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Manazel gears up to open $292m mall

Abu Dhabi, December 25, 2011

Manazel Real Estate, a leader in developing middle income housing communities, has announced the upcoming launch of its Dh1.072 billion ($292 million) Capital Mall, part of a 230,000 sq m master development in Abu Dhabi.

The mall is part of the major project “9712 Capital”, located in the heart of Mohammed Bin Zayed City in close proximity to the new 2030 Abu Dhabi Capital.

Capital Mall will consist of three stories spanning 60,158 sq m of commercial retail spaces to house 278 top brand fashion, electronics, jewelry, accessory, and service retail stores, in addition to entertainment outlets which include a diverse selection of restaurants and cafes.

“We are happily anticipating the opening of Capital Mall, which reflects Manazel Real Estate’s continued dedication towards the commercial and residential property growth of the new 2030 Abu Dhabi Capital and its place as a new major attraction for visitors looking for shopping and entertainment opportunities,” said Mohamed Mehanna Al Qubaisi, chairman of Manazel Real Estate.

“Capital Mall has been completed in accordance to its proposed deadline, built according to quality and environmental protocol procedures and recently received the Building Completion certificate from Abu Dhabi’s local authorities becoming yet another great symbol of Manazel Real Estate’s achievements,” he added.

Al Qubaisi said that Manazel has signed contracts with several large local and global brands, lead by Geant Hypermarket, as part of their recent deal to open its first branch in Abu Dhabi at the Capital Mall, where it will be occupying 7200 sq m providing the mall’s visitors with their daily shopping needs.

Capital Mall will be ready for its soft launch during the first quarter of 2012, with its official opening set for the second quarter.

Al Qubaisi stated that the mall be an important addition to the area, due in part to its prime location in the new Capital District, where it will be providing its services to residents of Mohammed Bin Zayed City, as well as to neighboring areas such as Khalifa City, Al Falah, Al Raha Beach, Bani Yas, Al Shawamekh, in addition to other Capital District developments currently under construction in the area.

Al Qubaisi concluded by saying: “Capital Mall will contribute to introducing new life into the area and will revitalize it in accordance to the Abu Dhabi 2030 vision of residential development within the new Capital District area.”

Arif Shaikh, managing director of Retail Arabia the operating company for Géant hypermarket said, “Our decision to open Géant hypermarket at the Capital Mall is because of the prime location. Its proximity to the Abu Dhabi International Airport places it in a unique position to attract shoppers not only from Abu Dhabi but also from Al Ain, Mussafah and Dubai.”

“This coupled with the malls superior design and the management’s vision of international retailing standards makes the Capital Mall an ideal partner of choice for our brand. This will also help strengthen the Geant brand in the region and give us economies of scale with suppliers to negotiate good deals and prices to ensure our customers get maximum value.”

Fahed Hareb, chief commercial officer of Manazel Real Estate, said that the interior design of the shopping centre differs from many other shopping malls in that it provides its visitors with an oasis-like environment, Capital Mall will house a grand atrium providing an abundance of natural light and a unique platform for events, promotions and customer intrigue due to the design including water fountains.

The shopping centre is designed for a smooth flow of pedestrian traffic allowing its visitors to move through the mall with ease by providing an ample 3000 space parking lot over 3 basement levels, which includes handicap parking spots and valet services.

“We have commissioned DTZ, as our agency of choice to manage leasing of all retail spaces within Capital Mall”, added Hareb.

“With Abu Dhabi’s competitive market, Capital Mall succeeds in offering a complete combination of shopping and leisure in one pronounced location, as well as being an exceptional addition to the area’s commercial and retail market,” Hareb continued.

“Great care has been taken in the selection of the brands that will occupy retail spaces within the mall, which encompasses popular globally recognized names, in addition to some that will be entering the region for the first time,” he concluded. – TradeArabia News Service




Tags: retail space | Manazel Real Estate | Capital Mall | 9712 Abu Dhabi | Master development |

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