NREC’s Reem Mall and Dubai Holdings announce partnership
Joint venture to bring new retail offering to Abu Dhabi
Reem Mall, Abu Dhabi’s upcoming fashion, entertainment and dining destination in the heart of Abu Dhabi, and a joint venture between NREC and UPAC, announced this morning that it has signed terms of agreement with Dubai Holding Group.
Commenting on this latest development for the much-anticipated $1 billion project, Shane Eldstrom, Chief Operating Officer for Reem said: “We are very pleased to announce this new partnership with Dubai Holding Group, and the exciting new brands joining our retail offering. Today’s announcement is yet another milestone for the project which bears testament to the ambitions of Reem Mall. Our leasing program is well underway, with a number of leading retailers and global dining and lifestyle brands poised to become a part of Reem Mall’s prime shopping, gastronomic and entertainment portfolio.”
Dubai Holding Group represents some of the finest international fashion and lifestyle franchise stores in the region, and is one of the Middle East’s most progressive and fastest growing retail organizations representing famous brands such as Zara, Zara Home, Flamant, Promod, Stradivarius, Women’s Secret, Gerard Darel, Sfera and Delvaux.
Ali Bin Saeed Al-Shamsi, Chairman of Dubai Holding Group, said: “Reem Mall’s vision to create a stylish, bustling and best in class shopping and lifestyle center for the region has inspired us to bring our portfolio of international brands to this outstanding development. Reem Mall has gone beyond traditional conceptions of a mall to create a mixed-use development with a sense of place and community cohesion built in - a center for social life and gathering as well as shopping and dining.”
Reem Mall, developed by NREC and UPAC, is a 2 million sq. ft. retail, leisure, dining and entertainment destination, located on Abu Dhabi’s Reem Island. Construction on Reem Mall commenced at the end of 2015, at the entrance of the new master-developed residential and commercial zone on the eastern side of Abu Dhabi’s mainland.
Reem Mall will bring to the capital a diverse assortment of family-focused retail, leisure and entertainment offerings, with 450 stores including 85 food and beverage outlets and a wide range of edutainment and entertainment anchors. Reem Mall will also house the world’s largest indoor snow-play park, a 125,000 sq. ft. indoor amusement space, characterized by unique entertainment for the entire family including sledging, zorbing and luge.