Mubadala signs JV for Sowwah Square development
Gulf Related lands new shopping and restaurant hub for Sowwah Island
Mubadala Real Estate and Hospitality (MREH) has entered in to a joint venture with Abu Dhabi-based real estate developers Gulf Related to build, lease and operate The Galleria at Sowwah Square.
The 33,000m2 development will form the heart of Abu Dhabi’s new central business district on Sowwah Island. According to a statement issued by Gulf Related, The Galleria at Sowwah will “be a vibrant new shopping and dining destination with a full range of luxury to mid-market international retail offerings and internationally branded food and beverage outlets.”
Peter Wilding, Executive Director of Mubadala Real Estate and Hospitality, commented, "We are delighted to welcome another well respected partner, Gulf Related, to the Sowwah Square project. Over the past few months both our teams have worked closely together to ensure that 'The Galleria at Sowwah Square' delivers a unique and exciting retail and dining experience for Abu Dhabi."
"Sowwah Square is rapidly establishing itself within the region and internationally as the heart of Abu Dhabi's new Central Business District and Gulf Related's best-in-class expertise and brand relationships will ensure that the office and hotel community, Sowwah Island's residents and visitors will have the opportunity to enjoy a dynamic atmosphere within a unique retail and F'&'B destination at Sowwah Square."
Kenneth A Himmel, Co-Managing Partner of Gulf Related and President and CEO of Related Urban, said, "'The Galleria at Sowwah Square' offers Abu Dhabi's most compelling opportunity to create a distinct shopping and dining destination on the waterfront as part of a dynamic mixed-use environment that will include luxury hotel flags, Grade-A office space unparalleled in the region and Abu Dhabi's new Securities Exchange."
“The new joint venture will create a development that will set a benchmark for retail and dining in the region. 'The Galleria at Sowwah Square' will capitalize on the adjacent five-star Four Seasons Hotel Abu Dhabi at Sowwah Square and Rosewood Abu Dhabi hotels, the region's foremost healthcare facility, Cleveland Clinic Abu Dhabi, and approximately 183,000 leasable square meters (2 million sqft) of Grade-A office space with accommodation for over 10,000 occupants.”