DUBAI, UAE, Dec. 12, 2025 /PRNewswire/ — Wafi Group and ALMAD Group have announced the signing of a landmark partnership formalised in Dubai by H.H. Sheikh Mana bin Khalifa Al Maktoum, Founder and Chairman of Wafi Group, and Dr. Adrian Cheng, Founder and Executive Chairman of K11 by AC of ALMAD Group. As part of the partnership, a new entity called Wafi Anime 11 has been formed, which will see the renowned heritage and longstanding local presence of Wafi Group align with the visionary, internationally recognised cultural retail model of K11 by AC, part of ALMAD Group.
The two conglomerates will unite to usher a new era for Wafi City where heritage, culture and innovation will converge, strengthening Wafi Group’s position as the creator of one of Dubai’s most distinctive retail, leisure and wellness destinations whilst ALMAD Group seeks to bring K11 by AC’s globally renowned approach to cultural retail and entertainment to a new region, with Wafi City and Dubai acting as the nucleus of the expansion.
The partnership will cover several elements including a new joint venture established as Wafi Anime 11 which will capitalise on the growing increase of global and local UAE interest in all aspects of anime retail and anime entertainment, an extensive roster of entertainment and special events for residents and visitors to Wafi City to enjoy, a leasing partnership providing on-ground presence for Chinese brands who are new to the UAE and region, and a tourism strategy, where Chinese travellers are incentivised to explore all that Wafi City has to offer whilst staying at its world-class hotels including Sofitel Dubai The Obelisk and Raffles Dubai.
Gentry Club, a signature members’ club, will also fall under the partnership – a high-privacy exclusive club themed around traditional Chinese architecture with a touch of modernity, serving high-net-worth-individuals and culture lovers in the Middle Eastern and North African market. With refined hospitality, cultural engagement and an innovative social environment, this will be Gentry Club’s first private member experience outside Greater China, to be established at Raffles Dubai and provide a haven for members in a setting designed to elevate the senses whilst connecting guests to likeminded individuals.
Wafi Group has been a cornerstone of the UAE’s commercial landscape for more than five decades, operating across property, hospitality, retail, transport and industrial sectors. Its flagship development, Wafi City, stands as one of Dubai’s earliest mixed-use lifestyle and retail destinations and having opened in 1991, it has become embedded in the city’s cultural identity, known for its distinctive Ancient Egyptian-inspired architecture, immersive retail environment, diverse culinary offering, varied entertainment and award-winning hospitality experiences. Wafi City remains a place of deep nostalgia for long-term residents and nationals alike as well as a point of discovery for new residents and global visitors.
The mall offers a Gross Leasable Area (GLA) of 1.1 million sq.ft and a gross floor area of 1.6 million sq.ft, and has seen a 30 percent increase in footfall over the past three years, a performance that reflects the impact of newly introduced entertainment concepts and refreshed tenant mix – strategised as part of the ongoing evolution of the destination. In the past year alone, there have been 35 new retailers within Khan Murjan Souk, a traditional and culturally rooted marketplace defined by authentic Arabic craftsmanship and regional charm located on the lower level. In addition, 30 new retail shops and a series of new kiosks have further diversified the retail offering, complementing the broader mix of brands such as Duozoulu, Zavi and Tynt.
H.H. Sheikh Mana bin Khalifa Al Maktoum, Founder and Chairman of Wafi Group commented on the significance of the partnership, stating, “Wafi Group has always embodied heritage, innovation and the spirit of Dubai. The joint collaborations with ALMAD Group and K11 by AC reflect our continued commitment to shaping the future of retail and lifestyle in the region. Together, we aim to introduce experiences and brands that will not only elevate Wafi City but also strengthen the cultural and commercial bridge between the Middle East and China.”
