UAE – Mubasher: The UAE’s Union Coop said it will invest AED 2.5 billion into 20 projects over the coming three years, Emarat Al Youm reported.

These investments will be pumped into developing malls and new branches, CEO of Union Coop Khaled Humaid Bin Dhiban Al Falasi noted.

Union Coop will try to self-finance its projects and not to get loans from banks, Al Falasi added.

He also added that the retail company plans for expansion in Dubai over the coming period and seeks to build 10 malls with up to AED 1 billion in investments.

It was recently reported by Emirates News Agency (WAM) that Union Coop had begun the construction of two malls at a total cost of AED 82 million.

The two new malls will be built in at Al Bada'a in Jumeirah and at Hessa Street in Al Barsha, according to WAM.