Construction begins on Abu Dhabi's $1.2bn Reem Mall

Construction begins on Abu Dhabi's $1.2bn Reem Mall
Construction work has begun on Abu Dhabi's $1.2bn Reem Mall.
Published: 22 April 2018 - 5:33 a.m.
By: Neha Bhatia

Construction work has commenced on the $1.2bn (AED4.4bn) Reem Mall in Abu Dhabi. 

Al Farwaniya Property Developments, the developer behind Reem Mall, said work began after a $457m (AED1.7bn) senior credit facility was signed to complete project financing.

Itinera Ghantoot, a UAE-Italy joint venture, was appointed as the project's lead contractor in late 2017.

The construction of the mall started in late 2017, and is planned to be completed by end 2020.

In Q1 2018, "vast areas of excavation and backfill have been carried out and several major structural concrete pours have been completed", the developer revealed.

Seven of 14 planned tower cranes have been erected on site, with the remaining to be finalised by the end of the month.

The 27ha Reem Mall, located in Reem Island's Najmat District, will feature the Snow Park Abu Dhabi. 

The project is being developed by Al Farwaniya Property Developments, a partnership between three Kuwait-based companies – Agility, Agility-affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC).  

Commenting on construction commencement, Shane Eldstrom, chief executive officer of Al Farwaniya Property Developments, said: "Reem Mall will set a new benchmark for shopping, leisure, and entertainment in Abu Dhabi and beyond.

"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.

"Construction on Reem Mall started late last year and we look forward to delivering this new lifestyle, retail, and entertainment destination." 

 

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