ALMAD Group was formed by globally renowned entrepreneur Dr. Adrian Cheng, specifically to drive strategic growth in the digital space and emerging markets, namely the Middle East, Chinese Mainland and ASEAN countries. Headquartered in Hong Kong, the Group has transformative industry priorities spanning culture, entertainment, sports, media, healthcare, commercial management and cultural tourism. These targeted industries not only demonstrate strong commercial viability today but possess potential to shape the global economy and society in the next twenty years, serving market needs of Gen Z and Gen Alpha – particularly relevant to the Middle East, given the well-publicised ‘youth bulge’ of nations including the UAE and Saudi Arabia.
Dr. Adrian Cheng has helped shape some of the world’s most innovative cultural-retail destinations, including the Victoria Dockside, a global art and cultural district featuring K11 MUSEA and other iconic landmarks on Hong Kong’s harbourfront, with its surrounding consistently ranked as the city’s most visited area. His cultural commerce ecosystem has continued to scale globally under the K11 by AC brand and its integration into the Wafi City landscape represents an exciting evolution where Wafi Group’s local legacy is combined with ALMAD Group’s creative commercial outlook for a refreshed and rejuvenated experience.
Dr. Adrian Cheng, Founder and Executive Chairman of K11 by AC of ALMAD Group stated, “We are honoured to partner with Wafi Group, the pioneer of retail and iconic mixed-use development in Dubai. This collaboration at Wafi City sets a new benchmark for cross-regional retail cooperation, as we connect the consumers and rich cultural industries of the Middle East and Chinese-speaking markets. We are confident that the Chinese consumer brands, top-tier IP innovations, and the Gentry Club experience we bring will serve the rapidly growing retail market and young demographics well.“
This collaboration comes at a poignant time of strengthened alliance between the UAE and China as according to the Dubai Department of Economy and Tourism, Dubai welcomed approximately 824,000 visitors from China in 2024, an increase of around 31 percent from the previous year, signalling strong momentum and continued attention from Chinese travellers for both leisure and business markets. The joint venture is positioned to leverage this upward trend by offering new Chinese brands an exceptional first point of entry into the Middle East, with Wafi City acting as a strategic and culturally resonant gateway.
As part of Phase 1 of the partnership, ALMAD Group aims to introduce a range of prominent brands that capture the essence of Chinese culture to Wafi City. ZBR Bronze, a distinguished name in fine bronze craftsmanship, is celebrated for its exquisite artistry that blends traditional Chinese heritage with contemporary designs. Master Zhu Bingren, recognised as the “Father of Contemporary Chinese Bronze Architecture”, will be making his mark in the Middle Eastern market with an exhibition and a permanent store at Wafi City in 2026. Additionally, ALMAD Group will team up with innovative partners like ChaPanda, a tea drink brand renowned for its authentic and bold flavours, bringing the rich tapestry of Chinese tea culture to the Middle East. As Chinese brands continue to transition from manufacturing excellence to driving cultural commerce, Wafi City is poised to become a pivotal platform for their global expansion.
Riding on the rapidly growing anime and popular IP culture in the region, Wafi Anime 11 will launch a series of ticketed IP exhibitions to Wafi City Mall starting in 2026. As part of Wafi City’s transformation, these cultural IP experiences – including eGaming, K-Pop and anime – will be showcased through dynamic pop-ups and exhibitions, attracting a diverse audience of residents and tourists of all ages.
Under the newly formed joint venture, Wafi City will embark on its next major evolution. While preserving the heritage and architectural identity that have defined it for more than three decades, the destination will be revitalised through immersive experiences, contemporary cultural activations, innovative retail concepts and an expanded lifestyle offering curated by ALMAD Group. The planned transformation aims to honour Wafi City’s legacy while ushering in a new chapter that reflects Dubai’s dynamic trajectory and its increasingly globalised audience.
Following the signing, the joint venture will proceed into its formal establishment phase. In the months ahead, the partners will develop a comprehensive roadmap covering brand onboarding, cultural programming, experiential strategy and enhancements to the retail mix. The collaboration aims to support Dubai’s continued growth as a global cultural, commercial and lifestyle hub while offering an innovative gateway platform for Chinese and other international brands entering the Middle East.
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