Abu Dhabi giant mall to open on F1 race day
Abu Dhabi, February 2, 2014
Aldar Properties has announced plans to launch Abu Dhabi’s biggest mall, comprising over 300 stores, 20 screen cinema, hypermarket and family entertainment on the final race day of this year's Formula OneWorld Championship.
Aldar's super-regional retail destination, Yas Mall, to be built on 2.5 million sq ft area, is the important final retail component of Yas Island, a major new leisure and entertainment destination in the UAE capital.
The top Abu Dhabi developer said the race puts the public spotlight firmly on Yas Island, making it the ideal moment to launch Yas Mall.
Yas Mall offers a new and unique experience as it is directly connected to Ferrari World Abu Dhabi making it one of the world’s largest entertainment, leisure and retail destinations.
Yas Mall is set to transform the retail landscape in Abu Dhabi by introducing a mix of well-known international brands and new concepts.
Over 80 per cent of the space is committed to major international retail groups that own and represent some of the highest profile brands in the world. These groups include; Al Shaya, Majid Al Futtaim, Landmark, Dubai Holding, Azadea, Paris Group, Royal Sporting House, Al Futtaim, Retail Arabia and Fucom.
Yas Mall will open with over 300 stores, growing to over 400 stores and outlets comprising an exciting range of leading international and regional retail and F&B brands, a 20 screen cinema operated by VOX Cinemas, the largest hypermarket in Abu Dhabi which will be operated by Geant and a family entertainment zone.
The construction of the mall is now complete and the handover of units to tenants for fit-out has already begun. With the completion of Yas Mall, Aldar will become the largest owner and manager of retail space in Abu Dhabi, said a senior official.
"Yas Mall will help draw people to Abu Dhabi with its incredible range of attractions. It will be a significant addition to the wider Yas Island offer and a major contributor to the economy, both directly and indirectly," remarked Mohammed Al Mubarak, the deputy CEO of Aldar.
"The mall will be a major part of our corporate strategy to strengthen recurring revenues, bringing stability and consistency to underlying earnings," he stated.
John Hadden, the senior VP Property at Al Shaya, said: "Yas Island is already drawing a wide variety of people to its world-class attractions and the Mall will work to significantly increase this. Over 30 of our top brands will be ready and open at launch, including the largest Debenhams in the region and the first Cheesecake Factory in Abu Dhabi.”
Ahmed Galal Ismail, the CEO of Majid Al Futtaim Ventures, said: "Yas Mall is an important part of our growth strategy as we look to expand our brands in the capital. VOX Cinemas will be rolling out its latest premium Gold cinemas, large screen MAX cinema and new 4DX technology, which combine to offer a unique cinema experience to visitors of all ages."
"Yas Mall offers us the best platform to roll out our newest American and European brands including the introduction of Hollister and a Lego concept store.," he added.-TradeArabia News Service