Meraas signs MOU with Samanea Group for USD 272 million mall

Meraas signs MOU with Samanea Group for USD 272 million mall

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The inaugural Big C Forum witnessed the signing of an MOU between Dubai-based holding company Meraas and Singapore-based Chinese company Samanea Group that will see a one-billion-dirham mall come to fruition by Q2 2021 near Dubai International City. Six key Chinese manufacturers and businesses also signed the letter of intent.

Samanea Group will develop the 53,000 square meter retail outlet. It 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 hold space for 1,800 parking spaces.

The event was attended by His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum, Director General of Dubai Information Department – the special Guest of Honour, who witnessed the hive of bilateral business activity initiated by Hala China.

At the event, Her Excellency Tan Li, Acting Consul-General of the People’s Republic 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 USD 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.”

KC Zhang, President of Samanea Group, delivered a speech on the “New Concept and New Time” era in the Middle East, where the focus will be on the customer’s demands and which events like the Big C Forum will act as a catalyst for new Chinese entrants into the market.

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