Azadea to open 11 new stores at $1.2bn UAE mall
Premier lifestyle retail company Azadea Group has joined hands with Kuwait-based Al Farwaniya Property Developments to open 11 new stores at the $1.2-billion Reem Mall, Abu Dhabi’s new entertainment, dining and shopping destination, located 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).
As part of the agreement, Azadea will bring 11 influential brands to Reem Mall, covering a total area of more than 4,200 sq m.
The group’s popular franchise brands such as Virgin Megastore, Massimo Dutti, Bershka and Paul will add further value to the mall’s retail offering.
Commenting on the deal, Shane Eldstrom, the chief executive of Al Farwaniya Property Developments, said: “Our mission is to provide shoppers and visitors with a world-class retail experience and this significant new agreement with Azadea Group brings us closer to achieving this ambition.”
“Azadea Group is a highly respected premier lifestyle retail company and they share our passion and commitment of the highest quality standards in customer care. We are very pleased to be enhancing Abu Dhabi’s retail landscape by working alongside them,” noted Eldstrom.
Marwan Moukarzel, the deputy chief executive at Azadea Group said: “Our partnership with Reem Mall embraces our mission to further extend our promise in the wider Mena region of continuously providing entertaining and exciting experiences to our customers and people through great retail space.”
“Overall, we are certain that this will only bring forth great outcomes and further cement our presence in the UAE, especially in the city of Abu Dhabi. We look forward to working with Reem Mall on the launch of this great new project,” he added.
The mega retail destination, located on Abu Dhabi’s Reem Island, is set to offer 2 million sq ft of leasable area comprising around 450 stores, of which 85 will be food and beverage (F&B) outlets, as well as a range of family-focused entertainment and edutainment anchors including Snow Park Abu Dhabi, a destination snow park attraction.
It is located in the Najmat District on Reem Island, the residential and commercial master development by Reem Developers, which will boast a population of 200,000 once completed.-TradeArabia News Service