Abu Dhabi retail space to grow 42pc
Abu Dhabi, October 13, 2010
The retail space in Abu Dhabi is set to record as much as 42 per cent growth by 2012 as several new projects come up in the emirate, according to recently published statistics.
This estimate is in line with the UAE capital’s ‘Plan 2030’, which aims to provide 1.3 sq. m of retail space for each resident of the emirate.
Given the impressive numbers recorded by Abu Dhabi in terms of salaries, disposable income and overall wealth, the city is set to witness a wave of new retail establishments including three new malls and the first phase of the Central Market project.
Among the new projects in the capital that are attracting shoppers and tourists is the ‘Souk at Qaryat Al Beri’, the premier waterfront dining, shopping and entertainment destination located in ‘Between the Bridges'.
The project has been developed by Qaryat Al Beri Resort Development Company, a joint venture between Al Jaber Group and the Tourism Development and Investment Company (TDIC).
Offering quality, value and convenience, the ‘Souk at Qaryat Al Beri’ is quickly becoming a fixture in Abu Dhabi's new communities of Khalifa City and Mohammed Bin Zayed City, the company said in a statement.
Housing a wide range of leading local, regional and international brands, The Souk at Qaryat Al Beri has recently opened its doors to new F&B facilities including The Meat Company, Noodle House, Lebanese Abdul Wahab Restaurant, and Abela.
The Souk already boast of top-quality restaurants including Certo, Eight, Left Bank, Le Paradis Du Fruit, Mombasa Grill, Red Carpet, Sho Cho, Starbucks and Ushna, said Qaryat Al Beri in the staement.
In addition, leading fashion and luxury outlets will also set up shop at The Souk, such as Diamond Direct, Pure Gold, Damas, La Perla, Bateel, La Moda and the art store Gallery One.
'As the premier waterfront dining, shopping and entertainment destination between Maqtaa and Musaffah bridges, the sprawling retail and leisure hub spans 6,222 sq. m. in an area adjacent to the Shangri-La Hotel district, and houses retail and F&B outlets and alfresco dining terraces overlooking the waterfront, it added.
According to the company, the project has crossed the 300,000-shopper mark in the first nine months of 2010, thereby underlining the rapid growth of the capital's new satellite communities.-TradeArabia News Service