Mubadala Development Company and Majid Al Futtaim Group have signed a deal to construct a mixed-use development at the Grand Mosque District of Abu Dhabi, the companies announced on Sunday.
The project, located near Abu Dhabi’s city centre, will include a major shopping mall, hotels, and office space. The development will also offer major supermarket chain Carrefour.
The project will be part of the Arzanah residential development launched by Capitala, the Abu Dhabi-based real estate developer formed through a joint venture between Mubadala and the Singapore-based CapitaLand.
Arzanah, a 1.4 million square metre waterfront development featuring high-rise apartment towers and villas, is scheduled for completion by 2012.
The companies did not disclose the value of the development.
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