Dubai’s famous landmark, the Pepsi factory located on Sheikh Zayed Road, may soon become a thing of the past as it has been sold to Al Futtaim Private Company LLC. The premises, owned by Dubai Refreshment PJSC, served as the bottling plant, warehouse, and office space for all Pepsi-related brands in the UAE.
The transaction, which took place on June 26, involved the sale of the property to Al Futtaim Private Company LLC for a whopping sum of AED 252 million. The details of the deal were made available on the Dubai Financial Market website, confirming the completion of the sale.
Dubai Refreshment PJSC, in an official announcement to the Dubai Financial Market, disclosed that the sale was prompted by the company’s decision to relocate its operations to Dubai Investments Park 2. As a result, the Pepsi factory was no longer being fully utilized by the company, leading to the decision to sell the property.
The shareholders of Dubai Refreshment PJSC approved the sale during a general assembly held on June 14, 2023. The AED 252 million generated from the sale of the property is expected to be recorded as a one-time gain in the company’s financial records.
The Pepsi factory on Sheikh Zayed Road has been a prominent and recognizable landmark in Dubai for many years. Its distinctive architecture and presence along one of the city’s busiest highways have made it an iconic symbol of Dubai’s urban landscape. The news of its sale marks the end of an era and the beginning of a new chapter for the property.
While the exact plans for the property have not been disclosed, the sale of the land to Al Futtaim Private Company LLC suggests that it will undergo a transformation in the future. Al Futtaim Private Company LLC is a well-known conglomerate with diverse interests in various sectors, including real estate, retail, and automotive. The company’s involvement in the acquisition hints at the potential for a new development or project at the location.
The sale of the Pepsi factory reflects the dynamic nature of Dubai’s ever-evolving landscape. As the city continues to grow and develop, older landmarks and properties are often repurposed or replaced to make way for new ventures and architectural advancements. This process of renewal and redevelopment is a testament to Dubai’s commitment to progress and its ability to adapt to changing needs and demands.
The Pepsi factory’s significance extends beyond its physical presence as a bottling plant. It holds nostalgic value for residents and visitors alike, symbolizing a bygone era and serving as a reminder of Dubai’s transformation into a global metropolis. The sale of such a recognizable landmark sparks reflections on the city’s rapid development and the continuous evolution of its urban fabric.
As Dubai Refreshment PJSC bids farewell to the Pepsi factory, the company can now focus on its new facilities in Dubai Investments Park 2. The relocation aligns with the company’s growth strategy and aims to optimize its operations in a more suitable and efficient location. Dubai Refreshment PJSC remains committed to serving its customers and meeting their beverage needs through its new facilities.
In conclusion, the sale of the iconic Pepsi factory on Sheikh Zayed Road in Dubai marks a significant milestone in the city’s ever-changing landscape. The AED 252 million transaction signals a new chapter for the property, which will now be in the hands of Al Futtaim Private Company LLC. As Dubai continues to evolve, the sale of iconic landmarks like the Pepsi factory underscores the city’s commitment to progress, adaptability, and innovation. While the physical structure may soon fade into history, its memory will live on as a testament to Dubai’s remarkable journey of growth and transformation.
