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Fri, Nov 29, 2024 | Jumada al-Awwal 27, 1446 | DXB
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Aldar announces Dh500 million redevelopment plan for Yas Mall
The new plan will see the introduction of over 100 new stores and innovative concepts that will enrich the retail experience and cater to evolving customer needs
Abu Dhabi - The plan is to be completed in phases over 12-18 months, with works commencing from the month of March 2021
Aldar Investment on Monday announced a Dh500 million redevelopment plan for Yas Mall, which will reinforce the asset’s position as the centrepiece of Yas Island, and see the launch of over 100 new stores and concepts.
The investment will also enhance the customer journey by reimagining the mall’s spaces. The redevelopment will further enable Aldar Investment to deliver a unique and diversified offering to tenants and customers by repurposing 40 per cent of its gross leasable area to high impact experiential retail, F&B, and co-working office spaces. Work on key areas of the mall is already underway and will be completed in phases over 12-18 months.
Despite the unprecedented challenges presented by the pandemic, Aldar has maintained steady footfall across its retail portfolio, while upholding the health and safety of its employees, customers, retailers, and the communities it serves.
Jassem Busaibe, CEO of Aldar Investment, said that since the opening of its doors over six years ago, Yas Mall has become Abu Dhabi’s leading retail and leisure destination. "Our transformational plan for the mall is in anticipation of evolving customer needs and in line with developing retail trends globally. The project will deliver a new and diversified offering to enrich the customer experience."
“We are also future-proofing a key asset that is at the heart of Yas Island and its many world-class attractions, drawing in more local and international visitors," he said. "It will also allow us to serve new communities growing around Yas Mall. This redevelopment is perfectly aligned with Abu Dhabi’s strategic vision to reinforce the capital’s position as a favourable destination for business, tourism, and living.”
The redevelopment will expand the mall’s F&B offering by 40 per cent, introducing a variety of F&B brands in addition to a new food hall and outdoor terraces to be located at the North Entrance, which will include a wide mix of local and international brands. Situated in the heart of Yas Mall, the revamped Town Square will offer an alfresco inspired dining experience with clear views of events and activations.
The Boulevard connecting Yas Mall with Ferrari World Abu Dhabi and CLYMB Abu Dhabi will become an all-new sports hub, showcasing the world’s best sports brands with five unique concept and experiential stores. The redevelopment will also add a total of 15,000sqm of office space to Yas Mall. This includes the recently launched Cloud Spaces, a co-working space designed as a differentiated business concept, which marks the first milestone in the redevelopment.
As part of Yas Mall’s commitment to the environment, it is introducing a customised composter transforming food waste to biosoil that will be used in 115,000sqm of the mall’s landscape. In addition, 60,000 lamps will be replaced with LED lighting across the mall. These changes will reduce Yas Mall’s carbon footprint by 59 tonnes per year and improve the mall’s recycling rate from 30 per cent to 40 per cent. As part of Aldar Investment’s commitment to the community, the redevelopment plan will include additional features to make the mall fully accessible to People of Determination. Yas Mall was recently awarded a Certificate of Gold by The World Disability Union to honour disability-friendly organisations.
rohma@khaleejtimes.com
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