Economy, Business And Markets

Aras FTZ Building Mall

Aras FTZ Building MallAras FTZ Building Mall

Iran’s northwestern free trade zone called Aras has announced it has broken ground on its largest shopping mall yet, according to the free trade zone’s website.

The new mall, called Aras Brand, will host over 100 stores, with many Turkish companies expressing interest in the site.

When completed, the mall will have a food court and coffee shops along with a hotel for visitors visiting the free zone.

In January, Aras Free Zone authorities announced they had attracted $300 million in investment from local and foreign business owners for the development of the zone.

This follows a prior commitment by the administration in Tehran to support the development of the zone in the past 12 months.

Aras Free Zone is the largest decentralized economic area within the borders of the Islamic Republic.

The zone borders Turkey, Armenia, Azerbaijan and  Nakhchivan.