{"id":26518,"date":"2016-09-19T17:59:54","date_gmt":"2016-09-19T10:59:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=26518"},"modified":"2016-09-19T16:12:50","modified_gmt":"2016-09-19T09:12:50","slug":"al-maryah-central-mall-in-abu-dhabi-now-50-per-cent-leased-by-retailers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-maryah-central-mall-in-abu-dhabi-now-50-per-cent-leased-by-retailers\/","title":{"rendered":"Al Maryah Central mall in Abu Dhabi now 50 per cent leased by retailers"},"content":{"rendered":"


\nThe developer behind the US$1 billion Al Maryah Central retail project in Abu Dhabi has said that it has already leased 50 per cent of the retail space at the development, with 785,000 square feet of commitment secured from major UAE retail groups.However, Gulf Central also stated that the project will not now open until August 2018, which is five months later than its scheduled opening date of March 2018.The company said that more than 60 brands have committed to the mall through major retail groups such as Al Tayer, Chalhoub, Majid Al Futtaim Group and Dubai Holding. New tenants include a 35,000-square-foot flagship Zara store, All Saints, Lululemon and Alice and Olivia.It said the decision to delay the opening was taken after a long discussion with retailers. Ken Himmel, the co-managing partner of Gulf Related, said that if it did not open by April 1, 2018, retailers would then be entering a period where that season’s stock would become out of seasons and would have to be discounted.”If you don’t open in March, then literally your next time to open is August or September.”As close as we are to our construction schedules, it was too risky or too tight to try to make a March or April date. The complications of something this big, no matter how hard everyone works to try to stay on a schedule, you have to make a judgement of how close to that you are going to get.”We gave everybody much more comfort that with our August date, we could do a full, soft opening in August and then this thing really hits the road rolling in September. That way, nothing is on sale.”He said that third party research by Australian consultancy Urbis had placed a total value for Abu Dhabi’s retail market of $12.18bn by 2018 and $13.67bn by 2020.”Our catchment in that should be at least 20 per cent,” said Mr Himmell. “I would say maybe in the 20 to 30 per cent range as we start to stabilise.”The company also announced a series of new deals with licensed restaurant operators to open units at The Galleria, which will be directly linked to Al Maryah Central. These include branches of La Petite Maison, Roberto’s Coya, Nusr-Et, Samar, Eat Greek and Loca.mfahy@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Al Maryah Central mall in Abu Dhabi now 50 per cent leased by retailers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The developer behind the US$1 billion Al Maryah Central retail project in Abu Dhabi has...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26518","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6TI","jetpack-related-posts":[{"id":26598,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gulf-related-chief-bullish-on-prospects-for-al-maryah-central-despite-market-slowdown\/","url_meta":{"origin":26518,"position":0},"title":"Gulf Related chief bullish on prospects for Al Maryah Central despite market slowdown","date":"September 19, 2016","format":false,"excerpt":"\r Michael FahyDeveloper Gulf Related is bullish about the prospects for its US$1 billion Al Maryah Central development after announcing that 50 per cent of the retail space within the 2.8 million square feet project has already been let.Ken Himmel, the company's co-managing partner, yesterday acknowledged that as a result\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11438,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mall-magnate-ventures-beyond-us-for-chance-to-tap-abu-dhabi-growth\/","url_meta":{"origin":26518,"position":1},"title":"Mall magnate ventures beyond US for chance to tap Abu Dhabi growth","date":"April 27, 2016","format":false,"excerpt":"\r Ken Himmel knows a thing or two about malls: he knows how to build them, and he knows how the new breed of \"super malls\" can re-energise the urban landscape around them.He knows because he has built upmarket developments in American cities from San Francisco to New York and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34556,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-megaprojects-2016-in-pictures\/","url_meta":{"origin":26518,"position":2},"title":"UAE megaprojects 2016 – in pictures","date":"November 16, 2016","format":false,"excerpt":"\r New developments continue to spring up in the UAE, among them residential projects, infrastructure and entertainment venues. We take a look at the major ones which have been announced this year or made significant progress during 2016.newslideJumeirah Central, DubaiHome to 35,000 residents, 9 million square feet of retail space\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9524,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-maryah-central-super-mall-will-thrive-without-a-ski-slope\/","url_meta":{"origin":26518,"position":3},"title":"Al Maryah Central super mall 'will thrive without a ski slope'","date":"March 31, 2016","format":false,"excerpt":"\r \r Kevin Ryan, chief operating officer and managing director of Gulf Related, the company building Abu Dhabi's Al Maryah Central shopping centre, is adamant he does not need a ski slope in what will be the emirates' newest super-regional mall.\"We spent a lot of time thinking about whether we\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42927,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-maryah-central-mall-developer-seeks-tower-funds\/","url_meta":{"origin":26518,"position":4},"title":"Al Maryah Central mall developer seeks tower funds","date":"February 5, 2017","format":false,"excerpt":"\r The developer behind the planned US$1 billion Al Maryah Central mall in Abu Dhabi is searching for investors to help finance the construction of two towers next to the shopping and entertainment complex. Gulf Related, a joint venture between Gulf Capital and the US developer Related Companies, has said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8344,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reem-mall-progresses-in-abu-dhabi-as-800m-loan-moves-nearer\/","url_meta":{"origin":26518,"position":5},"title":"Reem Mall progresses in Abu Dhabi as $800m loan moves nearer","date":"March 18, 2016","format":false,"excerpt":"\r \r Agility, the Gulf's largest logistics company, has said that it is in the final stages of securing US$800 million in bank loans to invest in building Abu Dhabi's latest mega mall.Kuwait-traded Agility last year revived dormant plans to build Reem Mall, a planned 2.8 million square feet shopping\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26518"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26518"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}