Al-Maryah Central Development receives UPCA approval

Al Maryah Central Development, the $1.5 billion mixed-use development by Gulf Related, has yesterday been granted Detailed Project Approval from the Abu Dhabi Urban Planning Council (UPC) for the Phase 1 retail component of the development.

Phase 1 of Al Maryah Central, the 3.1 million square foot mixed-use development will deliver a 2.3 million square foot shopping centre in Q1 2018 which comprises of 400 stores, 90 food and beverage outlets, a 20-screen cinema, a medical centre, a crèche, health-club, a public library, food market and will be fully connected to existing and future transport links.

The development will also deliver three rooftop parks atop the mall. Further phases will deliver two 400,000 square foot integrated towers set for completion by 2019; one with a hotel and serviced apartments and the other with luxury residences.

Kenneth A. Himmel, President and CEO of Related Urban and Co-Managing Partner of Gulf Related said, "Detailed Project Approval from the UPC for Phase 1 is yet another crucial milestone for Al Maryah Central, Gulf Related, our investors, retailers and the residents of Abu Dhabi, allowing us to meet our Q1 2018 opening date. This development will create an urban retail, leisure and entertainment destination on Al Maryah Island that will serve the rapidly growing customer base on Al Maryah Island as well as catering to the wider needs of Abu Dhabi city. We are well placed to deliver against our schedule, with construction having commenced at the end of last year, and are rapidly progressing with our finance and leasing commitments, on which we expect to make further announcements in the coming months."

Dr. Karim El Solh, CEO of Gulf Capital and Co-Managing Partner of Gulf Related said, "This milestone highlights our commitment to bringing high-quality, world class retail to Abu Dhabi, making Al Maryah Island a destination for residents and visitors near and far. Abu Dhabi is growing quickly, its economy is diversifying and expanding rapidly. We look forward to being part of that growth and helping Abu Dhabi reach its Vision 2030."
Source: WAM