10 new Middle East mallsBe the first to comment 26 April 2012
Abu Dhabi still might not be able to match Dubai on the retail front, but with the new Yas Mall on its way, this will not be the case for long. Despite missing its original scheduled completion date of 2011, the mall has managed to retain the interest of several retail heavyweights, signing deals with firms such as MH Alshaya, the Landmark Group, Dubai Holding Group, Royal Sporting House and Liwa Trading. Developer Aldar Properties says the mall will have more than 235,000 sqm of retail space when it opens in Q4 of next year, 95 percent of which it expects to have leased out to retailers by the end of 2012. Upon completion, the whole development will feature some 700 retail and food units including four major department stores and six hotels, and will be connected to tourist destinations such as Ferrari World Abu Dhabi, the Yas Island water park and the Formula 1 Yas Marina Circuit. Geant is set to be the mall’s anchor tenant, after holding company Retail Arabia signed a long term year lease agreement with Aldar for a hypermarket spread over an area of more than 16,000 sqm and stocking over 65,000 products. According to reports, the mall’s Ikea store will be also the largest in the whole of the MENA region.
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