Al Farwaniya Property Development, a joint venture between Kuwaiti developers National Real Estate Company (NREC) and United Projects for Aviation Services Company (UPAC), has received its developer licence from the Abu Dhabi Department of Municipal Affairs under the provisions of the new real estate law which came into effect on January 1, 2016.  

The company is presently developing the ambitious Reem Mall project, which on completion is poised to become Abu Dhabi's major retail, leisure, dining and entertainment destination.

The $1-billion retail development comprises around 450 stores including 85 food and beverage outlets, a diverse palette of entertainment offerings, hypermarket, four department stores, a multiplex cinema, two food courts and the world’s largest indoor snow play park, said a statement from Al Farwaniya.

The UAE developer broke ground on the project at Reem Island in December last year and is expected to open the mall in late 2018, it added.

Shane Eldstrom, the chief operating officer for Al Farwaniya, said: "We are excited to receive our developer licence. This milestone is indicative of our commitment to Abu Dhabi’s construction landscape and the development of world-class projects."

"The licensing of developers is a positive step for Abu Dhabi as it continues to establish itself as a world leader in urban planning and development," he added.

“Reem Mall is poised to deliver an unprecedented retail, food and beverage as well as a family-focused entertainment offering spread across two million sq ft of leasable space with a total floor area of more than 2.8 million sq ft.”

Strategically positioned within the new master-developed and commercial zone of Reem Island, the reatil destination will be easily accessible to and from Abu Dhabi’s mainland, said the statement.

Offering a significant 6,800 parking spaces for shoppers’ convenience, Reem Mall promises a unique experience which combines best-in-class shopping and entertainment that will enhance Abu Dhabi’s leisure and lifestyle atmosphere.-TradeArabia News Service