Retail Space In Abu Dhabi To Grow 42 Per Cent By 2012

The ’Souk at Qaryat Al Beri’ among new projects in the capital attracting shoppers and tourists

Retail space in Abu Dhabi is projected to record as much as 42 per cent growth by 2012, according to recently published statistics - an estimate that is in line with the capital’s ‘Plan 2030’, which aims to provide 1.3 sq. metres of retail space for each resident of the emirate. Given the impressive numbers recorded by Abu Dhabi in terms of salaries, disposable income and overall wealth, the city is set to witness a wave of new retail establishments including three new malls and the first phase of the Central Market project. Among the new projects in the capital that are attracting shoppers and tourists is the ‘Souk at Qaryat Al Beri’, the premier waterfront dining, shopping and entertainment destination located in ‘Between the Bridges’.

Offering quality, value and convenience, the ‘Souk at Qaryat Al Beri’ is quickly becoming a fixture in Abu Dhabi’s new communities of Khalifa City and Mohammed Bin Zayed City. As the premier waterfront dining, shopping and entertainment destination between the Maqtaa and Musaffah bridges, the sprawling retail and leisure hub spans 6,222 sq. m. in an area adjacent to the Shangri-La Hotel district, and houses retail and F&B outlets and alfresco dining terraces overlooking the waterfront. The festival organiser has also revealed that the project has crossed the 300,000-shopper mark in the first nine months of 2010, thereby underlining the rapid growth of the capital’s new satellite communities.

“The retail sector has been at the receiving end of Abu Dhabi’s focused efforts to diversify its economy from being a solely oil-dependent one, and is thereby witnessing massive investments from both the public and private sectors,” according to a statement from the festival organiser. “The early success of the ‘Souk at Qaryat Al Beri’ is testament to the vast potential of Abu Dhabi’s retail sector, and we are committed to providing more retail and dining options to the increasingly discerning customers in the emirate. Through this, we aim to contribute to increasing the cash flow in Abu Dhabi, which poses tremendous potential to be the region’s top retail hotspot.”

Housing a wide range of leading local, regional and international brands, The Souk at Qaryat Al Beri has recently opened its doors to new F&B facilities including The Meat Co., Noodle House, Lebanese Abdul Wahab Restaurant, and Abela, thereby joining the existing list of top-quality restaurants at The Souk, which include Certo, Eight, Left Bank, Le Paradis Du Fruit, Mombasa Grill, Red Carpet, Sho Cho, Starbucks and Ushna. In addition, leading fashion and luxury outlets will also set up shop at The Souk, such as Diamond Direct, Pure Gold, Damas, La Perla, Bateel, La Moda and the art store Gallery One.

The festival organiser also said in their statement, “We continue to welcome new additions to the rapidly expanding family of top brands present in the ‘Souk at Qaryat Al Beri’, as we work on the prompt completion of the second phase of development. We are also currently hosting weekly events called ‘Cultural Sundays’, ‘Carnival Fridays’ and ‘Rhythmic Tuesdays’, to encourage the local populace to visit The Souk and experience the many attractions we continue to prepare for them. Our confidence continues to grow as we witness a steady increase in footfall across the project, and we are confident that The Souk is on its way towards becoming one of the most popular leisure destinations of local and foreign tourists in the UAE.”
 

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