Abu Dhabi: Aldar Properties, the Abu Dhabi-based real estate developer, announced on Wednesday that that its largest asset, Yas Mall, welcomed more than 20 million people since its opening date — 18 million of whom visited in 2015.
Ahead of the mall’s opening in late November 2014, Aldar had said it expected Yas Mall to attract 20 million people in its first year of operations.
According to the company’s statement, the mall saw 20 million visitors between its opening date and end of December 2015.
Mohammad Al Mubarak, chief executive officer of Aldar Properties, said in a statement that he expected the mall to see more visitors in 2016, but did not disclose any figures on expected footfall.
“By the end of 2015, 96 per cent of our tenants were trading, so now that Yas Mall is fully operational, and based on the very positive feedback we are receiving from our customers, we expect to welcome even more visitors over the next 12 months,” Al Mubarak stated.
He added that the addition of new flagship stores like Apple and Tryano at the end of last year complimented the company’s existing offerings that include one of the world’s largest Debenhams stores; Boutique 1; the world’s first UEFA Champions League Experience; House of Fraser; and the capital’s largest Vox Cinemas with 4Dx technology.
Driver for growth
Aldar, which is listed on the Abu Dhabi Securities Exchange (ADX), is soon expected to announce its financial results for 2015. Its results for the first nine months of 2015 showed that Yas Mall was a main driver for growth in recurring revenues, with the mall being fully leased.
Recurring revenue assets grew 47 per cent in the third quarter of the year to reach Dh349 million from Dh238 million in the same period in 2014.
The 2.5-million-square-feet Yas Mall houses Abu Dhabi’s first Apple store, Angelina Café, The Cheesecake Factory, Hamley’s, Joe Fresh, and Hollister, among other brands.
