FINANCIAL NEWS

More than 50% of Abu Dhabi’s Yas Mall leased: Aldar

22 Apr 2012

(MENAFN) Abu Dhabi’s major developer Aldar confirmed the lease of more than 50 percent of retail space at Yas Mall, which will be Abu Dhabi’s largest shopping centre when completed, Arabian Business reported.

Aldar said that its has agreed with five of the UAE’s leading retail groups including MH Alshaya, Landmark Group, Dubai Holding Group, RSH (Middle East) and Liwa Trading Enterprises.

Aldar added that Yas IKEA is already open and performing well, and ACE Hardware is set to open in the third quarter of this year.

Aldar Properties said retailer interest was “proving strong” in the 235,000 sq m mall project, which is slated to open at the end of 2013.

With 10,000 covered car parking spaces, Yas Mall will be the second biggest shopping destination in the UAE after Dubai Mall.

The Yas Mall project’s main contract, worth USD544.5 million, was awarded to Six Construct, a unit of Orascom Construction.

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