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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.

 

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About Gulf Related Gulf Related is a regional real estate development company focused on retail, residential and high-end mixed-use real estate developments in the Middle East. Gulf Related represents a joint-venture 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. The Gulf Related team leverages its core competencies from Related in real estate planning, development and management; while Gulf Capital brings strong regional relationships, access to deal flow, and fund raising capabilities. Gulf Related is focused on pursuing marquee large-scale mixed-use real estate development opportunities in Abu Dhabi and Saudi Arabia. In addition to developing The Galleria on Al Maryah Island and Al Maryah Central, Gulf Related is developing a 550 unit expatriate residential compound in Riyadh, KSA. Gulf Related is identifying additional multi-phase, master-planned, mixed-use development opportunities in urban centers as well as large-scale community developments. Related brings to Gulf Related the expertise that has created some of the most internationally recognizable and celebrated retail driven mixed-use developments in the United States such as the Time Warner Center in New York and CityPlace in West Palm Beach, as well as the currently under development Hudson Yards in Manhattan, at 1.4 million square meters (15 million sq. ft.) the largest private development in the USA. About Al Maryah Island Al Maryah Island (formerly Sowwah Island) has been designated as Abu Dhabi’s new Central Business District (CBD), which forms a key component of the UPC’s Capital 2030 Plan.

Located at the midpoint between Abu Dhabi's existing downtown and new residential districts, Sowwah Square marks the completion of Phase 1 of Al Maryah Island’s development and an important milestone in the Government’s strategic urban development plan. Sowwah Square has been developed by Mubadala Real Estate & Infrastructure (MREI) and modelled on the world’s leading mixed-use, 24-hour CBDs. It comprises of The Galleria alongside four international Grade A office towers, already home to a mix of blue-chip global and regional companies including Deloitte, GE, Gulf Capital, Booz & Co, JP Morgan, Macquarie Bank, Herbert Smith Freehills and the Regulation and Supervision Bureau. Sowwah Square will also incorporate the new Abu Dhabi Securities Exchange (ADX) and the ultra-luxury Rosewood Abu Dhabi and Four Seasons hotel Abu Dhabi.

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