Gulf Related Breaks Ground on Al Maryah Central
Leading regional development company Gulf Related today broke ground on Al Maryah Central, a 2.3 million square foot super-regional shopping center located at the core of Al Maryah Island in Abu Dhabi. The groundbreaking marks the start of construction on the iconic project ahead of it's opening in March 2018.
This development milestone follows the recent landmark agreement which will see the opening of two iconic US department stores, Macy's and Bloomingdale's, in Al Maryah Central. In addition, Al Tayer Group will operate over 20 inline retail stores representing approximately one third of Al Maryah Central's total leasable space.
The fully financed super-regional shopping center is part of a dynamic 3.1 million square foot mixed-use development which will include 2.3 million square foot of retail and an adjoining luxury hotel and residential towers. The development, designed by leading US architecture firm Elkus Manfredi, will provide a fully climate controlled thriving shopping, dining and entertainment destination for local, regional and international visitors alike located within a stunning architectural setting.
Ken Himmel, Co-Managing Partner, Gulf Related said, "We are thrilled to commence construction on Al Maryah Central and bring to life a world-class, destination-making offering evolving from the remarkable response by the retail community to The Galleria on Al Maryah Island. With the tremendous combined endorsement by Al Tayer Group through the provision of Macy's and Bloomingdale's to anchor the development and approximately a third of the retail composition already spoken for by a diverse array of in-line stores, cafes and restaurants we are confident that Al Maryah Central will achieve our vision as the greatest shopping experience in the region and open up the world of retail, entertainment and dining within the Abu Dhabi community. It also represents a further catalyst in the rapid development of Al Maryah Island."
Anchored by Macy's and Bloomingdale's, Al Maryah Central will offer a comprehensive merchandise mix of both luxury and contemporary brands, extensive entertainment options, a 20-screen cinema, health-club, food market, children's entertainment and rooftop parks that include an outdoor amphitheater for film screenings and events.
In addition to a unique food hall, Al Maryah Central will host a best-in-class collection of over 90 dining options including al fresco cafés, bistros and fine dining restaurants overlooking a striking waterfront promenade and situated amongst landscaped outdoor space. The development will also feature two 400,000 square foot towers; one with a 5-star hotel and serviced apartments and the other with luxury residences.
Karim El Solh, Co-Managing Partner of Gulf Related and CEO of Gulf Capital commented; "Capitalizing on its prime location on Al Maryah Island as the focal point of Abu Dhabi's new business, retail and residential areas, Al Maryah Central will introduce new and exciting retail offerings, such as Macy's and Bloomingdale's, and family entertainment concepts to Abu Dhabi's Central Business District and surrounding catchment areas. When combined with The Galleria on Al Maryah Island both developments will create a 2.9 million square foot waterfront retail shopping destination. This development will reflect the burgeoning vibrancy of Al Maryah Island, complement the lifestyle and culture of Abu Dhabi and secure local, regional and international recognition for the district as a world-class CBD."
Al Maryah Island is an integrated, 114-hectare mixed-use development at the center of Abu Dhabi, master-planned and being developed by Mubadala Development Company. The island has been designated as Abu Dhabi's Central Business district and modelled on the world's leading mixed-use 24-hour financial districts.
Upon completion, Al Maryah Central will be connected to over 15.7 million square foot of adjacent, completed and occupied properties on Al Maryah Island. The vibrant urban hub will include Sowwah Square, comprised of The Galleria on Al Maryah Island, four Grade 'A' commercial towers, Rosewood Abu Dhabi and Four Seasons Hotel Abu Dhabi (due for completion in 2016); new headquarter office towers for both the National Bank of Abu Dhabi and Al Hilal Bank; Maryah Plaza's luxury residential towers and Cleveland Clinic Abu Dhabi. The entire district will be highly accessible and directly interconnected by air conditioned passageways and serviced by over 15,000 parking spaces and 13 bridges.
Gulf Related is a partnership between Gulf Capital, one of the Middle East's leading alternative asset management firms, and Related Companies, one of the largest private real estate development and investment firms in the United States.