEA Pop-Up Store at Mall of Muscat, providing an inspiring and interactive way for customers to experience IKEA's well-designed and affordable home solutions."Aligned with the sustainability values of both Mall of Muscat and IKEA, the pop-up store features energy-efficient lighting and eco-friendly materials, ensuring a responsible and mindful shopping Mall of Muscat today to explore the all-new Al-Futtaim IKEA Pop-Up Store and immerse yourself in a world of shopping, dining, and entertainment—all under one roof. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
