The Meydan Group has announced two major new projects at Cityscape Global: Mohamed bin Rashid Al-Maktoum City District Eleven and Meydan Avenue, two mixed-use developments in Dubai.
The group revealed plans for a new project, Mohammed bin Rashid Al Maktoum City — District Eleven, a suburban mixed-use community development featuring parks, private schools and retail businesses.
Located adjacent to the urban corridor of Sheikh Mohammed bin Zayed Road (E311) and Al Ain Road (E66), the community will include two prime residential areas: 1,500 four-bedroom semi-detached villas for Emirates Airline pilots and an additional 700 four-bedroom units constructed in the Meydan Villas plot. The residential areas cover a total ground floor area of 450,000sqm and 210,000sqm respectively.
One of the unique elements to District Eleven is the launch of Kent College Canterbury — Meydan, a strategic partnership between Meydan Group and one of the most respected educational institutes in the UK.
Built around the British curriculum, classes will be offered from year 1 to 12, with students in year 6 and above offered finishing classes with an emphasis on equestrian training.
The school will eventually accommodate up to 2,000 students; sport and recreational facilities will include football and rugby fields, cricket grounds and a running track.
The second announcement from Meydan is that construction has begun on the newly branded Meydan Avenue — previously known as Diamond Business Park — which sits in the shadows of The Meydan Hotel, Racecourse and Grandstand.
The development will offer a blend of residential, commercial, retail and recreational facilities enhanced by the sports and leisure attractions featured at Meydan, as well as a comprehensive range of conference and exhibition services, as well as the new Meydan Arena.
Running adjacent to Al-Meydan Road, Meydan Avenue will feature stylish buildings of residential apartments at each end, connected by roads, walkways and landscaped pathways to provide easy access to all areas for vehicles and pedestrians.
The architectural design throughout the development will be contemporary, innovative and inspired by geometric styling and technology.
The Meydan Arena will be positioned in close proximity to The Meydan Hotel, with the Dubai skyline serving as a dramatic backdrop to special events and functions.
Completing the range of developments at Meydan Avenue will be the new Meydan Headquarters, a 17,500 sqm facility with 11,600 sqm available as leasable office space to local and international businesses.
Meydan Chairman Saeed Humaid Al-Tayer said: “We are building desirable communities in Dubai which will become integral areas for living and working in the years to come. It’s an exciting time for us at Meydan as construction is underway on both of these major new projects and will soon be coming to life.”
He said: “District Eleven will become a sought after suburban community in Dubai as we bring in outstanding education facilities, complemented by one of a kind landscaping and green space.”
He added: “The residential apartments in Meydan Avenue, meanwhile, will look across the Meydan Grandstand, giving residents access to the recreational facilities such as The Track Golf Course and immediate access to a range of shops and restaurants.”
Meydan is hosting a sizeable, interactive and technologically advanced 450sqm stand at the entrance to Hall Five of Cityscape Global, the region’s premier real estate event which runs from 21-23 September at the Dubai International Exhibition and Convention Centre.
The stand showcases the vast breadth of Meydan’s reach throughout Dubai, with management on hand to provide updates to the real estate community on its projects including Entisar tower on Sheikh Zayed Road, the Dubai Water Canal and developments within Mohammed bin Rashid Al Maktoum City.
Meydan Group is committed to helping create the future of Dubai through the development of attractive, family-oriented residential and lifestyle projects.
Meydan promotes mixed-use developments
Meydan promotes mixed-use developments
Global brands shut Middle East stores as conflict causes chaos
- Luxury brands and retailers close stores in Middle East
- Conflict threatens the region that has been luxury’s fastest growing
- Mass-market retailers monitor situation, adjust operations in region
PARIS: In Dubai and other major Middle Eastern shopping hubs, many stores are closed or operating with a skeleton staff as the escalating conflict in the region causes chaos for businesses and travel.
The US-Israeli air war against Iran expanded on Monday with no end in sight, with Tehran firing missiles and drones at Gulf states as it retaliates for a weekend of bombing that killed Iran’s supreme leader and reportedly killed scores of Iranian civilians, including a strike on a girls’ primary school.
Chalhoub Group, which runs 900 stores for brands from Versace and Jimmy Choo to Sephora across the region, said its stores in Bahrain were closed, while other markets, including the UAE, Saudi Arabia, and Jordan remained open though staff attendance was “voluntary.”
“We operate with a lean team formed of members who volunteered and feel comfortable to come to the store,” Chalhoub’s Vice President of Communications Lynn al Khatib told Reuters, adding that the company’s leadership team personally visited Dubai Mall and Mall of the Emirates on Monday morning to check in with workers.
E-commerce giant Amazon closed its fulfillment center operations in Abu Dhabi, suspended deliveries across the region and instructed its employees in Saudi Arabia and Jordan to remain indoors, Business Insider reported on Monday, citing an internal memo.
Gucci-owner Kering said its stores were temporarily closed in the UAE, Kuwait, Bahrain and Qatar and it has suspended travel to the Middle East.
Luxury growth engine under threat
Shares in luxury groups LVMH, Hermes, and Cartier-owner Richemont were down 4 percent to 5.7 percent on Monday afternoon as investors digested the knock-on impacts of the conflict.
The Middle East still accounts for a small share of global spending on luxury — between 5 percent and 10 percent, according to RBC analyst Piral Dadhania. But the region was “luxury’s brightest performer” last year, according to consultancy Bain, while sales of expensive handbags have stalled in the rest of the world.
Now, shuttered airports have put an abrupt stop to tourism flows into the region and missile strikes — including one that damaged Dubai’s five-star Fairmont Palm hotel — are likely to dissuade travelers, particularly if the conflict drags on.
“If you assume that it’s a $5 billion to $6 billion (travel retail) market and let’s say it’s going to be shut down for a month, we are talking about hundreds of millions of dollars that are definitely at risk,” said Victor Dijon, senior partner at consultancy Kearney.
If Middle Eastern shoppers cannot travel to Paris or Milan, that could also hurt luxury sales in Europe, he added.
Luxury brands have been investing in lavish new stores and exclusive events across the region. Cartier unveiled a “high-jewelry” exhibition in Dubai’s Keturah Park just days before the conflict started.
Cartier and Richemont did not reply to requests for comment.
Luxury conglomerate LVMH has also bet big on the region. Last month, its flagship brand Louis Vuitton staged an exhibition at the Jumeirah Marsa Al Arab hotel, and beauty retailer Sephora launched its first Saudi beauty brand.
LVMH does not report specific figures for the region, but in January Chief Financial Officer Cecile Cabanis said the Middle East has been “displaying significant growth.” LVMH did not reply to a request for comment on how its business may be impacted by the conflict.
The Middle East has also attracted new investment from mass-market players. Budget fashion retailer Primark said in January that it plans to open three stores in Dubai in March, April and May, followed by stores in Bahrain and Qatar by the end of the year.
“Primark is set to open its first store in Dubai at the end of March but clearly this is a fast-moving situation which we are monitoring closely,” a spokesperson for Primark-owner Associated British Foods said.
Apple stores in Dubai will remain closed until Thursday morning, the company’s website showed, while Swedish fast-fashion retailer H&M said its stores in Bahrain and Israel are closed.
Consumer goods group Reckitt has told all employees in the Middle East to work from home, temporarily closed its Bahrain manufacturing site and suspended all business travel to the region until further notice.
