LEADING regional development company Gulf Related has broken ground on Al Maryah Central, a 2.3-million-sq-ft super-regional shopping centre located at the core of Al Maryah Island in Abu Dhabi.
Gulf Related is a joint venture between Gulf Capital, a leading alternative asset management firm in the region, and Related Companies, one of the largest private real estate development and investment firms in the US.
The ground-breaking marks the start of construction on the iconic project ahead of its opening in March 2018, according to Gulf Related.
This development milestone follows the recent landmark agreement which will see the opening of two iconic US department stores, Macy’s and Bloomingdale’s, in Al Maryah Central.
Al Maryah Island is an integrated, 114-hectare mixed-use development at the centre of Abu Dhabi, master-planned and being developed by Mubadala Development Company. The island has been designated as Abu Dhabi’s central business district (CBD) and modelled on the world’s leading mixed-use 24-hour financial districts.
In addition, the Al Tayer Group will operate more than 20 inline retail stores representing one third of Al Maryah Central’s total leasable space.
The fully financed super-regional shopping centre is part of a dynamic 3.1-million-sq-ft mixed-use development which will include 2.3 million sq ft of retail and an adjoining luxury hotel and residential towers.
The development, designed by leading US architecture firm Elkus Manfredi, will provide a fully climate-controlled thriving shopping, dining and entertainment destination for local, regional and international visitors alike located within a stunning architectural setting.
Ken Himmel, the co-managing partner of Gulf Related, said: “We are thrilled to commence construction on Al Maryah Central and bring to life a world-class, destination-making offering evolving from the remarkable response by the retail community to The Galleria on Al Maryah Island.”
In addition to a unique food hall, Al Maryah Central will host a best-in-class collection of over 90 dining options.
The development will also feature two 400,000-sq-ft towers; one with a five-star hotel and serviced apartments and the other with luxury residences.
Upon completion, Al Maryah Central will be connected to over 15.7 million sq ft of adjacent, completed and occupied properties on Al Maryah Island.