Over 20 Per Cent of Overall Construction Completed
Abu Dhabi-UAE: 26 April, 2011 – Deerfield’s Town Square, the AED700-
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 today.
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 finalizing 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, Musaffa, Yas Island
and Reef amongst others, will offer unique facilities and rate high on accessibility.