New $190m Abu Dhabi mall is over 50% leased

More than 50 percent of a $190m Abu Dhabi shopping mall slated to open by the end of this year is leased to retailers, it was announced on Sunday.

Deerfields Town Square Mall in Al Bahia, which is currently under construction, also has “numerous other retailers very close to leasing”, officials said in a statement.

Mubarak Brothers Investments (MBI) and Deerfields management, the owners and developers, also said they have appointed Jones Lang LaSalle to advise on the property management set up and operation of the mall.

Anchored by Carrefour, Centrepoint and Grand Cinemas, Deerfields Town Square will incorporate more than 200 outlets in approximately 80,000 sq m of new retail space.

Banu Tas, general manager of Deerfields Town Square said: “Jones Lang LaSalle’s experience of operating and managing shopping malls around the world will help us deliver the very best in new community facilities, providing a quality shopping experience for those living and working in Al Bahia, Shahama, Rahba and Khalifa Cities as well as the wider catchment area.”

He said Jones Lang LaSalle’s retail division was also helping with leasing and retail mix strategy.

Graham Howat, head of Property and Asset Management at Jones Lang LaSalle in MENA, added: “Property management is becoming increasing sophisticated in the Middle East and we are pleased to see developers like MBI embrace the opportunity of having professional mall management in place from day one to ensure success for their tenants and their shopping public.”

A new shopping mall being built on Abu Dhabi’s Sowwah Square is set to open in early 2013.

Mubadala Real Estate & Hospitality (MREH) and Gulf Related, developers of The Galleria said 85 percent of the mall’s retail space had been booked.

The Galleria will feature the likes of Louis Vuitton, Cartier, Gucci, Prada, Alexander McQueen, Aspinal of London, Balenciaga, Bottega Veneta, Brioni, Boucheron, Bulgari, Chaumet, Christian Louboutin, Dolce & Gabbana, Fred Perry, IWC, Jimmy Choo, Michael Kors, Panerai, Roger Dubuis and Van Cleef & Arpels.

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