TDIC to develop luxury retail complex on Saadiyat
‘The District’ is scheduled to open by 2017, developer says
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Abu Dhabi’s Tourism Development and Investment Company (TDIC) has announced that it will develop ‘The District,’ a retail destination on Saadiyat Island.
“This new retail destination — ideally sits among Saadiyat’s inspiring museums, beautiful landscape and coastal environment — will be a regional attraction and a highly prized sought-after location for Abu Dhabi’s communities and visitors when it opens by 2017,” said Shaikh Sultan bin Tahnoun Al Nahyan, Chairman of TDIC.
The retail complex which is scheduled to be completed by 2017 will have more than 550 units allocated for high-class fashion brands, dining outlets, family entertainment venues and various other stores.
TDIC said that the development will be one of the largest retail complexes in the emirate and “the first-of-its-kind” in the region. It will be divided into four distinctive zones: Luxury Street, Canal, Main Street and the Crescent Arcade.
TDIC has partnered with L Real Estate (LRE), a global real estate development and investment fund: “The project – with a gross floor area totalling 258,000 square metres and a total built up area of 370,000 square metres — will start a detailed design of the destination in 2013, while construction will commence in 2014 and be completed in 2017 around the time of the Guggenheim museum opening,” TDIC said in its statement.
