ID :
178250
Wed, 04/27/2011 - 11:17
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https://oananews.org//node/178250
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Deerfield's Town Square on Track for Delivery in Q4 2012
Abu Dhabi, April 27, 2011 (WAM) - Deerfield's Town Square, the Dh700-million destination mall taking shape at the Al Bahiya district of Abu Dhabi, has achieved significant progress on the leasing and construction front and is on track for delivery in Q4 2012, developers MBI announced yesterday.
With Jones Lang Lasalle on board as retail and leasing consultants, over 34 per cent of the project has already been leased to retail tenants. Nearly 40 per cent of the mall's 808,000 sq. ft. gross leasable area has been assigned for retail, while 24 per cent is allocated for retail anchor, 18 per cent for entertainment, 14 per cent for food and beverage options, and four per cent for services outlets. The development is anticipated to receive a target footfall of 10 million visitors per annum.
The project financing mix now features a minority stake by its main contractor Fibrex Construction Group, Abu Dhabi.
More than 20 per cent of the overall construction has been achieved to date at the Deerfield's Town Square. While the basement is completed, slabs on the Garden Level have additionally witnessed considerable progress. Nearly 50 per cent concrete cast is in place on the north side of the Garden Level Slab and 75 per cent concrete cast achieved on the south side. Meanwhile, a total of 47,000 out of 128,000 cubic meters of concrete cast has been poured and a total of 8,000 tonnes of 18,000 tonnes steel used.
Addressing a press conference to announce the construction milestones achieved at the destination mall, Banu Tas, General Manager of Deerfield's Town Square, said: "The community surrounding this emerging neighbourhood in Abu Dhabi is expanding and developing rapidly. By 2012, residences will reach 90,000 in the mall's vicinity. It is not unusual for a resident in this neighbourhood to travel up to Dubai or mainland Abu Dhabi to shop for essentials almost twice a week. Clearly, the location is vastly underserviced in terms of retail, and Deerfield's Town Square will be uniquely placed to satisfy these needs."
The scale of Deerfield's Town Square, which was first announced in 2008, has been redesigned to offer a more practical solution for the neighbourhood community and the emerging competitive environment of Abu Dhabi. In its value-engineered new format, the project will comprise a healthy mix of mid-tier retail mix offering and positioning, a large and innovative family entertainment centre, a multiplex and a wide spectrum of casual and fine dining cuisines.
Earlier, Deerfield's Town Square had announced Carrefour as an anchor tenant. Currently, it is in the process of finalising several mid-sized value-oriented family retail stores. Governmental services, medical facilities, and essential services components are also in the process of registering interest.
The mall, which will cater to a 15-km catchment area in its radius consisting of communities including Al Bahia, the Raha Beach, Khalifa city, Mussaffah, Yas Island and Reef amongst others, will offer unique facilities and rate high on accessibility. - Emirates News Agency, WAM
With Jones Lang Lasalle on board as retail and leasing consultants, over 34 per cent of the project has already been leased to retail tenants. Nearly 40 per cent of the mall's 808,000 sq. ft. gross leasable area has been assigned for retail, while 24 per cent is allocated for retail anchor, 18 per cent for entertainment, 14 per cent for food and beverage options, and four per cent for services outlets. The development is anticipated to receive a target footfall of 10 million visitors per annum.
The project financing mix now features a minority stake by its main contractor Fibrex Construction Group, Abu Dhabi.
More than 20 per cent of the overall construction has been achieved to date at the Deerfield's Town Square. While the basement is completed, slabs on the Garden Level have additionally witnessed considerable progress. Nearly 50 per cent concrete cast is in place on the north side of the Garden Level Slab and 75 per cent concrete cast achieved on the south side. Meanwhile, a total of 47,000 out of 128,000 cubic meters of concrete cast has been poured and a total of 8,000 tonnes of 18,000 tonnes steel used.
Addressing a press conference to announce the construction milestones achieved at the destination mall, Banu Tas, General Manager of Deerfield's Town Square, said: "The community surrounding this emerging neighbourhood in Abu Dhabi is expanding and developing rapidly. By 2012, residences will reach 90,000 in the mall's vicinity. It is not unusual for a resident in this neighbourhood to travel up to Dubai or mainland Abu Dhabi to shop for essentials almost twice a week. Clearly, the location is vastly underserviced in terms of retail, and Deerfield's Town Square will be uniquely placed to satisfy these needs."
The scale of Deerfield's Town Square, which was first announced in 2008, has been redesigned to offer a more practical solution for the neighbourhood community and the emerging competitive environment of Abu Dhabi. In its value-engineered new format, the project will comprise a healthy mix of mid-tier retail mix offering and positioning, a large and innovative family entertainment centre, a multiplex and a wide spectrum of casual and fine dining cuisines.
Earlier, Deerfield's Town Square had announced Carrefour as an anchor tenant. Currently, it is in the process of finalising several mid-sized value-oriented family retail stores. Governmental services, medical facilities, and essential services components are also in the process of registering interest.
The mall, which will cater to a 15-km catchment area in its radius consisting of communities including Al Bahia, the Raha Beach, Khalifa city, Mussaffah, Yas Island and Reef amongst others, will offer unique facilities and rate high on accessibility. - Emirates News Agency, WAM
