National Real Estate Company (NREC) has appointed mSquared Shopping Centres as retail consultants for The Reem Mall, the new retail, leisure, dining and entertainment destination in Abu Dhabi.
UAE-based mSquared will provide The Reem Mall with retail development, leasing and asset management services as work on the Mall gets underway. Construction for The Reem Mall is scheduled to begin at the start of 2015 and the project will take around three years to complete, officially opening in 2018.
“The Reem Mall project is now in full swing and we are in the process of hiring and working with the best consultants and advisors. The strategic insight and vision that the project team brings will ensure that The Reem Mall sets a whole new standard for the entire region. It will bring around two million square feet of A-class retail experience, offering customers in the UAE the complete day out,” says Shane Eldstrom, NREC’s vice president – development.
Built with an investment of around $1 billion, The Reem Mall project will include around 450 stores, 85 restaurants, and a range of entertainment features across three floors.
“We are working closely with NREC to provide a bespoke retail strategy that will set the foundations for The Reem Mall. Our early involvement allows us to add substantial value to the project through design and revenue optimisation, front end cost savings, operational efficiencies and project impetus. Our paramount focus is always on defining the correct retail experiences for the target audience. Collaboration with our retail partners ultimately translates into long term opportunities for all stakeholders, and an asset that is geared for growth in value in the future,” says Rashid Doleh co-founder of mSquared.