The Heart of Abu Dhabi Revitalized by the Finest Branded Outlets and Restaurants
Abu Dhabi, United Arab Emirates, December 17, 2005 - ALDAR Properties PJSC revealed the retail plans at the heart of its proposed redevelopment of Central Market in Abu Dhabi at Dubai's Middle East Shopping Centre Exhibition. The exhibition took place on December 13 and 14 at the Jumeirah Beach Hotel's Conference Centre.
"Retail and entertainment will be an important focus of ALDAR's Central Market redevelopment, which will rise as a superb and fully integrated mixed-use scheme in the centre of Abu Dhabi," said ALDAR's Chairman Ahmed Ali Al Sayegh.
He added: "This is an important site which holds a place in the heart of the people of Abu Dhabi. We at ALDAR have a responsibility to deliver a development that is truly worthy of the heart of our great city."
The Central Market has been developed on a site of six hectares, with a built-up area of approximately 610,000 square metres. It has been conceived as a premier live, work, and entertainment destination.
The redevelopment comprises an Arabian Souq, branded retail outlets, food outlets and restaurants for all tastes, grade A office space, world class hotels, tower apartments, extensive green space - including a complete 'sky park' that cascades down into the retail areas, plus parking for over 5,000 cars.
ALDAR intends that Central Market will redefine the city centre of Abu Dhabi. It will become the natural daily meeting point for thousands of residents and visitors to the city. And its energetic heartbeat will be driven by the choice of retail offerings - many of which will be new to Abu Dhabi.
The traditional Arabian Souq will aim to recapture the heritage of the site by offering authentic Middle Eastern goods including textiles, jewellery, gold, spices, perfume, tailoring, carpets and gifts.
However it is the high-end lifestyle stores and boutiques in the retail podium, which will make Central Market truly exciting and original. These floors will be occupied by the world's leading retail brands covering all possible categories, from specialist food stores to designer fashion, with at least one level becoming the 'Bond Street' of Abu Dhabi.
ALDAR CEO Christopher Sims commented: "This will not be a 'Mall' in the traditional sense, but will be a destination offering the visitor or resident myriad leisure, entertainment and retail experiences." It will be a unique experience - the first of its kind in the UAE. We are already in negotiation with some of the most exciting and original names in the retail world."
The Central Market is located in Abu Dhabi near the intersection of Khalifa Street and Airport Road. The development will open progressively with the souq opening in 2007, the retail podium at the end of 2007 and the entire scheme by the end of 2008.
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Note to Editors:
ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors
ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development in Sas Al Nakel, the Mubadala Development Company - Environment Authority Headquarter Building in Abu Dhabi, Al Jimi Mall Expansion in Al Ain, Jebel Hafeet Resort in Jebel Hafeet, Al Ain, and the Al Mudheef Urban Regeneration Scheme in Al Mudheef.
ALDAR Properties PJSC is a key sponsor of the 2005 TEDAD general census of population, buildings and establishments being undertaken by the Ministry of Economy and Planning..
For more information, please contact Ousama Ghannoum, Marketing and Communication Director of ALDAR on 02 6336886 or visit our website www.aldar.com or contact Sareem International ALDAR's corporate communications advisers on the numbers below:
Abu Dhabi OfficeTel.: +971 (2) 6771196
Fax: +971 (2) 6790060
E-Mail: info@sareem.net
Dubai Office
Tel.: +971 (4) 343 3688
Fax: +971 (4) 321 1988
E-Mail: info@sareem.net
© Press Release 2005
