Companies compete for Dubai Metro retail outlets

24/12/2009 - Dubai Investment News
Companies compete for Dubai Metro retail outlets

Posted by Neil King

The Dubai Road and Transport Authority (RTA) is offering the limited number of remaining retail outlets on the Dubai Metro Red Line to the most worthy investors.

A range of major companies have already rented space on the line including UAE Exhange, Starbucks and Alphamed Group. RTA says that more than 80 per cent of the retail outlets have now been awarded to firms, with the high level of competition reflecting the opportunities for investment in Dubai.

"Contracts are being awarded through bids that witnessed intense participation in a way that reasserts the confidence pinned by investors in the economy of the emirate, and endorses the investment potentials created by the investment facilities on offer," said Abdul Mohsin Ibrahim, head of RTA's strategy and corporate governance sector.

The 29 stations along the Red Line will also feature property showrooms and bank services in addition to restaurants and retail outlets.

Investment opportunities in the Dubai Metro system were boosted by the announcement earlier this week that since the start of the Metro operation in September this year, about six million passengers have used the Red Line service.

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