Azadea Group inks deal with Abu Dhabi’s Reem Mall to bring 11 stores to the US $ 1.2 billion project
Multiple stores including Virgin Megastore, Massimo Dutti, Bershka and Paul set to open in UAE capital’s major retail and leisure destination
Kuwait, 11 December 2017: Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, has announced a significant new partnership with Azadea Group, the premier lifestyle retail company which boasts an infrastructure of more than 650 stores spread across a dozen countries of the Middle East and North Africa (MENA) region.
As part of the agreement, Azadea Group will bring 11 influential brands to Reem Mall, totalling an area coverage of more than 4,200 sq. m. The Group’s popular franchise brands such as Virgin Megastore, Massimo Dutti, Bershka and Paul will add further value to the mall’s retail offering.
Commenting on the partnership, Shane Eldstrom, Chief Executive Officer of Al Farwaniya Property Developments, said: “Our mission is to provide shoppers and visitors with a world-class retail experience and this significant new agreement with Azadea Group brings us closer to achieving this ambition. Azadea Group is a highly respected premier lifestyle retail company and they share our passion and commitment of the highest quality standards in customer care. We are very pleased to be enhancing Abu Dhabi’s retail landscape by working alongside them.”reem.jpg
Marwan Moukarzel, Deputy Chief Executive Officer at Azadea Group said: “Our partnership with Reem Mall embraces our mission to further extend our promise in the wider MENA region of continuously providing entertaining and exciting experiences to our customers and people through great retail space. Overall, we are certain that this will only bring forth greatoutcomes and further cement our presence in the UAE, especially in the city of Abu Dhabi. We look forward to working with Reem Mall on the launch of this great new project.”
Reem Mall, located on Abu Dhabi’s Reem Island, is set to offer 2 million sq. ft. of leasable area (2.9 million sq. ft. of floor area) comprising around 450 stores, 85 of which will be Food and Beverage, as well as a range of family-focused entertainment and edutainment anchors including Snow Park Abu Dhabi, a destination snow park attraction.
The US $1.2 billion project is located in the Najmat District on Reem Island, the residential and commercial master development by Reem Developers. Reem Island is planned to have a population of 200,000 at completion.
Reem Mall is being developed by Al Farwaniya Property Developments, a partnership between Agility, Agility affiliate United Projects for Aviation Services Company (UPAC), and National Real Estate Company (NREC). Together, the companies bring a sound financial base, deep experience in asset management and commercial real estate development, and a track record of successful mall operations.
About Reem Mall
Reem Mall is Abu Dhabi’s major new retail, leisure, dining and entertainment destination. The Reem Mall project will comprise 450 stores, including 85 F&B outlets and a range of family-focused entertainment offerings including Snow Park AbuDhabi by Majid Al Futtaim.
For more information please visit the website: www.reemmall.ae
Please connect with us on Facebook: facebook.com/reemmall
Established in Kuwait in 1973, NREC is a publicly listed real estate and investment company with a presence in the Middle East and North Africa. Over the years, NREC has grown into one of the largest real estate companies in the region with assets exceeding US$ 1.8 billion. Headquartered in Kuwait, NREC has subsidiaries and developments across the MENA region, including the UAE, Egypt, Jordan, Iraq, Lebanon, and Libya. NREC’s portfolio of projects (completed or under development) includes offices, mixed use centers, industrial parks, residential communities and super-regional malls. In addition to a strong track record in property development, NREC brings experience and required knowledge in property management of commercial complexes and shopping centers. For more information
please visit the website: www.nrec.com.kw
Established in 2000, publicly listed on Boursa Kuwait, and headquartered in Kuwait, UPAC is a leading commercial real estate and facilities management company with a specialization in Build Operate Transfer (BOT) initiatives. Its services cover project managementand consultancy, real estate development as well as property and facilities management. UPAC manages over 24,000 sqm of commercial space at the Kuwait International Airport, Sheikh Saad Terminal and other prominent locations within the country.
For more information please visit the website: www.upac.com.kw
About Reem Developers
Headquartered in Abu Dhabi, Reem Developers is one of the key developers in the capital, contributing to the city’s cosmopolitan skyline in alignment with the Abu Dhabi 2030 vision. A subsidiary and real estate arm of the prestigious Reem Investments, Reem Developers delivers immaculate quality projects, leaving a mark on the city with creative, efficient and functional design. With a diverse portfolio of successful projects, Rawdhat, Najmat and Nalaya villas are a few that have redefined vibrant living and tranquil bliss in one setting. A blend of natural beauty and modern innovation, these projects rise to the forefront with their conceptual essence, highlighting the distinguished standard Reem Developers produces.
Najmat, a 165 hectare Manhattan-like township covers 20% of Reem Island. Najmat will be home to residential and commercial towers and will also feature a marina, canal, waterfront promenades, hotels, shopping malls, schools, healthcare facilities, mosques, parks and ample open spaces. The first two of three infrastructure phases are complete and development is currently underway.
About Azadea Group Holding SAL
Azadea Group is a premier lifestyle retail company that owns and operates more than 50 leading international franchise concepts across the Middle East and Africa. Since its inception in 1978, the Group has developed a substantial network of retail stores representing leading international brand names in fashion and accessories, food and beverage, home furnishings, sporting goods, multimedia and beauty & cosmetics. With over 12,000 employees and world-class infrastructure, the company oversees more than 650 stores across 13 countries including Algeria, Bahrain, Cyprus, Egypt, Ghana, Jordan, Kenya, Saudi Arabia, Kuwait, Lebanon, Oman, Qatar and United Arab Emirates. For more information,
For more information please visit the website: www.azadea.com
Agility brings efficiency to supply chains in some of the globe’s most challenging environments, offering unmatched personal service, a global footprint and customized capabilities in developed and developing economies alike. Agility is one of the world’s leading providers of integrated logistics. It is a publicly traded company with more than $4.8 billion in revenue and more than 20,000 employees in over 500 offices across 100 countries. Agility’s core commercial business, Global Integrated Logistics (GIL), provides supply chain solutions to meet traditional and complex customer needs. GIL offers air, ocean and road freight forwarding, warehousing, distribution, and specialized services in project logistics, fairs and events, and chemicals. Agility’s Infrastructure group of companies manages industrial real estate and offers logistics-related services, including e-government customs optimization and consulting, waste management and recycling, aviation and ground-handling services, support to governments and ministries of defense, remote infrastructure and life support.