In a move expected to reshape Ajman’s economic and retail landscape, LuLu International Holdings Limited and Mulk International have announced a landmark joint venture to establish Mirkaaz Mall by LuLu, a new mixed-use Freezone retail hub in the Northern Emirates.

The announcement follows the signing of a Memorandum of Understanding (MoU) during the Middle East Council of Shopping Centres and Retailers (MECSR) event. Under the agreement, both parties will develop a 2.5 million-square-foot Freezone and Freehold project at the centre of T10 Mirkaaz City, the first of its kind in the region.

The partnership brings together Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of the Ajman Land Department and Ajman Tourism Development Department, LuLu International through its property arm, Line Investments & Property LLC, and UAE-based conglomerate Mulk International.

As part of the deal, Line Investments & Property will take charge of managing Mirkaaz Mall, which will span 400,000 square feet. The mall is expected to set a new standard for retail and leisure in Ajman, offering an enhanced shopping experience complemented by a curated mix of global and regional brands.

Sheikh Abdul Aziz bin Humaid Al Nuaimi said: “Ajman is stepping into a new era of growth with Mirkaaz Mall and the surrounding mixed-use development. Partnering with LuLu Group, one of the most respected retail names in the world, ensures the project will redefine community living and retail excellence in Ajman.”

He added: “Through this partnership, Line Investments & Property LLC reaffirms its leadership in retail real-estate innovation – continuously driving excellence through technology, sustainability, and a steadfast focus on customer experience.”

Ananth A. V., Chief Operating Officer and Director of LuLu International Holdings Limited, said the collaboration with Sheikh Abdul and Mulk International represents a key milestone in the group’s regional expansion. “Our goal is to create a world-class retail and leisure destination that not only elevates the shopping experience but also contributes to the socio-economic growth of Ajman. With Mirkaaz Mall by LuLu, we aim to foster vibrant community spaces, attract global and regional investments, and support the UAE’s long-term vision for sustainable development, innovation, and inclusive prosperity,” he noted.

Nawab Shaji Ul Mulk, Founder and Chairman of Mulk International, added: “Our partnership with Line Investments & Property LLC marks a significant step in elevating Mirkaaz Mall’s performance and customer engagement. With their proven track record in mall management and strategic marketing, we look forward to unlocking new growth opportunities and redefining the shopping experience for our community.”

He further explained that the mall will showcase “a thoughtfully curated selection of leading global and regional brands, offering a premium shopping, dining, and entertainment experience tailored to appeal to both local residents and international visitors.”