50 brands will open for the first time in a luxury shopping mall in Abu Dhabi as expansion in the region continues.
The 355,200 sq ft mall, called ‘The Galleria’ on Al Maryah Island, which is 100 per cent leased a year ahead of launch, will present the latest collections from designers including Louis Vuitton, Prada, Dior and Burberry.
“The Galleria represents a unique combination of world-class architecture, interior design and superior finishes that perfectly complement this unprecedented collection of luxury retailers. We look forward to building on the success of The Galleria with Sowwah Central which will open in 2017,” commented Kenneth A. Himmel, Co-Managing Partner of Gulf Related, President and CEO of Related Urban.
Of the 130 new stores and restaurants opening at The Galleria, 50 brands are “firsts” for Abu Dhabi – a record percentage for any project in the world. Private equity firm Gulf Capital, who set up a joint venture with Related Communities in 2009 to fund Gulf Ventures, recently signed a $120m loan facitility with Saudi Arabia’s National Commercial Bank to fund its first real estate project in capital city Riyadh.
Dr. Karim El Solh, CEO of Gulf Capital and Co-Managing Partner of Gulf Related commented: “The opening of The Galleria marks a key milestone in the expansion of both GulfCapital and Gulf Related.”