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Abu Dhabi's $1.2bn mall development enters fast-track

ABU DHABI, September 2, 2018

Work is in full swing at Abu Dhabi's $1.2-billion Reem Mall, a leading retail, dining and leisure destination coming up in the UAE capital, with more than 120,000 cu m of reinforced concrete already cast in place, with some sections now reaching level 4.

The work on the mall began at the end of 2017, with the foundation stone laid earlier this year. It is progressing smoothly and is in line with the planned construction and finance targets, said its developer Al Farwaniya Property Developments.

It is a joint venture between three Kuwait-based companies - logistics giant Agility, its affiliate United Projects for Aviation Services Company (UPAC) and National Real Estate Company (NREC).

Together, the trio brings a sound financial base, extensive experience in asset management and commercial real estate development, and a successful track record of  mall operations for the mega-mall project.

As of August, more than 14 tower cranes have been erected for the project, it stated.

Once completed, the project will encompass 350,000 cu m of reinforced cement concrete, 75,000 tonne of rebar, 10,000 tonne of structural steel and 75,000 sq m of pre-cast hollowcore concrete panels for a total built up area of over 650,000 sq m, it added.

On the project progress, CEO Shane Eldstrom said: "With construction that commenced during the latter part of 2017 and with a team of 4,000 workers on site, Reem Mall is well on its way to becoming the most exciting addition to Abu Dhabi’s retail and social landscape."

It will comprise 450 stores, including 85 F&B (food and beverages) outlets and a range of family-focused entertainment offerings, including Snow Park Abu Dhabi by Majid Al Futtaim.

It is located in the Najmat District on Reem Island and is part of the residential and commercial  master development by Reem Developers. The island is expected to have a population of 200,000 people when fully built.

"Reem Mall will be a unique lifestyle destination - a place which will bring in families, friends and communities together," observed Eldstrom.

"In addition to the world class retail, leisure and entertainment offering, the mall will boast vital infrastructure and improved connectivity, ensuring that our investment in Abu Dhabi continues to benefit local communities in the future," he added.-TradeArabia News Service

Tags: abu dhabi | Agility | retail | Leisure | Kuwait group |

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