Lebanon Businessnews News
 

City Mall gets $10 million renovation
Will raise leasable area by 12 percent
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City Mall, Dora is in the process of renovating and uplifting its premises. The mall is revamping its lighting, painting, and tiling, and will be adding extra leasable area. City Mall currently has a Gross Leasable Area (GLA) of 85,000 square meters (sqm).

Simon Khoury, Chief Operating Officer at City Mall, said that the process will be accomplished over two phases, adding in total 10,000 sqm of GLA, with an investment of around $10 million.

Khoury said: “As per international standards, shopping centers should be renovated after nine to ten years of operation. Our marketing development necessities require a new branding and re-merchandising in order to uplift the mall’s identity.”

The first phase, which already started in February, will be completed in November. During this phase, City Mall will be adding 5,000 sqm of GLA. The second phase, expected to be completed in September 2014, will add another 5,000 sqm of GLA.

A new area of 3,000 sqm will be allocated for Food & Beverage through an additional food court, including more fast food restaurants. “The additional space will include an outdoor smoking area with a sea view,” Khoury said.

The renovation process entails adding a new theater to the existing Cinema City, a family entertainment center, and an ice-skating arena. “The ice-skating ring will be the first local one to be located within a mall,” Khoury said.

According to Khoury, City Mall was only slightly affected by the opening of the Beirut City Centre in Hazmieh. “We have felt the impact of the Beirut City Centre just like that of any other mall opening around. Shortly after the opening, our footfall went back to normal.”

Khoury said City Mall’s catchment area is from different urban regions, namely the Metn, east Beirut, and the roads connecting the North to Beirut.
Reported by Rana Freifer
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Date Posted: Jun 28, 2013