LuLu Group to anchor Ajman's first mixed-use freezone retail hub

24/10/2025 06:38 AST

LuLu Group International, in collaboration with Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Land Department and Ajman Tourism Development Department, and Mulk International, has unveiled plans to develop the region's first mixed-use freehold and freezone retail hub - Mirkaaz Mall by LuLu.

The announcement, made following the signing of a Memorandum of Understanding (MoU) at the Middle East Council of Shopping Centres and Retailers (MECSR) event in Dubai, marks a major step in Ajman's journey toward becoming a key destination for investment, retail, and leisure. The 2.5 million square-foot development, located at T10 Mirkaaz City, will integrate retail, residential, and commercial components, setting a new benchmark for mixed-use development in the Northern Emirates.

As part of the alliance, LuLu Group's real estate arm, Line Investments & Property LLC, will take charge of managing Mirkaaz Mall - the 400,000 square-foot retail centre anchoring the project. Under its stewardship, the mall will be rebranded as Mirkaaz Mall by LuLu, with a focus on optimising tenant mix, enhancing customer engagement, and implementing international standards in operations and sustainability.

"Ajman is stepping into a new era of growth with Mirkaaz Mall and the surrounding mixed-use development," said Sheikh Abdul Aziz bin Humaid Al Nuaimi. "Partnering with LuLu Group, one of the most respected retail names in the world, ensures that this project will redefine community living and retail excellence in Ajman."

The project is envisioned as a "mall of the future", featuring a carefully curated selection of global and regional brands, offering a premium blend of shopping, dining, and entertainment. It will cater to both local residents and international visitors, reinforcing Ajman's appeal as a vibrant, investor-friendly hub.

Ananth A.V., chief operating officer and director of LuLu International Holdings, said the partnership reflects LuLu's long-term vision for sustainable growth and innovation. "We are proud to partner with HH Sheikh Abdul Aziz bin Humaid Al Nuaimi and Mulk International on this transformative development. Mirkaaz Mall by LuLu will not only elevate the retail experience but also contribute to Ajman's socio-economic progress by creating jobs, attracting investment, and driving community engagement," he said.

Mulk International, founded by Nawab Shaji Ul Mulk, brings its global expertise in real estate and sustainable development to the venture. "Our partnership with Line Investments marks a significant step in elevating Mirkaaz Mall's performance and customer experience," said Shaji Ul Mulk. "Together, we aim to unlock new opportunities for growth and redefine retail excellence in Ajman."

Khaleej Times