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The Ajman China Mall does not end there. There will be a wholesale component as well for which the Gulf Chinese Trading Corp. is in advanced negotiations with the Chinese provinces of Guangzhou and Shenzhen. The intention is to host furniture companies from these provinces in the five halls set aside for the wholesale trade.
"If all goes according to plan, these will be permanent exhibition centres for the Chinese companies looking to secure more markets in the Middle East and Northern Africa," said Dahnous. "In the Gulf itself, there's a lot of demand that can be met in Kuwait and Qatar, with the latter especially having shortages of construction materials." At an average Dh30,000 a year in rentals, Dahnous believes this will prove a decisive influence in attracting tenants. "The services that we offer are not limited to offering physical space; they can come to us for everything related to the issuing of licences, visas and residency permits," he added.
"We have the full backing of the emirate in this enterprise and we are passing that advantage on to our tenants."
Some of the retailers who were setting up their shops agreed. "The rentals are just right for a business new to this market and most of us are," said one, who declined to be identified. "What we pay as rent will have a telling impact on our profit margins, which is why getting in low is of such a benefit for our future operations here."
The China Mall may well be Ajman's largest development of the year. Upfront investments on developing the location have crossed Dh300 million, and once it reaches full potential would stock goods valued at more than Dh2 billion.
- AddressAddress: Sheikh Ammar Bin Humaid St - Ajman - United Arab Emirates
United Arab Emirates