THE MALL, THE PLOT AND THE LEASE
The mall is a community centre at Dubai Investment Park. It is a low building of two levels, a ground floor of 47,016.76 square feet and a mezzanine of 21,839.97 square feet, which together make the 68,856.73 square feet of leasable area. The plot beneath and around it is 229,908.62 square feet — a little over three times the leasable area.
The land is held on a lease running to 2098. A buyer therefore acquires the building and the leasehold interest rather than the freehold of the plot. The remaining term is long, and the points that matter in the lease are the ground rent, any review of it, and the conditions on transferring the interest or building further. They are in the lease itself, and a buyer's lawyer reads it before an offer is made.
THE UNITS AND THE ANCHORS
The mall holds 57 retail units, of which 31 are leased. The anchor mix is a supermarket, a cinema and a fitness complex: the daily-needs and leisure uses that bring a residential catchment through a community mall week after week, and that the smaller units around them draw their footfall from.
Which units each anchor occupies, on what terms and for how long is not described here. A lease schedule answers all of that, and it is the first document a buyer reads on a mall, because the anchors set the tenor of everything around them. Contact us and we will ask for it.
THE EXPANSION CONSENT
The owner states an approved potential to add one further floor above the existing building. For a buyer, that is the part of the asset that can be built rather than let: additional area on a plot the mall already stands on.
Which authority gave the approval, what exactly it permits, how much area it represents and whether it is still valid are all confirmed on the approval documents and with the relevant authority. A buyer's own advisers also check that the land lease permits the extra floor, since the lease governs what may be built on the plot. Contact us and we will request the approval with you.