Posted by Bob Brunskill
The group behind Souk at Qaryat Al Beri, a new waterfront dining, shopping and entertainment destination in Abu Dhabi, has endorsed statistics forecasting that retail space in the UAE capital could grow by as much as 42 per cent by 2012.
According to the group, the estimate is in line with Abu Dhabi's "Plan 2030" which aims to provide 1.3 sq m 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," it observed.
Souk at Qaryat Al Beri is located between the Maqtaa and Musaffah bridges and spans 6,222 sq m in an area adjacent to the Shangri-La Hotel district.
It houses retail and leisure outlets and alfresco dining terraces overlooking the waterfront.