Merex Investment signs milestone commercial lease deal with talabat to launch regional HQ in City Walk

talabat city walk

talabat will occupy almost 150,000 sq ft of office space that will be split across two separate buildings at prime locations in City Walk

Asset management firm Merex Investment has signed a commercial office lease agreement with talabat, MENA’s leading tech company, to set up its regional and UAE headquarters at City Walk, Dubai’s centrally located design-inspired, mixed-use destination.

talabat’s regional HQ will span almost 150,000 sq ft of premises featuring a custom-built office environment which can cater to over 2,000 employees, as talabat’s team continues to grow. Under the agreement, Merex will convert two existing retail buildings into innovative and unique office space to be occupied by talabat. The new talabat regional HQ will create a conducive workplace where employees can benefit from City Walk’s central location and enjoy the rich and vibrant offerings at the destination such as F&B, retail, leisure and healthcare.

Shahram Shamsaee, CEO at Merex Investment Group, said: “Merex Investment’s strategic vision focuses on managing spaces where businesses are empowered to deliver innovative solutions to residents and tourists, while investing in the transformation of Dubai to become a global hub for business and tourism.”

“We are committed to supporting the growth of our partners and are delighted to welcome talabat to City Walk. talabat’s new regional HQ at City Walk represents one of the largest office leases registered in Dubai post covid as confirmed by JLL over the past few years and builds on the importance of developing mixed-use assets in the current socio-economic landscape. In line with the UAE leadership’s ambitious plans to reinvent urban spaces, the signing with talabat will allow us to be one step ahead in creating destinations that offer offices of the future with holistic, convenient and innovative spaces.”

The two buildings are strategically located at City Walk, with the first being situated next to La Ville Hotel at the crossroad between Al Safa Street and Al Multaqa Street. The second is located opposite to The Square, capturing spectacular views over City Walk Fountain to the Burj Khalifa and Downtown skyline. Both locations will be connected through the indoor mall of City Walk, providing talabat’s employees with convenient access between locations and a wide array of retail and food and beverage options at their doorstep. The interior fit-out for the first building is set to be handed over by Q3 2022 whereas the second building will be handed over by Q1 2023, with employees expected to move in by Q4 2022 and Q3 2023 respectively.

Tomaso Rodriguez,  talabat’s CEO, said: “Having achieved the Great Place to Work certification in the UAE, the well-being and the working environment of our people is important. This is why we are thrilled to be taking 150,000 sq ft of space at City Walk – which is Dubai’s premier mixed-use destination, and thank Merex Investments for their support throughout this journey together.

In our current tenancy, our team is spread right throughout the building. We are looking forward to having dedicated spaces where everyone is closer together, working collaboratively side-by-side to continue to create amazing experiences for our vendor partners, riders, customers and the local communities in which we serve.

talabat HQ complements City Walk’s tenant mix with its young and dynamic workforce. Multiple companies such as FAM Properties, Edge Realty, Abdullah Al Gurg Global Investments, B8 architecture have already set up offices at City Walk. The commercial units will re-imagine the way people view City Walk as it strengthens its position as Dubai’s premier, mixed use destination, seamlessly integrating the way people live, work, and enjoy their leisure time.

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About Merex Investments

Merex Investment is a joint venture between Dubai Holding and Brookfield Asset Management, formed in 2019 with a focus on creating long-term value for Dubai’s residents and business community. The company, valued at approximately AED5 billion (US$1.4 billion), owns and operates a diversified portfolio of retail assets, including The Beach, City Walk, and La Mer, that span over 2 million square feet and host more than 550 retail, leisure, and entertainment tenants.

The asset management firm’s strategic investments and partnerships re-imagine the way people experience the city, re-engineer the way businesses interact with their customers, and re-think the way urban spaces are designed to create clean, sustainable, happy destinations. Merex Investment is firmly established as a partner of choice for local entrepreneurs as well as regional and global businesses.

About talabat:

When you think of food delivery in the MENA region, we’d be pretty surprised if talabat didn’t pop into your mind first! Since delivering our first order in Kuwait in 2004, we’ve grown quite a lot over the past 17 years.

Today, we deliver hundreds of millions of food orders, grocery items and other products per year, to our customers in nine countries throughout the region. Our food delivery business works with well over 25,000 brands and almost 50,000 branches, while our q-commerce concept, talabat mart, now delivers groceries to customers in Bahrain, Egypt, Jordan, Kuwait, Oman Qatar, and the UAE in 30 minutes or less!

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