Manazel Crowns its AED1.072b “Capital Mall” and Gears Up for Opening Ceremony in 2012

Following a long line of successful endeavors, Manazel concludes its exemplary accomplishments by announcing the opening of its first shopping centre near Abu Dhabi 2030 Capital District and signs a deal with Geant Hypermarket to open their first branch in Abu Dhabi.

Abu Dhabi, Unite Arab Emirates - Sunday, December 25th 2011 [ME NewsWire]

Manazel Real Estate, one of the Middle East’s leading development companies, known for being specialized in middle income housing communities, announces the upcoming launch of “Capital Mall”, a project developed by Manazel Real Estate as part of its impressive 230,000sqm master development plan “9712 Capital”, located in the heart of Mohammed Bin Zayed City in close proximity to the new 2030 Abu Dhabi Capital.

Capital Mall will consist of 3 stories spanning 60,158sqm of commercial retail spaces to house 278 top brand fashion, electronics, jewelry, accessory, and service retail stores, in addition to entertainment outlets which include a diverse selection of restaurants and cafes.

His Excellency Mohamed Mehanna Al Qubaisi, Chairman of Manazel Real Estate, comments on this joyous occasion: “We are happily anticipating the opening of Capital Mall, which reflects Manazel Real Estate’s continued dedication towards the commercial and residential property growth of the new 2030 Abu Dhabi Capital and its place as a new major attraction for visitors looking for shopping and entertainment opportunities. Capital Mall has been completed in accordance to its proposed deadline, built according to quality and environmental protocol procedures and recently received the Building Completion certificate from Abu Dhabi’s local Authorities becoming yet another great symbol of Manazel Real Estate’s achievements”.

To this effect, Al Qubaisi announced that Manazel has signed contracts with several large local and global brands, lead by Geant Hypermarket, as part of their recent deal to open its first branch in Abu Dhabi at the Capital Mall, where it will be occupying 7200sqm providing the mall’s visitors with their daily shopping needs.

Capital Mall will be ready for its soft launch during the first quarter of 2012, with its official opening set for the second quarter of the same year. 

Al Qubaisi has expressed his pride at the completion of this symbolic project, which continues in the steps of Manazel’s legacy of success that it has achieved in recent years including the completion and submission of many illustrious projects, such as Al Reef Villas and Prestige Towers in Abu Dhabi, as well as Dunes Village in Dubai. Al Qubaisi stated that this would be an important addition to the area, due in part to its prime location in the new Capital District, where it will be providing its services to residents of Mohammed Bin Zayed City, as well as to neighboring areas such as Khalifa City, Al Falah, Al Raha Beach, Bani Yas, Al Shawamekh, in addition to other Capital District developments currently under construction in the area. Al Qubaisi concluded by saying: “Capital Mall will contribute tointroducingnew life into the area and will revitalize it in accordance to the Abu Dhabi 2030 vision of residential development within the new Capital District area”.

Arif Shaikh, Managing Director of Retail Arabia the operating company for Géant hypermarket said, “Our decision to open Géant hypermarket at the Capital Mall is because of the prime location. Its proximity to the Abu Dhabi International Airport places it in a unique position to attract shoppers not only from Abu Dhabi but also from Al Ain, Mussafah and Dubai. This coupled with the malls superior design and the management’s vision of international retailing standards makes the Capital Mall an ideal partner of choice for our brand.  This will also help strengthen the Geant brand in the region and give us economies of scale with suppliers to negotiate good deals and prices to ensure our customers get maximum value”.

Mr. Fahed Hareb, Chief Commercial Officer of Manazel Real Estate, commented that the interior design of the shopping centre differs from many other shopping malls in that it provides its visitors with an oasis-like environment, Capital Mall will house a grand atrium providing an abundance of natural light and a unique platform for events, promotions and customer intrigue due to the design including water fountains. The Shopping Centre is designed for a smooth flow of pedestrian traffic allowing its visitors to move through the mall with ease by providing an ample 3000 space parking lot over 3 basement levels, which includes handicap parking spots and valet services. “We have commissioned DTZ, as our agency of choice to manage leasing of all retail spaces within Capital Mall”, added Mr. Hareb.

Mr. Hareb concluded his comments by highlighting Capital Mall’s strongest feature: “With Abu Dhabi’s competitive market, Capital Mall succeeds in offering a complete combination of shopping and leisure in one pronounced location, as well as being an exceptional addition to the area’s commercial and retail market. Great care has been taken in the selection of the brands that will occupy retail spaces within the mall, which encompasses popular globally recognized names, in addition to some that will be entering the region for the first time. I trust that Capital mall will deliver a diverse experience to local residents of the area, and continue Abu Dhabi’s vision for the prosperous future of the new Abu Dhabi Capital 2030”.

About Manazel Real Estate

Headquartered in Abu Dhabi, Manazel Real Estate is counted as one of the region’s leading Real Estate developers of large-scale superior quality residential, retail, and commercial property projects for those with a medium income, which includes residents of the United Arab Emirates, as well as branching out to residents of the Middle East and North Africa. Manazel is strongly dedicated to the development of lively compounds within well-planned, richly serviced environments.

Manazel Real Estate is the first private shareholding company in the Emirates which accumulates its capital through initial offering, in accordance to Shariah law.

Among the most important projects currently in development by Manazel Real Estate, is Dunes Vilage at Dubai Investment Park, Al Reef Villas, near Abu Dhabi International Airport, and 9712 Capital at Mohammed Bin Zayed City.

Contacts

Mr. Eyad Al Badda

00971 50 8946650

00971 4 3448807

eyad@mediumr.com

Medium Rare - Media & Public Relations Division