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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