Itinera wins $620m contract to build Reem Mall in Abu Dhabi

WCN Editorial Team 30 Nov 2017 MIDDLE EAST BUILDINGS

Italian construction firm Itinera has secured a $620m contract from Al Farwaniya Property Developments for the construction of Reem Mall, a new retail, leisure, dining and entertainment destination, in Abu Dhabi.

Itinera will build Reem Mall in a joint venture with Ghantoot Building Division, a construction and development service group in the Middle East.

The mall will have 450 stores, parking space for 6,800 vehicles, family-friendly entertainment and edutainment options, a variety of dining options, and a 10,000 sq m Snow Park.

The project includes the construction of a 1km perimeter road for the mall, with 11 flyovers and overhead pedestrian access.

The project is located in the Najmat district on Reem Island off Abu Dhabi Island’s coast and is part of a broader real-estate development plan taken up by Reem Developers.

Reem Island is expected to have a population of 200,000 upon completion.

The project is being developed by Al Farwaniya Property Developments, a partnership between Agility, United Projects for Aviation Services Company (an Agility affiliate), and the National Real Estate Company, all based in Kuwait.

On 21 November 2017, the group backing Reem Mall announced that it had signed a $457m senior credit facility to complete financing on the project.

Itinera has already built Arese’s ‘Il Centro’ mall, one of the 10 largest shopping centres in Europe. In 2016, ‘Il Centro’ received the Mapic Award for the best shopping mall in the world.

Itinera CEO Massimo Malvagna said: “Signing this prestigious contract to build Reem Mall rewards Itinera’s skills and know-how in implementing highly complex civil and industrial building projects with great architectural value.”

Al Farwaniya CEO Shane Eldstrom said: “We are continuing to steadily progress towards the delivery of Abu Dhabi’s new lifestyle, retail and entertainment destination.

“We are very excited about working with Itinera Ghantoot JV for the main construction of Reem Mall and are confident that they will maintain the highest quality of work throughout the construction process and deliver a mall that Abu Dhabi, and the wider UAE, can be truly proud of.”

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