Monday, Oct 10, 2011
(This story was originally published Sunday)
DUBAI (Zawya Dow Jones)--Abu Dhabi property developer Aldar Properties said Sunday it awarded the main construction contract for Yas Mall, a major retail development on the emirate's Yas Island, to Six Construct.
"We are delighted to announce the appointment of Six Construct to deliver the Yas Mall project, who were selected for their significant experience in delivering projects of this scale in Abu Dhabi, the U.A.E. as well as on an international basis," Sami Asad, chief executive officer of Aldar, said in an emailed statement.
The appointment follows the completion of design work and the submission of technical proposals earlier this year, according to the statement.
Aldar Chairman Ali Eid Al Mheiri said the Yas Mall will be one of the largest retail developments underway in the region.
"Yas Mall demonstrates once again Aldar's ability to deliver significant projects in line with Abu Dhabi's strategic vision," Al Mheiri said in the statement.
Leasing agreements for more than 40% of the mall's retail space have already been confirmed, Aldar added.
Aldar declined to comment on the value of the contract.
Scheduled for completion in the fourth quarter of 2013, Yas Mall will feature 235,000 square meters of retail trading area housing a hypermarket, concept stores, high street and high-end fashion outlets, a multiplex cinema and family entertainment centre as well as many of the world's leading retail, restaurant and leisure brands.
It includes a car park with capacity of up to 10,000 covered car spaces.
Aldar shares were up 0.9% to AED1.12 on the Abu Dhabi Stock Exchange.
-By Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1692; Tahani.Karrar@dowjones.com
Copyright (c) 2011 Dow Jones & Company, Inc.
(END) Dow Jones Newswires
10-10-11 0348GMT
