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FINANCIAL NEWS
Abu Dhabi commends USD1b Reem Mall project
06 Jul 2015
(MENAFN) Abu Dhabi Urban Planning Council (UPC) has given its official approval for developing the USD1 billion Reem Mall, the upcoming entertainment and shopping destination in the emirate, The Saudi Gazette reported.
The Concept Planning Report (CPR) consent marks a tremendous step in developing the scheme, set to be inaugurated in 2018 and will represent a huge addition for Reem Island.
Reem Mall will be grounded over 2 million square foot plot and will include retail, leisure, dining and entertainment venues. It will be developed by the National Real Estate Company (NREC) and United Projects for Aviation Services Company (UPAC).
“The UPC approval represents a major milestone in the development of Reem Mall, allowing the project to move closer to the construction phase,” the Chief Operating Officer of Reem Mall said.
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