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FINANCIAL NEWS
UAE’s RAK Properties, Choithrams partner to open new outlets
11 Sep 2012
(MENAFN) UAE developer RAK Properties agreed with Choithrams to develop two flagship retail outlets in the emirate of Ras Al Khaimah, Arabian Business reported.
Choithrams plans to open 32 new outlets across the GCC over the next two years.
The new supermarkets will be located at Mina Al Arab and Julfar Towers, and are scheduled for completion in the first quarter of 2013.
The shopping outlet in Mina Al Arab will cover an area of 7,064 sq ft while the Julfar Towers outlet will exceed 8,567 sq ft. Both outlets aim to “energise the shopping and retail industries in Northern Emirates”, RAK properties said.
Choithrams accessed the UAE in 1974 and since then has extended its operations to Bahrain, Qatar and Oman.
Today, the company operates more than 48 retail units across the GCC with 27 stores in the UAE.
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