Pages Navigation Menu

Unofficial magazine. News. Business. Entertainment. Guides. Pictures. Video

Abu Dhabi’s New Souk to be Inaugurated Middle of This Year

By T. Ramavarman  www.khaleejtimes.com

ABU DHABI — The New Souk which will form part of the Central Market project of Aldar Properties in Abu Dhabi will be opened in the middle of this year.

The souk which will have a ‘letable area’ of 15,000 square meters and would house about 300 shops retailing all items that are being sold at traditional Arabian souks, Fred Douglas, Director of Leasing, Aldar Properties, disclosed at a news conference here on Monday.

He said nearly 90 per cent of the space in the souk had already been rented out.

The Emporium which will form the second component of the Central Market would be opened in fourth quarter of next year while the third component which would comprise of a residential tower and an office tower would be opened 
towards the end of 2012.

The residential tower would have 88-floor and 85,000 square meters of  ‘letable area’ while the 60-storied office building will have an area of 72,000 square meters, Douglas said.

We have reached the top floors in construction and when completed they are likely to be the tallest towers in Abu Dhabi city, he said.

The Aldar officials however declined to disclose the estimated cost of 
the project.

Meanwhile, Aldar Properties and Retail Arabia International have signed a 10 year lease agreement that will see the development of the region’s first House of Fraser store at the Central Market House of Fraser will be the anchor store for Emporium, which will have an area of 62,000 square meters for letting out. Set to become Abu Dhabi’s high fashion destination, Emporium will feature 150 chic boutiques, offering a blend of local international brands, as well as food and beverage outlets over eight levels of cool spacious arcades diffused with natural light and greenery.

House of Fraser have will occupy about 10,000 square meters area of Emporium, Nabil Daud, Managing Director and Chief Executive Officer, Retail Arabia International, said.

ramavarman@khaleejtimes.com

Share or Bookmark: