Carrefour set to open 'anchor-store' in Abu Dhabi

RETAIL SPACE: The French retailer has said its anchor-store in the UAE capital will open in 2010.(Getty Images)

French retail giant Carrefour is to open a hypermarket within Deerfields Town Square, the AED1 billion ($270 million) mixed-use development in Abu Dhabi, it was announced on Sunday.

MBI, a venture capital firm specialising in real estate and financial investments, said it had signed a memorandum of understanding with Carrefour to lease the scheme’s first anchor outlet, with a store spanning 10,000 sqms.

Scheduled for completion in 2010, Deerfields Town Square will accommodate over 200 retailers, with its retail and entertainment components spreading across a 2.6 million square feet area.

Located in Al Bahia in Abu Dhabi, the development was launched by Abu Dhabi-based MBI as its first real estate project.

Abu Dhabi's retail spending is forecast to reach AED 7.19 billion in 2009, according to a recent report by Retail International.

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READERS' COMMENTS

Carrefour's Israel connection
Posted by Abdul M. Ismail, Liverpool, UK on Sunday 8 February 2009 at 15:13 UAE time


Readers may be interested to know that Carrefour, along with a number of other retailers such as Marks and Spencer, procure their products from Israel's Delta Galil Industries Limited.

Delta Galil is Israel's largest manufacturer and marketer of textiles and is one of the largest private-label underwear manufacturers in the world. Its founder, chairman and major stock holder Mr. Dov Lautman is a close associate of Israeli President Ehud Barak.

Sweatshop Watch has denounced Delta Galil for its exploitation of Arab labour.

While many in the Arab world denounce Israeli actions against the Palestinians, they seem quite content in buying products from companies such as a Carrefour that actively trade with Israel.

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