ABU DHABI: Aldar Properties announced on Tuesday an investment plan worth AED 500 million ($131 million) to redevelop two of its key retail portfolio assets in the UAE, Al-Jimi Mall and Al-Hamra Mall. The company has approved an overhaul for Al-Jimi Mall to improve the customer journey and solidify its position as the mall of choice for residents and visitors in Al-Ain. It aims to raise the gross leasable area by 20 percent to 91,000 square meters and to bring new retailers, international brands, and popular food concepts. The mall will remain open to customers until the redevelopment is completed in 2025. Meanwhile, Aldar’s redevelopment plan for the Al-Hamra Mall in Ras Al-Khaimah will reimagine its existing spaces by expanding food and beverage services and brands. The project is set to be completed in mid-2024. The investment follows the AED 500 million redevelopment plan of Yas Mall announced in 2021. “Our investments in Al-Jimi Mall and Al-Hamra Mall enable us to cater to evolving customer needs and create vibrant retail destinations for all, in line with global retail trends,” Saoud Khoory, chief retail officer at Aldar Investment, said. “The redevelopment plan for Al-Jimi Mall is a game-changer for the retail scene in Al Ain and helps us deliver long-term value for the community. “We are also delighted to be furthering our investment in Ras Al-Khaimah as the emirate continues to show strong growth potential as a hospitality, tourism, and residential destination. “Both investments further solidify Aldar’s commitment to enhance its retail portfolio and continue developing world-class shopping, dining, and entertainment destinations across the UAE.”