SouqExtra!, the new concept chain of neighbourhood super-centres, and Dubai World Central (DWC), the 140 square kilometre urban land development, have signed a Memorandum of Understanding (MoU) to explore retail development opportunities at DWC Residential City – the project’s residential component.

DWC Residential City’s future 250,000 residents will benefit from this unique concept if the SouqExtra model is chosen as it will allow residents of the sprawling 716 hectare city to shop for their daily groceries without having to travel long distances, as each outlet will house all essential services, including entertainment and leisure amenities.

The MoU was signed by Saleh Lootah, Founding and Managing Director of SouqExtra, and Khalid bin Harib, CEO Real Estate, Dubai World Central.

“The SouqExtra concept is ideal for a futuristic project like DWC Residential City,” said Lootah. “We have developed this model keeping in mind people like to shop for their groceries without having to travel to big supermarkets, while at the same time offering primary services and entertainment facilities within their area of residence. We are the pioneers of this concept in the region, and most master developers are keen to adopt this model.”

DWC is a unique master developer having pioneered the Greenfield development in the UAE and is developing a whole new city centred around the world’s largest airport – Al Maktoum International Airport.

“Providing the latest in community facilities is our priority and DWC is leaving no stone unturned in developing urban planning models which will serve every real estate need,” said bin Harib. “DWC Residential City is being meticulously planned to ensure ease and comfort to its residents, and one of the key priorities is to reduce traffic congestion. The SouqExtra concept is synergistic with Dubai World Central’s vision of enabling an easy lifestyle for its residents.”

SouqExtra has pioneered a unique model of community-focussed centres, with integrated primary services such as high-end grocery, kids’ play area, fast food outlets, coffee shops, full-fledged gymnasium, salon, photo shop and community hall, designed along the tagline ‘My Favourite Place’.

The MoU with DWC follows SouqExtra’s implementation of the first phase across the UAE. Four SouqExtra outlets are already under construction in Dubai (Ewan Residences, Al Quoz, Al Barsha and Muhaisnah), to be operational by the end of 2008. There will be 10 outlets in the UAE by 2009, including one each in Ras Al Khaimah and Fujairah, with additional facilities like Car Wash and Children’s Nursery.

SouqExtra is promoted by a clutch of companies, including the Lootah Group, Emirates Post Group, National Bonds Corporation, Bonyan Holding, Abbas Group and a group of high network individuals, SouqExtra is implementing the first phase with an investment of Dhs 200 million.