26 May '15, 8am

Louvre and Guggenheim to anchor new LVMH-backed gigamall in Abu Dhabi #SURPRISE #notsurprised #gulflabor

Louvre and Guggenheim to anchor new LVMH-backed gigamall in Abu Dhabi #SURPRISE #notsurprised #gulflabor

A developer with ties to the owner of the Louis Vuitton designer label is to help build a 168,000 square metre luxury mall on Saadiyat Island connecting to Abu Dhabis three planned mega museums. The Tourism Development and Investment Company (TDIC), the master developer behind the ambitious Saadiyat Island project which includes the Louvre, Guggenheim and Zayed National Museum, yesterday announced it had formed a joint venture with L Real Estate, a private equity fund in which the Louis Vuitton owner LVMH is a minority investor. It plans to develop what is expected to be one of the largest shopping centres in the emirate. TDIC said The District mall would form a triangle between the three museums, providing shoppers with spectacular views of them and the Arabian Gulf. It said detailed design work on the mall was about to start while construction is scheduled to start in 20...

Full article: http://www.thenational.ae/business/industry-insights/prop...

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  1. 29 May '15, 7am

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