Pradera/Vindico JV to exploit retail boom in Middle East

The international retail market is springing back to life after the pandemic. Pradera, the leading retail real estate investment management specialist, has announced a new joint venture with Vindico, a global retail design and delivery firm.

An image of Souq Al Jami, the shopping centre in Abu Dhabi

Pradera Vindico combines Pradera’s retail asset, fund and investment management experience in continental Europe, the UK, Turkey and Asia with Vindico’s expertise as a retail delivery and design consultancy operating across the Middle East and India. Pradera Vindico is headquartered in Dubai and brings Pradera’s platform to the Middle East.

Pradera Vindico has been appointed to provide asset and property management services and leasing to Souq Al Jami, the shopping centre located in Sheikh Zayed Grande Mosque, Abu Dhabi, one of the largest mosques in the world and the biggest in the UAE.

The newly established joint venture will deliver bespoke retail asset, property, leasing, design and project management services in the Middle East region through a holistic, end-to-end approach, uniquely conceived to maximise performance for retail property owners, developers and brands.

Roberto Limetti, Managing Director of Pradera, said: “We’ve been looking at the Middle East for some time to take our tried and trusted approach to retail property into new geographies”, said Roberto Limetti, Managing Director, Pradera.

Pradera is a leading retail real estate investment management specialist active in continental Europe, the UK, Turkey and, more recently, the UAE. Founded in 2000, Pradera’s €3.1 billion portfolio comprises 55 shopping centres, retail parks and grocery assets with more than 2,000 stores in the UK, Spain, Italy, Germany, Poland, France, the Czech Republic, Greece, Turkey and the UAE .

“Our partnership with Pradera began in 2020 during a time when the world was facing the challenges brought about by the  Covid-19 pandemic”, said Richard Kim, CEO & MD, Vindico. “Together we forged a business plan borne with an optimistic vision of how our two businesses can provide unique solutions for clients.”

Vindico is a global retail design and delivery consultancy with extensive experience in the Middle East. Founded in 2002, Vindico connects international brands with the largest retail projects across the globe, bringing brands and developers together and achieving their vision, all in time for a successful opening day experience. Vindico has delivered over 10,000 stores and has worked with more than 325 brands across 15 Countries.