Dubai: Deerfield's Town Square, the Dh700 million destination mall taking shape at the Al Bahiya district of Abu Dhabi, has achieved significant progress on the leasing and construction front and is on track for delivery in fourth quarter 2012, developers MBI said yesterday.
With Jones Lang Lasalle on board as retail and leasing consultants, over 34 per cent of the project has already been leased to retail tenants.
Nearly 40 per cent of the mall's 808,000 square feet of gross leasable area has been assigned for retail, while 24 per cent is allocated for retail anchor, 18 per cent for entertainment, 14 per cent for food and beverage options, and four per cent for services outlets.
Target footfall of 10 million visitors a year
The development is expected to receive a target footfall of 10 million visitors per annum.
The project financing mix now features a minority stake by its main contractor Fibrex Construction Group of Abu Dhabi.
More than 20 per cent of the construction has been completed to date at the Deerfield's Town Square. While the basement is completed, slabs on the Garden Level have additionally witnessed considerable progress.
Fifty per cent of the concrete cast is in place on the north side of the Garden Level Slab and 75 per cent of the concrete cast has been achieved on the south side.
