LuLu, Mulk in JV to set up mixed-use freezone retail hub in Ajman

23/10/2025 02:07 AST

In a pioneering move that is set to transform Ajman's economic and lifestyle landscape, Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Land Department and Ajman Tourism Development Department, LuLu International Holdings Limited through its shopping-malls division - Line Investments & Property - and UAE business group Mulk International have come together in a joint venture to introduce Mirkaaz Mall, a premier retail destination at the heart of T10 Mirkaaz City.

Through a MoU signed at the recently concluded Middle East Council of Shopping Centres and Retailers (MECSR) event, this partnership is set to develop a 2.5 million square-foot mixed-use Freezone and Freehold destination - the first of its kind in the Northern Emirates.

As part of this strategic alliance, Line Investments & Property has entered into a landmark agreement to manage Mirkaaz Mall, the central retail component of the development.

Encompassing 400,000 sq ft, Mirkaaz Mall is set to redefine the shopping and entertainment landscape of the region, establishing a new standard for retail excellence in the Northern Emirates.

With this partnership, Mirkaaz Mall will be rebranded as: Mirkaaz Mall by Lulu. The partnership lays the foundation for: Strategic oversight of mall operations, leasing, and marketing performance; Optimisation of tenant mix and enhancement of customer-engagement strategies; Implementation of standardised operational frameworks and reporting mechanisms aligned with Line Investments' best practices.

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

"Through this partnership, Line Investments & Property LLC reaffirms its leadership in retail real-estate innovation - continuously driving excellence through technology, sustainability, and a steadfast focus on customer experience," he added.

Ananth A. V., Chief Operating Officer and Director of LuLu International Holdings Limited, expressed delight at partnership with Sheikh Abdul and Mulk International on this visionary development that is set to redefine the commercial and lifestyle landscape of the Northern Emirates.

"Our goal is to create a world-class retail and leisure destination that not only elevates the shopping experience but also contributes to the socio-economic growth of Ajman. With Mirkaaz Mall by LuLu, we aim to foster vibrant community spaces, attract global and regional investments, and support the UAE's long-term vision for sustainable development, innovation, and inclusive prosperity," he noted.

Mulk International is a UAE-based multinational conglomerate with diversified business interests spanning manufacturing, real estate, healthcare, renewable energy, and sports.

Founder and Chairman Nawab Shaji Ul Mulk said: "Our partnership with Line Investments & Property LLC marks a significant step in elevating Mirkaaz Mall's performance and customer engagement. With their proven track record in mall management and strategic marketing, we look forward to unlocking new growth opportunities and redefining the shopping experience for our community."

"The mall will showcase a thoughtfully curated selection of leading global and regional brands, offering a premium shopping, dining, and entertainment experience tailored to appeal to both local residents and international visitors," he added.

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