TDIC launches 17ha Saadiyat Island retail projectby CW Staff on Jan 21, 2013
Abu Dhabi’s Tourism Development and Investment Company (TDIC), has announced a joint venture partnership with L Real Estate to develop ‘The District’ in Saadiyat island’s Cultural District, a retail complex sponsored by Louis Vuitton - Moët Hennessy.
The development will cover an area on the island of 168,000m2, while the structure will comprise three levels, all above ground. The gross floor area of the project will be 258,000m2 and the total built up area 370,000m2, delivering 168,000m2 of leasable space and 550 plus units.
The project, which will be equipped with one of the largest planned outdoor high-street’s in the region, is being centrally positioned within the cultural district to interlink all three of Saadiyat’ three upcoming museums.
HE Sheikh Sultan bin Tahnoon Al Nahyan, TDIC chairman, said: “TDIC’s iconic cultural institutions, upscale residential communities and distinctive leisure facilities, is truly reflective of Abu Dhabi’s wider economic strategy of transforming the emirate into a vibrant international destination.
“This new retail destination ideally sits among Saadiyat’s inspiring museums, and will be a sought-after location for Abu Dhabi’s communities and visitors when it opens by 2017.”
The detailed design work for the project will start in 2013, while construction is due to commence in 2014, with completion expected in 2017, to coincide with the opening of the Guggenheim museum.
- Bahrain: Alba hands power station deal to Siemens
- RTA to reopen Marina roads along Dubai Tram
- Dubai: IMG Worlds of Adventure's launch delayed
- KBW confirms two infrastructure projects in Jordan
- Sohar Industrial's $51m Phase 7 works 30% complete
- Abu Dhabi approves projects worth $148m in emirate
- Dubai Ruler oversees DEWA-Masdar solar park MOU
- Emaar awards Dubai Hills PM contract to EllisDon
- Company formed to manage UAE Barakah nuclear units
- Switzerland opens world’s longest, deepest tunnel