Groundbreaking ceremony held for its multi utility Commercial Centre at Sharjah
• Malabar Group continues to strengthen its international presence
• To develop a multi utility commercial centre at Sharjah
• Groundbreaking ceremony held on 21st May
Malabar Developers, the second biggest arm of Malabar Group after Malabar Gold & Diamonds, is the property development division of the group with a wealth of 14 years of experience in building and developing commercial properties in India. The company has already developed over 1.6 Million sqft properties in India.
After the successful entry of Malabar Gold & Diamonds in the international arena, the group is venturing into property development in the international market, entering through GCC. It was noticed that while developing the jewellery business in the international market, Sharjah market was taken as their entry point. On the property development also, Malabar Group has chosen the City of Sharjah to enter with.
The group that has over 115 retail jewellery outlets under the brand Malabar Gold & Diamonds, held the groundbreaking ceremony of its first property development out of India in Rolla square, Sharjah on 21st May 2014. Mr Sultan Al Shamsi, CEO, Sharjah International Investment; Ms. Wedad Abdullah Al Marzouqi, Manager- Chairman’s Office, Sharjah Economic Development department, Mr. MP Ahammed, Chairman- Malabar Group, other Directors & well wishers of Malabar Group were present at the event. This multi utility commercial complex is planned to commence within a year time. The group also has plans to develop more properties in UAE and other GCC countries in the coming years.
Speaking on this occasion, Mr Ahammad M P, Chairman, Malabar Group said “ In the coming two years, we have envisioned a major expansion plan with an extensive coverage of 14.3 Million sqft ( Residential 7.2 Million sqft and Commercial 7.1 Million sqft) across India. This includes constructing premium apartments across all metros, townships, mixed use development projects. The group also has plans to venture into the international arena with the same concept. Expertise in this field will help us to penetrate in this market easily”.
Malabar Group, one of the fastest growing business conglomerates commenced business with a single jewellery retail shop in the year 1993 in Kerala, India. With a Turnover of $ 3.5 Billion, the group is best known for its activities in the field of gold and diamonds. Apart from having the largest chain of retail jewellery shops, Malabar group has successfully diversified into various business sectors such as gold jewellery manufacturing & wholesaling; real estate development (Malabar Developers) ; dealership & retailing of luxury branded watches ( Malabar Watches) ; hospitality services, organic farming, branded furniture manufacturing and retail ( EHAM), and Information Technology.
Malabar Developers , the property development wing of Malabar Group is a brand that has earned solid trust from thousands of customers across India. Having started operations with residential projects in prime locations, they have successfully ventured into commercial spaces, luxury residential projects and modern office spaces throughout South India. They provide quality construction services to a large clientele upholding excellent standards in design and construction.
The social wing of Malabar Group focuses on conceptualizing and implementing the Corporate Social Responsibility initiatives of the Group and the group earmarks 10% of the profit from business for CSR activities. The initiatives are directed towards enabling communities through various projects in the areas of education, medical aid and health services, women empowerment, environment protection and housing development for the less privileged.