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 center of Abu Dhabi and will offer 6 800 vehicle spaces. At the completion of this project, Reem Island plans to have a 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”.