$1.2BN INVESTED INTO REEM MALL SCHEME

Agility, UPAC and NREC, the consortium behind Abu Dhabi’s Reem Mall, a retail and leisure and entertainment destination, have announced that financing for the $1.2bn project is now complete, by signing the largest real estate asset based facility in the UAE in 2017. Reem Mall, located on Abu Dhabi’s Reem Island, will offer two million square feet of leasable area comprising 450 stores housing local and international brands, including 85 food and beverage outlets. It will feature education-oriented anchors and family-focused entertainment, including Snow Park Abu Dhabi, a destination attraction. The Reem Mall site is located in the Najmat District on Reem Island, the residential and commercial master development by Reem Developers. Reem Island is expected to have a population of more than 200,000 residents upon completion, which is now set for 2020.

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