Abu Dhabi: Al Farwaniya PD lays foundation for $1.2bn Reem Mall
Al Farwaniya Property Developments laid the foundation stone for its retail project – Reem Mall, the biggest retail, leisure, and entertainment destination in Abu Dhabi, being built at a cost of $1.2bn 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.
Al Farwaniya Property Developments CEO, Shane Eldstrom, said: “Reem Mall will become Abu Dhabis 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.”
Faisal Sultan, chairman of the NREC, 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 Dhabis urban structure framework.”
Reem Mall is set to offer 18.5ha 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.
Construction of the mall started in late 2017 with the awarding of a AED2.3bn 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.
Salah Mohammad Al Baijan, Ambassador of Kuwait to the UAE, 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 a particular focus on economy and investments. Being a part of Reem Malls foundation stone ceremony clearly reflects the cooperation between the two countries with the primary goal of bringing Abu Dhabis 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.”
