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Sun 1 Apr 2007 11:02 AM

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Progress for US $30 million souq

Aldar Properties' AED 113 million (US $30 million-plus) Central Market project in Abu Dhabi, which is to be constructed by Mushrif, will be completed by mid-2008, developers said.

Aldar Properties' AED 113 million (US $30 million-plus) Central Market project in Abu Dhabi, which is to be constructed by Mushrif, will be completed by mid-2008, developers said.

Phase one of the project, which includes the underground parking structures of the souq, is due to be finished by the end of this year, and the development's foundations are already complete.

The basement structure, capable of holding in excess of 5000 cars, will serve the development's retail space, as well as its residential, office and hotel towers.

"The Central Market project is well on course for completion and it is important that we maintain the momentum we have achieved so far," said Ronald Barrott, CEO of Aldar.

"No major issues have arisen from the work conducted so far and we are very confident that Central Market will regenerate and rejuvenate this historical quarter of Abu Dhabi," he added.

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