Abu Dhabi, UAE: National Real Estate Company (NREC), one of the leading MENA real estate developers, has appointed international consultants Mace to project manage the development of Reem Mall, Abu Dhabi's new entertainment, dining and shopping destination.
Reem Mall, developed in partnership with United Projects for Aviation Services Company (UPAC), is a 2 million sq ft retail, leisure, dining and entertainment destination, located on Reem Island, the new master-developed residential and commercial zone adjacent to Abu Dhabi, which will eventually be home to more than 200,000 people.
Shane Eldstrom, Vice President - Development , NREC, commented: "Once completed, Reem Mall will become Abu Dhabi's most exciting new retail, leisure, dining and entertainment destination. Working with a renowned delivery partner such as Mace will bring a new level of international expertise to our professional consultant team, and ensure that the delivery of the Reem Mall project adheres to the highest industry standards."
Nic Alford, Mace Operations Director, said: "Reem Mall is NREC's largest and most ambitious project to date. We are delighted to be trusted by NREC to deliver Reem Mall, which will make a significant contribution to the development of Reem Island, a vital component in Abu Dhabi's 2030 urban structure framework plan. "
Mace has an extensive track record of delivering large scale retail-led mixed-use developments across the UAE including Mall of the Emirates, Mirdif City Centre, Deira City Centre and, more recently, picking up the major regeneration scheme Khor Dubai.
Currently at concept design stage, the US$ 1 billion Reem Mall project will start construction in 2015 and is expected to open in 2018. Once completed, Reem Mall will bring a wide range of family-focused retail, leisure and entertainment offerings to Abu Dhabi including some 450 stores and 85 food and beverage outlets.
UPAC is one of Kuwait's leading real estate management companies. Under the agreement, UPAC will invest up to US $224 million in the project through its real estate subsidiary, Al Arfaj Real Estate Company.
Established in Kuwait in 1973, NREC has grown into one of the largest real estate companies in the region with ventures across the Middle East and North Africa. More announcements on the Mall's progress are to be made over the coming period.
About Reem Mall
Reem Mall is Abu Dhabi's major new retail, leisure, dining and entertainment destination. It is expected to launch in 2018, with construction beginning by early 2015. The Reem Mall project will include around 450 stores, 85 F&B outlets and a range of family-focused entertainment offerings.
About NREC
Established in Kuwait in 1973, the National Real Estate Company (NREC) is a publically listed real estate and investment company with a presence in the Middle East and North Africa.
Over the years, NREC has grown into one of the largest real estate companies in the region with ventures across the Middle East and North Africa. NREC has assets and capital of US$ 1.9 billion and manages 80 million square feet of land. The organisation houses subsidiaries and entities across a range of countries including the UAE, Egypt, Jordan, Iraq, Lebanon, and Libya. The portfolio of projects completed or under development, includes office space, mixed use centres, industrial parks, residential communities and super-regional malls.
About Mace
Mace is an international consultancy and construction company with a turnover in excess of £1.18bn.
Mace has been operating in the GCC for over 16 years and has offices located in Dubai, Abu Dhabi, Doha, Riyadh, Manama and Muscat.
Mace's core service office includes programme and project management, cost consultancy, construction delivery and facilities management and is truly multi-disciplinary with services spanning the entire property and infrastructure lifecycle.
Employing over 4,500 people, Mace operates across five strategic hubs in the Americas, Europe, sub-Saharan Africa, Middle East and North Africa and Asia Pacific.
For more information visit: www.macegroup.com
For more information please contact:
Mohaned Lafi
Four Communications Group
reemmall@fourcommunications.com
055 985 3379
© Press Release 2015
