Project Generates High Retail Enquiries Post Cityscape Abu Dhabi 2008
Mubarak and Brothers Property and Financial Investments (MBI), a major investment company with key stakes in real estate and construction, infrastructure, and industrial ventures, today announced it has assigned world renowned Colliers International as its retail consultant for the AED1 billion ’Deerfields Town Square’ mixed-use project in Abu Dhabi.
Colliers International, a global professional real estate consultancy with over 293 offices in 61 countries offering services in Development Consultancy & Advisory, Investment & Advisory, Property & Asset Management, Professional Valuations Services, will oversee the progress of the development that will reflect classic Victorian architecture, and feature retail, commercial, residential and hospitality components in a total build up area of 3.2 million sq feet.
Banu Tas, General Manager of ‘Deerfields Town Square’ said: "Colliers International is known for its outstanding track record in the delivery of consultancy on shopping centers, retail leasing and mall management services. Colliers International’s expertise will set the Deerfields Town Square development on the right track and help us manage the incredible response we have received following the project’s launch and its showcasing during Cityscape Abu Dhabi 2008."
At the initial stage, Colliers International will be involved in assessing Deerfield Town Square’s design layout and making recommendation on specifications, positioning, development strategy for the retail areas and ensure optimal efficiency and sustainability.
Based on market research, analysis and experience, Colliers International will advise Deerfields of the right tenant mix, zoning (such as women’s fashion, men’s fashion, kids’ apparel, accessories, entertainment and food court) and assessing the most appropriate placement of specific brands to enhance key attractions to the Mall.
Colliers International will also negotiate contractual terms with major anchor shops to provide Deerfields with the best balance of retailers. Additionally, Colliers will be involved in proposing long term Leasing and Management issues as well as property performance advice.
Stuart Gissing, Regional Director of Colliers International said: "We are proud to partner with a prestigious firm such as MBI, which will add further value to our project portfolio. Deerfields will enter the market at a strategic time when the emirate of Abu Dhabi is expecting an increase in leasable area by 2010. The mutually beneficial relationship will create long term synergy for both organizations."
Featuring retail and entertainment components across 2.2 million sq feet, ’Deerfields Town Square’ will primarily comprise over 200 retailers from different segments, medium to upscale brands, anchor shops, retail chains, food courts, casual and fine dining restaurants as well as coffee shops.
Nestled in Al Bahia area amidst new developments in Abu Dhabi such as Al Raha Beach, Yas Island, and Khalifa A and B Cities, the development will also comprise a hotel.
The Deerfields Town Square project is scheduled for completion in 2010.
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