Abu Dhabi-based Aldar Properties’ Yas Mall, spread across 2.5 million sqft on Yas Island, is all set to open this year, with its inauguration coinciding with the final race of 2014 Formula One World Championship. According to the developer, construction of the mall is complete and the handover of units to tenants for fit-outs is already underway.
Almost 80% of mall space has already been leased out to major retail groups, including MH AlShaya, Majid Al Futtaim, Landmark Group, Dubai Holding, Azadea, Paris Group, Royal Sporting House, Al-Futtaim, Retail Arabia and Fucom. The mall will open with over 300 stores, crossing the 400-mark including F&B brands, a 20-screen cinema operated by VOX Cinemas, a family entertainment zone and the largest hypermarket in Abu Dhabi that will be operated by Géant.
“With its wide range of shopping and entertainment attractions, Yas Mall is sure to draw a lot of people to Abu Dhabi. It will be a significant addition to the wider Yas Island offer – that currently includes seven hotels as well as a range of attractions comprising Yas Marina Circuit, Yas Marina, Ferrari World Abu Dhabi, Yas Water World, Yas Links Golf Course and Yas Retail. The mall will be a major part of our corporate strategy to strengthen recurring revenues, bringing stability and consistency to underlying earnings,” says Mohammed Al Mubarak, Aldar’s deputy CEO.