Aldar Properties has awarded Arabian Construction Co (ACC) an additional Dh694 million contract to build the luxury shopping mall at Central Market, representing the final element of the Dh4.2 billion redevelopment of Abu Dhabi's old souk.
This follows Aldar Properties announcement in early September that Abu Dhabi's largest contract at Dh2.7 billion had been awarded to ACC for the Central Market Towers. By adding the retail areas, ACC's contract has been increased to Dh3.4 billion, which sets a new record for the Emirate. Designed by the world renowned International Architecture Firm, Foster and Partners, the development will capture the attention of a premium market looking for quality in retail brands and a sophisticated shopping experience.
The mixed use development includes a five- storey basement car park, 88-storey residential tower, 58-storey 5-star hotel, 58-storey office tower, 16-storey 4-star business hotel, souk, extensive retail outlets, external works and landscaping. The total area is approximately 700,000 square metres.
Central Market is Aldar's project in the heart of the Central Business District of Abu Dhabi. The development will create a premier 'city centre' hot spot for Abu Dhabi, delivering a fashionable city within a city. The souk, which will be located on the Corniche side of Khalifa Street, will connect to the rest of the Central Market development including the 382-metre high residential tower, the tallest tower on Abu Dhabi's skyline. The new retail development will provide a unique, modern high-end retail experience.
Aldar Properties CEO, Ronald Barrott commented, "The redevelopment of the central souk area of Abu Dhabi is a significant project for ALDAR Properties, as it will be a hallmark to the UAE."
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This follows Aldar Properties announcement in early September that Abu Dhabi's largest contract at Dh2.7 billion had been awarded to ACC for the Central Market Towers. By adding the retail areas, ACC's contract has been increased to Dh3.4 billion, which sets a new record for the Emirate. Designed by the world renowned International Architecture Firm, Foster and Partners, the development will capture the attention of a premium market looking for quality in retail brands and a sophisticated shopping experience.
The mixed use development includes a five- storey basement car park, 88-storey residential tower, 58-storey 5-star hotel, 58-storey office tower, 16-storey 4-star business hotel, souk, extensive retail outlets, external works and landscaping. The total area is approximately 700,000 square metres.
Central Market is Aldar's project in the heart of the Central Business District of Abu Dhabi. The development will create a premier 'city centre' hot spot for Abu Dhabi, delivering a fashionable city within a city. The souk, which will be located on the Corniche side of Khalifa Street, will connect to the rest of the Central Market development including the 382-metre high residential tower, the tallest tower on Abu Dhabi's skyline. The new retail development will provide a unique, modern high-end retail experience.
Aldar Properties CEO, Ronald Barrott commented, "The redevelopment of the central souk area of Abu Dhabi is a significant project for ALDAR Properties, as it will be a hallmark to the UAE."
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