ABU DHABI 4 May 2017: Aldar Properties has signed a partnership agreement with Al Fahim Group to bring the world’s first Mercedes-Benz and AMG showroom and state-of-the-art express service centre to Yas Island.
The new showroom will be located in close proximity to Yas Mall and opposite the mall’s flagship luxury department store, Tryano. Construction is scheduled to start in the fourth quarter of 2017, with handover to Al Fahim Group in early 2019.
The 5,900 sqm Mercedes-Benz and AMG showroom represents a sizable portion of the gross floor area for Aldar’s new planned retail park on Yas Island which was announced in March 2017. The retail park forms a part of Aldar’s Dh3 billion investment programme aimed at growing net operating income from recurring revenue generating assets.
The Mercedes-Benz and AMG Yas Island project will be a masterpiece of design developed by a consortium of four leading architectural companies to provide a seamless and approachable journey from modern luxury to robust sportiness. All future global facilities with the same concept will be benchmarked against this Yas Island project.
Commenting on the agreement, Mohamed Khalifa Al Mubarak, Chief Executive Officer of Aldar Properties, said, “Yas Island is one of the most exciting destinations in Abu Dhabi, and Mercedes-AMG, with its global reputation for speed and performance, is a natural fit. This deal comes soon after announcing our retail park plans within our investment programme, and we look forward to the new showroom making an impact on our recurring revenues as soon as next year.”
Ahmed Abdul Jalil Al Fahim, Chairman of Al Fahim Group, said, “The complex will have all the elements of future showroom concepts for Mercedes-Benz and AMG, including complete digitalisation and new job roles. Above and beyond, the facility is part of our group strategy to demographically expand and provide added services further emphasising our promise to Mercedes-Benz, and our clients, in maintaining our status as a pioneer in customer satisfaction.”
By Angel Chan