ABU DHABI // The opening of a 700-store shopping centre on Yas Island has been pushed back by a year, with the developer, Aldar, planning to use the extra time to cut costs by 30 per cent.
Steve Worrell, the director of Yas Island, which will host the Abu Dhabi Formula One Grand Prix in November, said Yas Mall was now expected to open in March 2012.
“The cost has become the driver, as opposed to schedule, and I think that’s the big difference,†said Mr Worrell. “We’re spending a little more time, and maybe some significant time, to drive the best value, to get the lowest price. The whole [economic] condition has changed.â€
The developers would look at design tweaks such as air conditioning, lighting and finishing to reduce the budget by a third, but would not change the design significantly, he said.
One cost-cutting change to the shopping centre was replacement of the planned wavy roof design with a flatter one, Mr Worrell said. more…
DTZ, the real estate advisory firm, today released a market report on Abu Dhabi giving detailed insight into the city’s real estate sector.
Philip Gray, UAE Country Manager said, ‘The report gives an overview of the Abu Dhabi real estate market across residential, commercial, retail and hospitality sectors and comments on the Emirate’s outlook in light of the current economic conditions.’
‘The report concludes that Abu Dhabi’s real estate market is relatively well placed to weather the economic downturn, given that government-backed real estate organisations in the city are well funded and have the capacity to rationalise, phase or delay developments to mitigate oversupply risks. Furthermore, Abu Dhabi is performing well in comparison to regional and global counterparts across all asset classes,’ Gray added. more…
The Souk at Qaryat Al Beri, the first waterfront shopping, dining and entertainment destination in Abu Dhabi’s ‘Between the Bridges’ district, has crossed the 150,000-shopper mark within five months of its opening, underlining the rapid growth of the capital’s new satellite communities.
The Souk footfall announcement is a promising indicator and validation for the Qaryat Al Beri Resort Development Company, a joint venture between the Al Jaber Group and the Abu Dhabi Tourism Development and Investment Company.
Fatima Al Jaber, General Manager of Qaryat Al Beri Resort Development Company LLC, said:
‘The Souk at Qaryat Al Beri is well on its way to becoming the shopping, dining and entertainment destination of choice for families in and around Abu Dhabi and across the emirates. We are pleased that the Souk, a major component in the Qaryat Al Beri waterfront development, has resonated with so many people in a short amount of time.’ more…
Silsila Trading Development today opened the doors of their latest hospitality venture, Tiara, a Mediterranean and Western fused fine dining establishment located in the heart of Abu Dhabi’s landmark tower Burj Al Marina.
Tiara is the first of its kind and adds to Silsila’s portfolio of international franchises that includes Biella Restaurant Café, Au Bouquet Romain (ABR), the unique Belgian gourmet restaurant and salon de thé, and Colombiano Coffeehouses.
Tiara’s flagship restaurant is located at the Marina Mall Tower, Burj Al Marina, and is lead by internationally renowned head chefs Joe Barza and Zak Hamdou. Joe hails from Lebanon and holds the prestigious title of Executive Chef at international restaurant chain ‘Chase’.
He also holds the title of World Champion of Tuna in 2006 and is the Head of delegation of the National selection teams for the world renowned ‘2009 Bocuse d’Or World Cuisine Contest’. Zak hails from the United Kingdom and used to work for the elite restaurant of ‘La Tante Claire’ in London under one of the top chefs of the world.
Chairman of Silsila Trading, Ahmed Mohamed Al Rumaithy, commented on the opening of their new establishment:
‘We are very excited to be sharing this vision of fine dining with the people of the UAE and are honoured to have our flagship restaurant here in the beautiful Burj Al Marina in the country’s capital of Abu Dhabi. This fusion of eastern and western cuisines fits perfectly with the regions culturally varied population and we hope to be opening many more chains of Tiara soon.’ more…
The amount of mall retail space in Abu Dhabi will almost double in the next two years, Robert Ziegler, the vice president of the Dubai-based consultancy firm AT Kearney, told The National. The total amount of retail space in the emirate’s shopping centres will grow from about 700,000 square metres to 1.2 million sq metres by 2010, he said.
(Publihed on http://www.ameinfo.com/188728.html on March 16 - 2009)
Huge demand exists in Abu Dhabi for a major growth in shopping malls, a leading developer has claimed.
Charles Acworth, director research and head of commercial leasing for Aldar, described Abu Dhabi as becoming “the location of choice in the Middle East†for retailers in comments made to the first Cityscape Connect business breakfast.
As an example of the growth potential of the Abu Dhabi mall market, he said that at weekends up to 30 percent of vehicles in the car parks of two major malls in Dubai were from Abu Dhabi, adding he was “very, very confident†about the retail prospects for the UAE capital.
He was similarly upbeat about both the hotel and residential sectors.
Although some “reworking†was taking place there was still an undersupply of residential property for end user occupiers and he saw that need extending for five years or more. more…
UAE. Abu Dhabi Airports Company (ADAC) opened Abu Dhabi International Airport’s new Terminal 3 earlier this week with a retail proposition that will clearly rank in the highest echelons of the business worldwide.
The store features around 2,600sq m of retail space, and a range of 19 boutiques, plus dedicated areas for a range of categories including liquor and tobacco; fragrances & cosmetics; sunglasses; watches; and food and confectionery, all run by DFS Group. A pharmacy (Boots), plus books (Relay’s regional debut), consumer technology (Sharaf) and gold (Pure Gold) stores complement the powerful core category line-up.
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Dalma Mall is located in Abu Dhabi - Tarif - Al Ain Highway in the ICAD City, Mussaffah, Abu Dhabi in just a 20 Minutes drive from the Main land of Abu Dhabi.
Located to the east of the island of Abu Dhabi, It is an excellent location at the intersection of several most rapidly developing areas in Abu Dhabi. more…
DON’T be fooled by their mystery and modesty.
Those Muslim women covered head to toe in traditional black abayas are the ones jauntily swinging (genuine) designer handbags from their gold-adorned arms, the latest mobile phone attached to their ears, beautiful make-up around their eyes and, more likely than not, expensive modern attire under their voluminous robes.
Such is the contradiction of Abu Dhabi, on the Arabian Peninsula.
To me, the name Abu Dhabi conjured images of cobbled streets, dark souks, oceans of desert and a touch of mystery.
Well, I was right about the desert.
In reality, Abu Dhabi, the wealthiest of the seven United Arab Emirates (oil, and lots of it) and recently tagged the richest city in the world, is among the most modern, clean, safe, child-friendly cities in the world.
There’s not a cobblestone in sight, let alone a dark underbelly. Well, not one that tourists would see anyway. more…
Aldar Properties, Abu Dhabi’s leading property development, investment and management company today unveiled plans to build a signature Super Regional Mall as part of Abu Dhabi’s premier retail and leisure destination at Yas Island.
Leading retailers, property developers and investors attending MAPIC, one of the world’s major retail real estate events, will have a closer look at Aldar’s “Yas Mallâ€, a Super Regional facility which will provide in excess of 700 retail and catering units including four major department stores and six hotels.
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