Tuesday, January 10, 2017

New AED 300 Million Project In Abu Dhabi - My City Centre Masdar

+Convenience-focused neighborhood retail concept tailored to the daily shopping needs of world’s ‘most sustainable’ low carbon city

+My City Centre Masdar will feature 60 retail outlets including a Carrefour Hypermarket and a City Centre Clinic across more than 18,000 sqm of gross leasable area (GLA)

+Easily accessible new mall will serve an estimated population of more than 75,000 residents and professionals

Set to open by the end of 2018, My City Centre Masdar will deliver a convenient, neighborhood retail experience which meets the daily shopping needs of more than 75,000 estimated consumers in surrounding areas. It will include 60 outlets across 18,000 sqm of gross leasable area (GLA), including a Magic Planet family entertainment center, a 5,760 sqm Carrefour Hypermarket, a City Centre Clinic to provide community-focused healthcare services, and convenient dining options for both residents and professionals within Masdar City.

Today around 2,000 people work at Masdar City and its residential population is expected to exceed 3,500 people within the next two to three years. Around 35% of the City’s planned built-up area will be completed over the next five years and nearly 30% has already been committed to, including private homes, schools, hotels and additional office space. Up to 40,000 residents and 50,000 workers and students will be based at Masdar City by 2030.

The one-level mall, to be constructed using Majid Al Futtaim’s international sustainability standards, will have shaded parking for 430 vehicles on its rooftop through the use of photovoltaic panels, with My City Centre Masdar’s energy and water consumption targeted to be 40% lower than comparable buildings, in line with Masdar City’s eco-friendly strategy.  The mall will aim to achieve an Estidama 3 Pearl rating, which is the equivalent of LEED gold building status for sustainability.

Located next to Abu Dhabi International Airport, Masdar City is the flagship sustainable urban development of Masdar, Abu Dhabi’s renewable energy company. A ‘greenprint’ for the future development of our cities, Masdar City applies real-world solutions in clean energy supply, water and energy efficiency, and the reduction of waste.

Ease of accessibility is vitally important for My City Centre Masdar, which will be served by integrated transport links, including an Abu Dhabi Metro line running along the main boulevard with a station situated next to the mall, within easy walking distance.

Masdar City is an innovation ecosystem, connecting education with research & development and business with investment opportunities. The City is home to the first clean-tech cluster in the Middle East to be integrated with a world-class research institute, the Masdar Institute of Science and Technology.

Majid Al Futtaim continues its expansion and enters Abu Dhabi’s shopping mall landscape, as part of the company’s strategy to increase its total investment in the United Arab Emirates (UAE) by AED 30 billion by 2026, taking its total investment in the country to AED 48 billion.  In addition to Abu Dhabi and Sharjah, the company is currently building new malls in Oman, Saudi Arabia, and Egypt, while redeveloping and expanding a number of its 20 existing retail and leisure destinations.

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