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FINANCIAL NEWS
Gulf Related to grant USD1b contract of Al Maryah shopping complex
09 Mar 2015
(MENAFN) Gulf Related, a property developer, said that the main building contract for a USD1 billion shopping center on Al Maryah Island in Abu Dhabi is set to be awarded in May, The National reported.
As a joint venture between the Abu Dhabi-based Gulf Capital and US-based retail developer Related Companies, Gulf Related said that work on the 214,000 square meter mega-mall is set to start in August.
According to reports, Gulf Related has shortlisted a number of contractors like Alec and Canada’s Brookfield Multiplex to build the vast shopping complex.
“We are talking to a number of parties at the moment and we will be narrowing this down over the course of the next six to eight weeks and appointing a main contractor in May,” a Gulf Related spokesman said in a statement.
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