Al-Futtaim unveils mixed use project in Dubai
Al-Futtaim has broken ground on a mixed use development in Dubai that combines living, working and entertainment with popular retail brands including Dubais second IKEA and an Al Futtaim ACE hardware store.
The company plans to expand its retail offering through the development of the new mall, located in Jebel Ali, along the main Abu Dhabi Dubai Highway.
In the first phase of development, the new retail offer will include a variety of retail brands within around 55,000 sq. metres of leasable space.
Alongside IKEA, which will be home to an international training centre for the IKEA family, an additional 100 retail stores are also being leased, all set to be completed by Q1, 2019.
The new ACE outlet will offer more than 33,000 products including exclusive ranges for ACE, worx power tools, Addis home products and Broil King barbeque brands.
Phase 2 of the development will include wasl Gate, a residential precinct developed by wasl properties that will include 1,457 homes, accompanied by a hospitality and entertainment offering, a world-class sports complex, K-12 schools with international curriculums, and a central park connecting the communitys commercial and residential neighbourhoods.
The mall is strategically located to offer ease of access from Sheikh Zayed Road and the Energy Metro Station, which is situated only 450 metres from the site.
Omar Al Futtaim, Vice Chairman of Al-Futtaim said: As a privately-owned company guided by an entrepreneurial spirit, we always take a long-term view of the market by planning ahead, and this project firmly positions our retail footprint in a high growth potential area of Dubai slated to witness a population growth spurt during the build up to Expo 2020 and well beyond.
Marc Hewitt, Chief Development Officer at wasl Asset Management Group added: The primary focus for the first phase of wasl Gate is modern, attractive residences designed for young professionals and families, so we are delighted to be working in partnership with Al-Futtaim.
The second phase will see the expansion of the development to include more living and leisure spaces, including landscaped parks, a sports centre, showroom spaces, and park-side residential offerings.