16 June 2008
Ilyas & Mustafa Galadari Group, owners of City of Arabia, the $5 billion (Dh18.35bn) project which will house commercial, entertainment and residential facilities recently announced the 89 per cent completion of the first phase of the Mall of Arabia.
With four million square foot gross leaseable area (GLA) spread across two first phases, the leading brand names will be managed by Landmark Group and Azadea Group.
The second phase totaling six million square foot, will give it a total GLA of ten million square foot, it is set to become one of the world's largest malls, with 1,400 retail outlets, a rooftop hotel, and a themepark
Landmark Group and Azadea Group have signed up for a total of 800,000 square foot in Mall of Arabia's retail space in the first phase of construction.
Landmark Group has also signed a lease agreement for 500,000 square foot that will feature global brands.
Azadea Group, which operates 250 shopping outlets across the Middle East has taken more than 300,000 square foot. The group also plans 500 more shops in the next three years.
Myra Searle, senior vice-president for Retail, Mall of Arabia, said in a statement: "To have secured commitment to such a considerable amount of GLA at this stage with such notable players as Landmark and Azadea shows how much confidence exists in Mall of Arabia as one of the most significant shopping and leisure destinations in the region."
"We're right on the track," she added.
Infrastructure work has been completed on the 20 million square foot city of Arabia site.
Head of Group Marketing, Ilyas & Mustafa Galadari Group, Jocelyn McBride stated that work on the project's main components will begin soon including Restless Planet, Mall of Arabia and a number of major commercial and residential towers, as well as Wadi Walk, a community on the water front which will houses apartments, retail outlets, restaurants and cafés.
Ilyas & Mustafa Galadari Group, owners of City of Arabia, the $5 billion (Dh18.35bn) project which will house commercial, entertainment and residential facilities recently announced the 89 per cent completion of the first phase of the Mall of Arabia.
With four million square foot gross leaseable area (GLA) spread across two first phases, the leading brand names will be managed by Landmark Group and Azadea Group.
The second phase totaling six million square foot, will give it a total GLA of ten million square foot, it is set to become one of the world's largest malls, with 1,400 retail outlets, a rooftop hotel, and a themepark
Landmark Group and Azadea Group have signed up for a total of 800,000 square foot in Mall of Arabia's retail space in the first phase of construction.
Landmark Group has also signed a lease agreement for 500,000 square foot that will feature global brands.
Azadea Group, which operates 250 shopping outlets across the Middle East has taken more than 300,000 square foot. The group also plans 500 more shops in the next three years.
Myra Searle, senior vice-president for Retail, Mall of Arabia, said in a statement: "To have secured commitment to such a considerable amount of GLA at this stage with such notable players as Landmark and Azadea shows how much confidence exists in Mall of Arabia as one of the most significant shopping and leisure destinations in the region."
"We're right on the track," she added.
Infrastructure work has been completed on the 20 million square foot city of Arabia site.
Head of Group Marketing, Ilyas & Mustafa Galadari Group, Jocelyn McBride stated that work on the project's main components will begin soon including Restless Planet, Mall of Arabia and a number of major commercial and residential towers, as well as Wadi Walk, a community on the water front which will houses apartments, retail outlets, restaurants and cafés.
By Staff Writer
© Emirates Business 24/7 2008
