Aswaaq Nad Al Hamar leased out
SME members given advantage

July 22 2008:
Dubai
aswaaq, has announced that All shops in Aswaaq Community Centre has been leased in the Nad Al-Hamar due to opening in October.

According to aswaaq CEO, Abdul Baset Al-Janahi, 54% of the shops have been leased to residents of Nad Al-Hamar area and members of the Sheikh Mohammed Establishment for Young Business Leaders (SME), while the remaining shops have been leased by other companies.

Mr. Yousuf Sharaf, Deputy CEO of Aswaaq said; “that since it opened the door of leasing the shops in the centre, aswaaq continue to receive applications from various companies. He said his outfit has laid down specified conditions with priority given to residents of Nad Al-Hamar and members of the SME and taking into consideration diversity of trade activities designated for all aswaaq community centers.

He noted that the shops leased so far to the SME members and residents in the Nad Al-Hamar area include restaurants, laundry, ladies salons, gent salon, Sheila and abaya shop, business center and gift wrapping shop.

Mr.Yousuf Sharaf hinted that his outfit is now studying other contract offers presented by other companies to choose the most suitable among the lot for other aswaaq centers that would be opened later. He said diversity would be taken into consideration when it comes to offering these shops to companies depending on what they trade-in to meet the daily demand of shoppers that would patronize the shopping centers and to provide the residents of each location of Aswaaq community centers with their basic services needs.

Meanwhile, aswaaq has endorsed its shop leasing policy and have been receiving applications since February when they launched the project. According to the policy, Aswaaq will set aside minimum of 20% of its shops for leasing to residents of the area and to members of the SME where the community centre is located. This is to provide the necessary support to for SME members while taking into consideration the requirements of retail businesses in aswaaq community centers.