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GIANT RETAIL, LEISURE HUB

Sheikh Nahyan at the Reem Mall foundation-laying ceremony.

Al Farwaniya lays foundation stone for $1.2bn Abu Dhabi mall

ABU DHABI, May 6, 2018

Al Farwaniya Property Developments today (May 6) laid the foundation stone for its ambitious retail project - Reem Mall, the biggest retail, leisure and entertainment destination in Abu Dhabi, being built at a cost of $1.2-billion on Reem Island.

Al Farwaniya Property Developments is a joint venture between Agility, Agility-affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC).

The project is located in the Najmat District on Reem Island, the residential and commercial master development by Reem Developers. Reem Island is planned to have a population of 200,000 on completion.

Reem Mall will boast 450 local and international brands, hypermarkets and department stores, along with a range of entertainment and leisure options such as Snow park Abu Dhabi, a destination snow park attraction, multiplex cinemas as well as 85 dining options covering every cuisine imaginable.

The ceremony was held in the presence of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance, as well as a number of senior Abu Dhabi government officials and industry leaders from the private sector.

High level dignitaries in attendance included: Liborio Stellino, Italian Ambassador to the UAE, Salah Mohammad Al Baijan, Ambassador of Kuwait to the UAE, Abdulhamid Saeed, Group Chief Executive Officer of First Abu Dhabi Bank and Managing Director of Reem Investments and Faisal Sultan, Chairman of the National Real Estate Company.

Al Farwaniya Property Developments CEO Shane Eldstrom said: "Reem Mall will become Abu Dhabi’s coveted retail destination complete with a spectrum of entertainment and dining options in the heart of the UAE capital."

"The foundation stone laying ceremony marks a significant day in history for this project, and brings us another step closer to our mission – to provide the residents and visitors of Abu Dhabi with an extraordinary retail and leisure experience," remarked Eldstrom.

Faisal Sultan, the chairman of the National Real Estate Company, said: "As an exceptional retail destination, Reem Mall is destined to provide the people of Abu Dhabi with a comprehensive range of leisure, entertainment, dining and shopping concepts."

"Since construction has begun, we have built a strong momentum for the project and look forward to delivering Reem Mall, which is bound to make a significant contribution to the development of Reem Island, a vital component to Abu Dhabi’s urban structure framework," he noted.

Reem Mall is set to offer 2 million sq ft of leasable area comprising 450 local and international brands, hypermarkets and department stores, along with a range of entertainment and leisure options such as Snow park Abu Dhabi, a destination snow park attraction, multiplex cinemas as well as 85 dining options covering every cuisine imaginable.

Stellino said: "I am honoured to witness the foundation stone laying ceremony for Reem Mall, which will be an exemplary retail landmark for the people of Abu Dhabi, with a special “Italian touch”, made of creativeness and skills, whose footprints can be found in several infrastructural masterpieces that surround us. UAE-Italy relations have always been exceptional, and with Itinera-Ghantoot JV as the lead contractor, we look forward to working closely with our partners here in Abu Dhabi, for the successful completion of Reem Mall."

Construction of the mall started in late 2017 with the awarding of a Dh2.3 billion contract to Itinera Ghantoot, a UAE-Italy joint venture.

The project, which is anticipated to be completed by late 2020, is going through a single-phase delivery and has been aligned with the master-planned development of Reem Island, which in itself has been building momentum over the years as a major residential and business centre.

Al Baijan said: "Through the long-standing relationship between the UAE and Kuwait, we have expanded our deep-rooted ties across a diverse range of fields, with particular focus on economy and investments."

"Being a part of Reem Mall’s foundation stone ceremony clearly reflects the cooperation between the two countries with the primary goal of bringing Abu Dhabi’s latest leisure attraction to life. The project will represent a milestone among the two neighbouring countries and I would like to extend my best wishes for the developers and stakeholders of this vibrant development," he added.-TradeArabia News Service




Tags: abu dhabi | Reem Mall | Foundation Stone | Al Farwaniya |

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