Mubadala, Gulf plan retail development on Sowwah Island
Mubadala Real Estate & Hospitality (MREH) has entered into a joint venture with Gulf Related, a regional real estate development company to develop, lease, and operate “The Galleria at Sowwah Square.”
According to a press statement, the area - spanned over 33,000 square meter of gross leasable area (355,000 sqft) – will have signature retail and dining concept in Sowwah Square.
Scheduled to open in late 2012, ‘The Galleria at Sowwah Square’ will be a vibrant new shopping and dining destination with a full range of luxury to mid-market international retail offerings and internationally branded food and beverage outlets. This scheme has already generated significant interest from the international retail and restaurant communities.
‘The Galleria at Sowwah Square’ has been designed with a focus on quality and cutting edge design, a handcrafted tenant mix and well-conceived parking options which include dedicated parking as well as VIP and valet parking. A stunning sculptural atrium roof will be the highlight of the design, providing an iconic image for the new center with spectacular views of Abu Dhabi’s skyline.
Access to all project components will reflect a truly mixed-use strategy offering the same level of premium quality service offered to the blue chip tenants of the four Sowwah Square commercial towers. ‘The Galleria at Sowwah Square’ conveniently integrates shopping, dining, hotels, parking, cafes, and public spaces and is directly accessible from all four commercial towers.
Peter Wilding, Executive Director of Mubadala Real Estate & Hospitality, commented: “Over the past few months both our teams have worked closely together to ensure that ‘The Galleria at Sowwah Square’ delivers a unique and exciting retail and dining experience for Abu Dhabi.”
He added, “Sowwah Square is rapidly establishing itself within the region and internationally as the heart of Abu Dhabi’s new Central Business District and Gulf Related’s best-in-class expertise and brand relationships will ensure that the office and hotel community, Sowwah Island’s residents and visitors will have the opportunity to enjoy a dynamic atmosphere within a unique retail and F&B destination at Sowwah Square.”
Kenneth A. Himmel, Co-Managing Partner of Gulf Related and President and CEO of Related Urban said: “‘The Galleria at Sowwah Square’ offers Abu Dhabi’s most compelling opportunity to create a distinct shopping and dining destination on the waterfront as part of a dynamic mixed-use environment that will include luxury hotel flags, Grade-A office space unparalleled in the region and Abu Dhabi’s new Securities Exchange.”
He added, “Related Companies has created some of the most recognizable and celebrated mixed-use developments in the United States. We are excited to bring our expertise to Abu Dhabi through our partnership with Mubadala, leverage our strong European and U.S. retail, restaurant, and entertainment relationships, and to be a part of such a prestigious and promising development.”
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