New $190m Abu Dhabi mall on track for 2012 opening

Deerfield's Town Square, the $190m retail mall built in the Al Bahiya district of Abu Dhabi, is on track for delivery in Q4 2012, developers MBI announced on Tuesday.

With Jones Lang Lasalle on board as retail and leasing consultants, over 34 percent of the project has already been leased to retail tenants, the company said in a statement.
While Carrefour will be the anchor tenant, talks are currently taking place to finalise several mid-sized value-oriented family retail stores.

The development is anticipated to receive a target footfall of 10 million visitors per annum, it added.

Nearly 65 percent of the mall's 808,000 sq ft gross leasable area has been assigned for retail, with 24 percent of that allocated to the anchor retailer.

A further 18 percent of space will be for entertainment, 14 percent for food and beverage options, and four percent for services outlets.

More than 20 percent of construction has been completed to date.

Banu Tas, general manager of Deerfield's Town Square, said: "The community surrounding this emerging neighbourhood in Abu Dhabi is expanding and developing rapidly.

"By 2012, residences will reach 90,000 in the mall's vicinity. Clearly, the location is vastly underserviced in terms of retail, and Deerfield's Town Square will be uniquely placed to satisfy these needs."