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Abu Dhabi set to host Dh700 million traditional souq

Abu Dhabi - The project will be co-developed by the Abu Dhabi Municipality and Al Qudra Holding

Abu Dhabi is developing a traditional Arabic souq on the shores of Maqta canal, opposite iconic tourist site Shaikh Zayed Grand Mosque.
The capital, which boasts modern shopping malls, was missing a traditional Arabic souq. Keeping in view the needs of residents, Abu Dhabi Municipality has conceptualised a new project which will be built in collaboration with private developer Al Qudra Holding under a public-private partnership (PPP).
The ground breaking of the project is expected towards the year end.
The Dh700 million project will be constructed on build, own and transfer, or BOT, basis. The Municipality will provide the land and the private partner will prepare the proposal, feasibility report and raise necessary finance, said Jaseem Al Dhahery, investment advisor to the Abu Dhabi Municipality.
The profits will be shared, but not equally, said Al Dhahery, as the Municipality wants to create modern infrastructure to serve the local community.
Dozens of different projects have been offered to the private sector in the past two years, involving Dh8 billion in investments.
Apart from the souq, the Municipality will build 36 community markets across the emirate and other projects such as a rest area at Ghantoot on the Abu Dhabi-Dubai border.
The souq, which has been displayed at the Abu Dhabi Municipality stand at Cityscape Abu Dhabi 2016, will be spread over 245,000 square metres. It will be next to the Ritz Carlton hotel on Khaleej Al Arabi street.
The project will have spaces for retail outlets, food and beverage units, handicraft shops, etc. It is expected to attract tourists who visit the Shaikh Zayed Mosque.
The covered souq will be located on the basement level to provide adequate space to market pavilions for organic fruits and vegetables, flowers shops as well as arts and handicrafts kiosks.

Pedestrian facilities
It will be connected to the visitors' centre, a development located near the Shaikh Zayed Grand Mosque, through underground pedestrian facilities which will also connect neighbouring areas with the souq.
Capitalising on Abu Dhabi's skyline, the souq's food and beverage areas will be located along the bay. Indoor and outdoor dining would be provided.
The souq's design reflects Islamic tradition and serves as an artistic reference to Emirati culture.
Last week, the Abu Dhabi Municipality broke ground on a mixed-use development in close proximity of the souq. To be developed on the PPP model, the Dh6 billion project is being built around a canal.
- haseeb@khaleejtimes.com