Global real estate advisor CBRE has been exclusively appointed by Jubail Island Investment Company (JIIC) to support the leasing strategy and day-to-day leasing of the retail component within Phase 1 of Abu Dhabi’s new megaproject - Jubail Island.
Developed by JIIC, the Jubail Island development will be an idyllic collection of villages located between Yas Island and Saadiyat Island and will become Abu Dhabi’s leading sanctuary designed to appeal to wellness and nature enthusiasts, positioned amid the rich biodiversity of the mangroves.
Spanning 500 hectares, the masterplan will offer wholesome F&B outlets and a wide range of facilities, including a beach club, a business centre, a sports centre, schools, supermarkets, nurseries, a community club, specialised clinics and other commercial establishments, with the first phase of the project scheduled for completion by the end of 2023.
JIIC Chief Business Officer Mahmoud Dandashly expressed delight at having appointed CBRE as its partner of choice for the group's retail leasing advisors.
"Jubail Island’s retail offering is essential in the development of the island and we look forward to strengthening our partnership with CBRE and working together to create a lively retail district in the heart of the capital," he added.
Anthony Spary, Head of Office Investor Leasing & Retail at CBRE Middle East, said: "We are very proud to be the trusted partner of Jubail Island. Set to become the premium residential community within Abu Dhabi, Jubail Island will deliver something totally new to the capital city, providing an ecosystem never seen before in the emirates."
"We are truly excited to work on the retail component to ensure that together with JIIC, we deliver something unique and special to what is already an extraordinary project," he added.