Aswaq Management & Services (AMS), the Abu Dhabi-based mixed-use property consultancy, today signed the retail consultancy and leasing assistance agreement for Reem Mall.

The mall is located on Reem Island in Najmat Abu Dhabi.

National Real Estate Company (NREC), a publicly quoted company both in Kuwait and in Dubai with a diversified portfolio of enterprises, is the developer of Reem Mall.

The agreement was signed between Nasser Al Nowais, chairman, AMS and Jamil Sultan Al Eissa, chairman, NREC, at the Cityscape Abu Dhabi. Also present at the signing was NREC general manager, Khaled Al Abdallah.

Al Nowais said: “The retail avenues in the UAE capital are expanding at an enormous rate and there has been a notable shift towards the provision of international standard shopping malls. In this regard, we are extremely delighted and proud to sign the consultancy agreement for Reem Mall located on one of the most impressive tourist developments in the world – Reem Island.”

Reem Mall will host the largest hypermarket in Abu Dhabi and will be operated by The Sultan Centre from Kuwait. The leisure activities in the mall include an iconic family entertainment Centre, 15 screen cinemas, and comprises of roof top amenities with gardens including fine dining restaurants.

The mall offers a Gross Leasable Area (GLA) of 200,000 sq m with 700 outlets. In addition, it provides over 10,000 parking space and is scheduled to open in the first quarter of 2012. The mall has received an overwhelming interest from major retail groups of the region. 

Al Eissa, chairman, NREC, said: “We foresee tremendous growth prospects in the emirate and with the opportunity to develop a shopping destination with world class renowned brands all under one roof, we required top grade consulting and assistance. The mall has already received an overwhelming interest from major retail groups of the region. AMS has an edge over the others that is clearly evident with their vast experience and quality products delivered over time. We strongly believe that together we will be able to deliver a unique and outstanding mall where the customers will have a rejuvenating shopping experience”.
                               
AMS provides consultancy, leasing and management services for various projects in the region. AMS and its regional affiliates in the GCC-Levant region - AMS-Dubai, Gulf Management & Services in Bahrain, Beirut Real Estate Management & Services s.a.l. in Lebanon and Amman Real Estate & Management Services in Jordan manage 17 projects, covering a combined Gross Leasable and / or Sellable Area (GLA / GSA) of over 5 million sq m. – TradeArabia News Service