Partnership of Kuwaiti firms looks to develop shopping centre in UAE capital
- Kuwait firm looks to develop Abu Dhabi shopping centre
- Details of the project yet to be confirmed
Kuwaiti logistics firm Agility has reached an agreement with the local National Real Estate Company (NREC) for a $225 shopping centre investment in the UAE.
The shopping centre, which will be built in Abu Dhabi, will be developed in partnership with the local United Projects Company for Aviation Services (UPAC), according to a statement on the Dubai Financial Market (DFM).
Details of the project have not been released.
This will not be Kuwaits first shopping centre investment in Abu Dhabi, with NRECs subsidiary Al-Farwaniya Property Developments currently developing Reem Mall.
In September last year, MEED reported that Al-Farwaniya Property Developments had invited companies and joint ventures to express interest in construction work on the development.
The work involves the construction and completion of a large-scale regional retail mall located in the Najmat district of Al-Reem Island.
A contract is expected to be awarded for the enabling works in the second quarter of 2015, which will include earthworks, excavation and dewatering.
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