Bloomingdale’s In Talks To Open Store At Kuwait’s 360 Mall

11/11/2015
The 360 Mall store will be luxury department chain’s 3rd in the Middle East after Dubai Mall and Abu Dhabi

The US retail giant is 1 of several retailers in talks to open stores at Kuwait’s 360 Mall as it undergoes a major expansion.
If the deal goes forward, it will be the company’s 3rd store in the Gulf Corporation Council, assuming new divisions of Macy’s (NYSE:M), and Bloomingdale’s are launched at Al Maryah Island in Abu Dhabi by Y 2018.
The Dubai Mall became Bloomingdale’s 1st overseas host in the company’s 138-year history.
Kuwait’s Tamdeen Group, which owns the 360 Mall, has remained tight-lipped on the issue, while a spokesperson for Bloomingdale’s did not respond.
Tamdeen Group Chairman Mohammed Jassim Al Marzouq said that there has been a waiting list for retailers since the 360 Mall 1st opened in Y 2009.
He added that Kuwait was under served in terms of quality retail stores.
“We have a big spending bowl, 80% of the Kuwaiti workforce works in the government and they are simply getting high wages and support from the government.
“On saying that, we believe there are more opportunities within the country of Kuwait, it is easy to get tourism from the outside. Kuwait is in the middle of three big, populated, conservative countries. We are not here to compete with Dubai; we are simply here to complement the Gulf. We believe there is a lot of conservative communities surrounding here and we believe Kuwait could be a good hub to have them visit with the right opportunities.”
By Y 2019, the 360 Mall will be transformed into a 122,000 sqm-complex combining retail, hospitality, entertainment and sport through the building of the Sheikh Jaber Al Abdullah Al Jaber Al Sabah International Tennis Complex.
Upon its opening, the tennis arena will possess combined stadium seating for more than 7,600 people across 2 main arenas, 8 indoor courts with more than 500 seats and 8 outdoor courts with 1,500 seats. It is hoped the ATP Champions Tour will be the stadium’s first major competition, followed by the preeminent Association of Tennis Professionals and Women’s Tennis Association.
Keeping up with the GCC trend of mixing retail stores with hospitality, the 40,000 sqm expansion will also include a 261-room hotel when it opens in Y 2020.
By Eleanor Dickinson
Paul Ebeling, Editor
HeffX-LTN

By:http://www.livetradingnews.com/bloomingdales-in-talks-to-open-store-at-kuwaits-360-mall-123926.htm

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