Lulu Group Announces Dh 1 billion shopping mall in Dubai Silicon Oasis
- April 26, 2017
- Posted by: RKonnect
- Category: Business & Economy, Retail & Manufacturing
Dubai – Lulu Group, one of the leading retail giants in UAE has recently announced a Dh 1 billion ($270 million) ‘Silicon Mall‘ in Silicon Oasis, which will be owned and operated by its retail asset division. The project expected to completed by 2020 ahead of EXPO and is estimated to have 300+ retail outlets, including 12 anchor stores, 12-screen cinema theatres and more than 50 Food and Beverage (F&B) outlets, leisure and entertainment facilities.
Silicon Oasis – Strategic Location
The location of the new Lulu shopping mall is a strategic one considering that residents from Silicon Oasis have to go as far as Mirdif City Centre, Outlet Mall and Dubai Mall for shopping, leisure and entertainment. With a sizable resident base of 31,000 as of 2016, Silicon Oasis is fast emerging as one of the best mixed-use development in Dubailand.
Silicon Oasis – Free Zone Technology Park
Established in 2005, Silicon Oasis is not only a free zone technology park but also a freehold community, which allows investors and end-users to buy residential and commercial properties. As of 2016, more than 2,120 companies were registered with Dubai Silicon Oasis Authority (DSOA). Recently, DSOA has successfully setupDubai Technology Entrepreneur Centre (Dtec), which is the largest innovation hub in the Middle East, home to startups and SMEs from 60 countries.
Silicon Oasis – Mega Projects
Other mega projects in Silicon Oasis include Dh 1.3 billion Silicon Park, which will be the first integrated smart city project in Dubai and Dh 1 billion Fakeeh Academic Medical Center (smart hospital & medical university).
Silicon Park – Comprising of office, commercial, residential and retail space along with an 115-room hotel by Radisson RED, Silicon Park will use ‘green’ building material as well as solar panels and feature intelligent solutions, i.e. charging-docks for smart devices and a wide range of innovative applications and smart robotic technology solutions.
Fakeeh Medical Center – Conceptualised by Dr. Soliman Fakeeh Hospital (DSFH) of Saudi Arabia, Fakeeh Medical Center will be the first Smart hospital in Dubai and UAE. Phase 1 will be completed in 2017 with 150-bed capacity equipped with IT-enabled patient rooms. The phase 2 will be completed in 2019 and will have additional 150-bed along with medical university.
Investment Opportunities in Silicon Oasis
Being the most sought-after neighbourhood in Dubailand, Lulu Group aims to capitalise by being the first mega shopping destination in Silicon Oasis. The strategic location of Silicon Oasis, combined with a sizable resident base and office-goers along with mega developments provide a great opportunity for investment in various sectors including but not limited to IT, education, retail, real estate and healthcare.
Research Konnection – Connect with us on firstname.lastname@example.org if you wish to setup or expand your business in Dubai Silicon Oasis / Dubai Technology Entrepreneurship Centre.