Agreement with Majid Al Futtaim Ventures - NREC and UPAC announces new deal
16 APRIL 2017, Abu Dhabi, UAE
Abu Dhabi’s Reem Mall, developed by NREC in partnership with UPAC has announced a significant new partnership with Majid Al Futtaim Ventures, the leisure, entertainment, fashion and business arm of Majid Al Futtaim. The agreement will see Majid Al Futtaim Ventures brings its wide range of leisure and entertainment destinations – including the region’s first standalone, themed, indoor snow park – to the more than US$ 1 billion project.
Through this collaboration, Reem Mall will also host the next generation of concepts from award-winning VOX Cinemas, including the large format MAX screens, fine dining Theatre by Rhodes and the children focused VOX Kids. For the first time, VOX Cinemas will be fused with Magic Planet, the region’s largest network of family entertainment centres, to create an all – new leisure environment.
This is also the first time that Majid Al Futtaim Ventures has announced an indoor snow entertainment concept outside Majid Al Futtaim’s owned shopping malls, building on the success of Ski Dubai over the years, and the highly positive response to Ski Egypt, which opened in Cairo’s Mall of Egypt earlier this year. The bespoke 125,000 sq. ft. Abu Dhabi snow attraction will be a dedicated snow park and is set to include a variety of activities and experiences to be enjoyed by the entire family – from sledging to zorbing to luge.
The entertainment offering will make up almost 202,000 sq. ft., which accounts for 10 per cent of the total mall space, emphasizing the growing significance of leisure in the success of a modern retail environment.
Commenting on the news, NREC CEO Samuel Sidiqi said: “Reem Mall is one of our landmark projects in the region, and we’re very excited about our new partnership with Majid Al Futaim Ventures to offer visitors iconic leisure and entertainment concepts and truly memorable experiences.”
Shane Eldstrom, Reem Mall Chief Executive Officer said: “As one of the most ambitious and exciting retail and leisure projects ever undertaken in Abu Dhabi, we share Majid Al Futtaim’s commitment to continued growth and innovation. As the UAE capital continues to enhance its position as a global tourism and leisure hub, this new partnership marks a significant milestone not only for Reem Mall, but also for the region’s wider entertainment offering. We now look forward to bringing our shared vision to the UAE capital and creating spectacular visitor experiences for decades to come.”
Ahmed Galal Ismail CEO of Majid Al Futtaim Ventures said: “Over the years, Majid Al Futtaim’s Leisure & Entertainment and Cinemas business have established themselves as the go-to providers of innovative and successful leisure and entertainment concepts for retail developers in the region, and with Reem Mall we have taken this one step further by creating a unique and bespoke offering that will not only anchor the mall, but transform it into a lifestyle destination. We are in the business of creating great moments, and so are partnering with Reem Mall in the same way we do with our own shopping malls to ensure that our entertainment concepts are curated and created for the best guest experience.”
This is the second collaboration between Reem Mall and Majid Al Futtaim after previously signing a deal to open a Carrefour hypermarket at the upcoming Abu Dhabi destination.
Reem Mall will deliver 2 million sq. ft. of leasable area (2.9 million sq. ft. of floor area) of retail, leisure, dining and entertainment offerings on Abu Dhabi’s Reem Island.
Comprising around 450 stores housing local and international brands, 85 of which will be Food and Beverage outlets, as well as a range of family-focused entertainment and edutainment anchors, Reem Mall will be a unique addition to Abu Dhabi’s family leisure attractions.