Hidd Mall

A Unique Retail Destination

In 2021, we announced the 80%acquisition of Hidd Mall, a retail destination strategically located in the fast-growing area of Hidd in Muharraq, Bahrain. This 46,000 sqm mall is fully leased to Lulu Hypermarkets, the largest retail chain in the Middle East and one of the largest in Asia, under a long-term lease agreement. With a diverse range of multinational, regional, and local tenants, the mall has long leases in place, with Lulu subleasing approximately 30% of the space.

In addition to the renowned Lulu Hypermarket, the mall houses a variety of banking, retail, and F&B outlets, as well as government and service providers. Moreover, Hidd Mall serves as a vital location for Lulu Hypermarket's online distribution channel, further enhancing its significance.

This investment, valued at US$62 million, highlights our defensive approach with strong in-place cash yield and long-term stability, as malls anchored by grocery stores have proven highly resilient even amid growing e-commerce.