The construction of the Reem Mall set will be under Al Farwaniya Property Developments elaboration and the end of all works is set for the end of 2020. The company says that the construction of this $1,2 billion Reem Mall project has already commenced.
This announcement comes after the signing of a $457 million credit to close the financing question of this project and the appointment of Itinera Ghantoot, a UAE-Italy joint venture, as a lead contractor in 2017.
Al Farwaniya Property Developments didn’t lose their time in the first three months of 2018. They have carried out their plan with huge areas of excavations and backfill and they have completed several major structural concrete pours for this project. Seven of the fourteen tower cranes are already constructed on site and the remainder is going to be finalized by the end of this month, the developer said.
Reem Mall will deliver 2,8 million square feet of retail, 450 stores, 85 F&B outlets, world-class leisure and family-focused entertainment facilities. It will also comprise a snow play park – Snow Park Abu Dhabi. The mall itself is positioned on Reem Island in the centre of Abu Dhabi and will offer 6 800 vehicle spaces. At the completion of this project, Reem Island plans to have the population of 200 000.
Shane Eldstrom, CEO of Al Farwaniya Property Developments, had this to say: “We have taken the time to thoroughly plan the financing and the physical construction of the project to ensure that it delivers a world-class destination that Abu Dhabi and the wider UAE can truly be proud of”.