AL Farwaniya, Developer for Reem Mall Receives Developer License
13 APRIL 2016, Abu Dhabi, UAE
Al Farwaniya Property Development, LLC, the partnership established between NREC and UPAC for the development of Abu Dhabi’s major new up and coming retail, leisure, dining and entertainment destination Reem Mall, has received its Developer License from the Abu Dhabi Department of Municipal Affairs under the provisions of the new Real Estate Law which came into effect 1st January 2016.
Shane Eldstrom, Chief Operating Officer for Al Farwaniya, commented: “We are excited to receive our developer license. This milestone is indicative of our commitment to Abu Dhabi’s construction landscape and the development of world-class projects. The licensing of developers is a positive step for Abu Dhabi as it continues to establish itself as a world leader in urban planning and development.”.
“Reem Mall is poised to deliver an unprecedented retail, food and beverage as well as a family-focused entertainment offering spread across 2 million sq. ft. of leasable space with a total floor area of more than 2.8 million sq. ft.”.
Comprising around 450 stores including 85 food and beverage outlets, a diverse palette of entertainment offerings, hypermarket, four department stores, a multiplex cinema, two food courts and the world’s largest indoor snow play park, the $1 billion retail development’s construction broke ground on Abu Dhabi’s Reem Island in December 2015.
Strategically positioned within the new master-developed and commercial zone of Reem Island, Reem Mall will be easily accessible to and from Abu Dhabi’s mainland. Offering a significant 6,800 parking spaces for shoppers’ convenience, Reem Mall promises a unique experience which combines best-in-class shopping and entertainment that will enhance Abu Dhabi’s leisure and lifestyle atmosphere. Developed by NREC and UPAC, Reem Mall is expected to open in late 2018.