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FINANCIAL NEWS
Abu Dhabi postpones its USD1bn mall until 2020
17 Apr 2017
(MENAFN) The opening of a shopping center worth USD1bn, built on an island off the coast of Abu Dhabi has been delayed by two years until 2020 due to issues with its design and delays in receiving approvals.
Meanwhile, a new tender to build Reem Mall on Reem Island will be awarded later this year, which was due to open next year.
Moreover, Dubai conglomerate Majid Al-Futtaim had been picked up to operate the indoor snow park, a family entertainment center and cinema complex in Reem Mall.
Additionally, Reem Mall will be financed by Kuwait’s National Real Estate Co. (NREC) and United Projects for Aviation Services Co.
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