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NREC’s Al Farwaniya Receives Developer License For Reem Mall

13 - April - 2016

Al Farwaniya Property Development, LLC, the partnership established between National Real Estate Company (NREC) and UPAC for the development of Abu Dhabi’s Reem Mall, has received its Developer License from the Abu Dhabi Department of Municipal Affairs. The license was issued under the provisions of the new Real Estate Law which came into effect January 1, 2016.

Shane Eldstrom, Chief Operating Officer for Al Farwaniya, commented: “We are excited to receive our developer license. This milestone is indicative of our commitment to Abu Dhabi’s construction landscape and the development of world-class projects. The licensing of developers is a positive step for Abu Dhabi as it continues to establish itself as a world leader in urban planning and development.”

NREC CEO, Sam Sidiqqi said: “Construction on the USD1 billion Reem Mall broke ground in December 2015 and the mall is scheduled to open in late 2018. With two million square feet (sqf) of leasable space and a total floor area exceeding 2.8 million sqf, Reem Mall is poised to deliver an unprecedented retail, food and beverage as well as a family-focused entertainment offering.”

Reem Mall is a new up-and-coming retail, leisure, dining and entertainment destination strategically positioned within the new master-developed and commercial zone of Abu Dhabi’s Reem Island with easy access to and from the mainland. Comprising around 450 stores including 85 food and beverage outlets, a diverse palette of entertainment offerings, hypermarket, four department stores, a multiplex cinema, two food courts and the world’s largest indoor snow play park, Reem Mall promises a unique experience which combines best-in-class shopping and entertainment that will enhance Abu Dhabi’s leisure and lifestyle atmosphere.