Aldar Properties has signed a partnership agreement with Al Fahim Group to bring the world’s first Mercedes-Benz and AMG showroom and express service centre to Yas Island.
Construction is scheduled to start in the fourth quarter of 2017, with handover to Al Fahim Group in early 2019, Aldar said in a statement.
The 5,900 sq m Mercedes-Benz and AMG showroom represents a sizable portion of the gross floor area for Aldar’s new planned retail park on Yas Island which was announced in March.
The retail park forms a part of Aldar’s AED3 billion investment programme aimed at growing net operating income from recurring revenue generating assets.
Mohamed Khalifa Al Mubarak, CEO of Aldar Properties, said: “We are delighted to partner with Al Fahim Group to bring this first-of-its-kind Mercedes-Benz and AMG showroom and express service centre to Yas Island.
“This deal comes soon after announcing our retail park plans within our investment programme, and we look forward to the new showroom making an impact on our recurring revenues as soon as next year.”
Ahmed Abdul Jalil Al Fahim, chairman of Al Fahim Group, added: “We are excited to partner with Aldar to build the world’s first ‘Autohaus’ combining the new Mercedes-Benz and AMG Performance Centre architecture under one roof.
“The facility is part of our group strategy to demographically expand and provide added services further emphasising our promise to Mercedes-Benz, and our clients, in maintaining our status as a pioneer in customer satisfaction.”