Abu Dhabi City Municipality Proposes Seven New Public Markets
Seven new public markets will soon be built in the capital’s suburbs in order to offer access to a range of facilities for residential neighbourhoods, the Municipality of Abu Dhabi City announced on 19th April, 2017.
The projects, which are on display at Cityscape Abu Dhabi, will cost AED 550 million in total, said Musabbah Al Murar, acting general manager at Municipality of Abu Dhabi City.
“One of the key objectives of establishing markets and community facilities in these areas is to raise the standard of living in the city’s suburbs. These new structures will also promote social interaction, and allow residents to relax and unwind,” the official said.
Among the projects is a 9,000-square metre structure in Bani Yas that will cost about AED 45 million. In Shakhbout City, a two-year AED 160 million project will develop a 33,000 square-metre community market. In nearby Mohammad Bin Zayed City, AED 170 million will be invested by a private sector firm to set up a 36,000-square metre retail and entertainment venue.
On the first day of Cityscape, 18th April, the Municipality also signed agreements with three other developers.
Under the first agreement, Al Shamkha will see the development of a 16,000-square metre market at a cost of AED 68 million. A smaller 13,000-square metre structure will be built to serve the needs of communities on Yas Island, and it will AED 65 million. And In Wathba, a small 5,000 square-metre market will be set up at a cost of Dh21 million.
In addition, Khalifa City will also have another community market soon, and it will be attached to Al Raha Park. The development will span 2,700-square metres, and cost AED 15 million.
Along with a range of retail options, the public markets will offer residents access to sports centres, recreational and entertainment facilities and essential customer services.
Apart from community facilities, this year’s Cityscape Abu Dhabi has seen the launch of Bloom Properties’ Bloom Towers in Jumeirah, as well as the development model and plans of Abu Dhabi’s new residential and commercial hub, the 45-square metre Zayed City.
Master developer Aldar also revealed plans to invest AED 250 million into a new public park on Reem Island, and real estate developer IMKAN announced Makers District, an 18-hectare mixed-use development on the island