Abu Dhabi Municipality Deals for Community Markets

Abu Dhabi Municipality has agreements with developers City Lights and Persistence to develop community malls at a separate location in the emirate.

Community markets will be built in Al Wathba, Al Shamkha and Yas Island. City Lights, an Abu Dhabi-based developer, is going to construct and operate the malls in Al Wathba and Al Shamkha whereas Persistence will build Yas project which will be developed on a 13,281 square metre retail centre.

The deal is finalised under Build, Operate and Transfer (BOT) agreement. According to the signed agreement, developers will be holding the plots for 32 years and responsible for completing construction in two years, operation and maintenance for next thirty years before handing them back to the municipality at the end of the term. It is a part of the plan to have 38 community markets.

“They are all almost the same size. They usually have an anchor supermarket, retail shops, coffee shops and some community service provisions. Also, where applicable, or where needed, we provide locals with government service counters to save them the hassle of travelling further,” says Jassim Al Dhaheri, Investment Advisor, The Municipality of Abu Dhabi City.

Source: TheNational

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