Aldar Properties has announced it plans coincide the opening of Yas Mall with the 2014 Abu Dhabi Formula One Grand Prix in November.
The project will be the emirate’s first ‘super-regional’ mall and is the final retail component of Yas Island, the site of the Yas Marina circuit, which will host the final race in this year’s F1 calendar.
The developer announced construction of the 2.5 million square feet mall is now complete, with handover to tenants already underway.
“Yas Mall will help draw people to Abu Dhabi with its incredible range of attractions. It will be a significant addition to the wider Yas Island offer and a major contributor to the economy, both directly and indirectly,” said Aldar’s deputy CEO, Mohammed Al Mubarak.
“The mall will be a major part of our corporate strategy to strengthen recurring revenues, bringing stability and consistency to underlying earnings.”
Yas Mall will eventually accommodate 400 stores with international and regional retail offerings. It will include a 20-screen cinema – operated by VOX Cinemas – and the largest hypermarket in Abu Dhabi, operated by Geant. It will also be directly connected to entertainment park Ferrari World.
According to an Aldar statement, more than 80 per cent of mall space will be committed to major international retail groups, including Al Shaya, Majid Al Futtaim, Landmark, Dubai Holding and Azadea.
John Hadden, senior vice president property at Al Shaya, said: “Yas Island is already drawing a wide variety of people to its world-class attractions and the Mall will work to significantly increase this.
“I have no doubt that Yas Mall will become one of the most popular shopping destinations in the Middle East and we are delighted to announce that over 30 of our top brands will be ready and open at launch, including the largest Debenhams in the MENA region and the first Cheesecake Factory in Abu Dhabi.”