DUBAI: Yas Mall in Abu Dhabi is getting a 500 million dirhams ($136.1 million) revamp, state news agency WAM reported.
The multimillion redevelopment plan will include an improvement of the mall’s spaces. It will also bring in new retail concepts, according to master developer Aldar.
About 40 percent of the mall’s gross leasable area will be repurposed to “high impact experiential” retail, food and beverage (F&B), and co-working spaces.
The global retail sector has been hard hit by the enforced closure of malls over the last year as governments sought to contain the rapid spread of the coronavirus pandemic. Now property developers are rethinking the design of offices, shopping centers and many other public spaces in response to an anticipated change in working practices and leisure trends.
Construction in key areas of the mall has already started, and will be done in phases over 12 to 18 months.
“Since opening its doors over six years ago, Yas Mall has become Abu Dhabi’s leading retail and leisure destination. Our transformational plan for the mall is in anticipation of evolving customer needs and in line with developing retail trends globally,” Jassem Busaibe, chief executive of Aldar Investment, said.
The plan will expand the mall’s F&B portfolio by 40 percent, and add a total of 15,000 square meters of office space, Busaibe said.
It also includes investing in technology that is meant to reduce the mall’s carbon footprint, in line with the UAE’s environmental agenda.