The opening of the $1 billion shopping center Reem Mall in Abu Dhabi has been pushed back two years from 2018 until 2020.
According to the developer’s chief executive, this is due to problems with its design and delays in receiving approvals. Al Farwaniya Chief Executive Shane Eldstrom added that a new tender to build Reem Mall on Reem Island will be awarded later this year.
With 2 million square feet of leasable space, Reem Mall will feature 450 stores and an indoor snow park. The project is estimated at $1 billion.
Majid Al Futtaim will operate the indoor snow park, a family entertainment center, and cinema complex in the anticipated Reem Mall. Since Al Futtaim already owns and operates Mall of the Emirates in Dubai, which features an indoor ski slope, they will be bringing their experience to the new mall.
The 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.
Reem Island is part of the city of Abu Dhabi and is located a few kilometers away from Al Maryah Island which boasts Abu Dhabi’s financial district and a $1 billion shopping center set to open in 2018.