A new tender to build Reed Mall on Reem Island, which was due to open in 2018, will be awarded later this year, Al Farwaniya Chief Executive Shane Eldstrom told reporters at a press conference in Dubai.
Reem Mall, which will feature 450 stores and an indoor snow park over 2 million square feet of leaseable space, will cost just over $1 billion to build, according to Eldstrom.
Reem Island is part of Abu Dhabi city and is just a few kilometres from Al Maryah Island, where Abu Dhabi has set up its financial district and where another $1 billion shopping centre will open in 2018.
Reem Mall will be financed by Kuwait's National Real Estate Company (NREC) and United Projects for Aviation Services Company (UPAC), partners in Al Farwaniya, and through funding raised from local and international banks, Eldstrom added.
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