Monday, March 6, 2017

Al Futtaim breaks ground on UAE mixed-use project

Al Futtaim, a leading regional business house headquartered in Dubai, UAE, has broken ground on the development of a 78,500 sq m site, which forms part of the Jebel Ali Development (JAD) mixed-use master planned community.  

It will combine living, working and entertainment with popular retail brands, said the company in a statement.

Al Futtaim plans to expand its retail offering through the development of the new mall, located in Jebel Ali, the southern part of Dubai along the main Abu Dhabi – Dubai Highway.

In the first phase of its development, which also includes a strategic partnership with wasl properties, a subsidiary of wasl Asset Management Group, the new retail offer is set to bolster a variety of retail concepts within around 55,000 sq m of leasable space.  

The development will be home to Dubai’s second Ikea, which will be, upon opening, the brand’s newest concept store globally, said the statement from Al Futtaim.

The store size will be within 30,000 sq m of space, with additional restaurant concepts, and coffee shops for visitors’ delight, it stated.

Alongside IKEA, an additional 100 retail stores are also being leased, alongside a food court and café-style dining, entertainment, a large hypermarket and Al Futtaim ACE hardware store - all set to be completed by Q1, 2019.

The new ACE outlet will also be a concept store not seen before in Dubai, offering more than 33,000 products including exclusive ranges for ACE, worx power tools, Addis home products and Broil King barbeque brands, said the statement.

In addition it will feature an in-store cafe and garden centre with plants and accessories for the perfect garden.

With over 2,000 parking spaces, the mall will also serve as a convenient community mall for the quickly growing Jebel Ali catchment especially appealing to the residential communities in Jebel Ali, Dubai Marina and those travelling from Abu Dhabi, it added.

The second phase will include wasl Gate, the residential precinct developed by wasl properties will include 1,457 homes, accompanied by a lifestyle oriented hospitality and entertainment offering, a sports complex, K-12 schools with international curriculums, and a central park connecting the community’s commercial and residential neighbourhoods.

The mall is strategically located to offer ease of access from Sheikh Zayed Road and the Energy Metro Station, which is situated only 450 metres from the site.

Omar Al Futtaim, the vice chairman of Al Futtaim said: "As a privately-owned company guided by an entrepreneurial spirit, we always take a long-term view of the market by planning ahead, and this project firmly positions our retail footprint in a high growth potential area of Dubai slated to witness a population growth spurt during the build up to Expo 2020 and well beyond."

Al Futtaim is a keen contributor to the government’s development plans and will remain a committed partner in progress for Dubai and the UAE by investing in strategic projects to spread our diverse portfolio’s assets and meet consumer demand, he stated.  

Marc Hewitt, the chief development officer at wasl Asset Management Group, said: "The primary focus for the first phase of wasl Gate is modern, attractive residences designed for young professionals and families, so we are delighted to be working in partnership with Al Futtaim."

"The second phase will see the expansion of the development to include more living and leisure spaces, including landscaped parks, a sports centre, showroom spaces, and park-side residential offerings," he added.-TradeArabia News Service

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