Abu Dhabi – Mubasher: Al Farwaniya Property Developments, the developer of Reem Mall in Abu Dhabi, on Sunday announced that construction work of the $1.2 billion mall has begun.
This came after a $457 million credit facility was signed to complete the project financing and appointing the UAE-Italy joint venture Itinera Ghantoot as the project's lead contractor in late 2017.
During the first quarter of 2018, construction work included drilling and filling huge spaces of the project land, as well as the main structuring concrete pours were finished and seven of 14 tower cranes were built on site.
The remaining cranes will be cast by the end of April, according to the 24 website.
After the completion of 2.9 million square feet of Reem Mall, the mall will offer some spaces for rent by retail stores and entertainment destinations and it will feature Abu Dhabi’s first ice city.
"Reem Mall will set a new benchmark for shopping, leisure, and entertainment in Abu Dhabi and beyond,” CEO of Al Farwaniya Property Shane Eldstrom commented.
Construction of Reem Mall has begun late 2017, Eldstrom said, adding that the company is looking forward to delivering this new lifestyle, retail, and entertainment destination.
Reem Mall, located in Najmat Abu Dhabi in Al Reem Island, is the main the commercial and residential project Reem Investments implements. It is projected to embrace around 200,000 after completion.
