News Update

 

Faithful+Gould join Reem Mall development team

04 May 2015, Abu Dhabi, UAE: Faithful+Gould, one of the world’s leading integrated project and programme management consultancy firms with a strong foothold in the region, has been announced as the latest professional advisor to join Abu Dhabi’s US$ 1 billion Reem Mall project.

Set to be one of the most prominent retail and leisure developments in the UAE, Faithful+Gould will provide the development team of Reem Mall with a range of core services including cost management, development advisory, project controls and specialized commercial management.

Reem Mall, developed by the National Real Estate Company (NREC) in partnership with United Projects for Aviation Services Company (UPAC), is Abu Dhabi’s up and coming entertainment, dining and shopping destination.

The’s appointment of Faithful+Gould marks another significant step forward for the project, which, once completed, will deliver 2 million sq ft of retail, leisure, and dining and entertainment choices with some 450 stores including 85 food and beverage outlets.

As one of the Middle East’s leading project and cost management consultancies in the retail sector, Faithful+Gould has a thorough understanding of the cost drivers in retail developments underpinned by solid benchmarking data enabling it to integrate management and delivery in accordance with cost and programme aspirations while allowing for informed and timely decisions; therefore ensuring that Reem Mall’s interests are protected and best value is achieved.

Faithful+Gould has a reputation for successfully delivering high profile projects in the lifestyle sector in the Middle East. Projects include Al Zahia Mall in Sharjah, the Ritz Carlton Dubai, Yas Island Marina Hotel, Yas Waterworld Abu Dhabi, Jumeirah Beach Resort Dubai, Kempinski Hotels & Residences in Oman, KSA and Muscat and Qurum City Centre redevelopments in Oman and Jumeriah Lakes Towers in Dubai.

It has also been involved with the developments of Saadiyat Island and other iconic landmarks including the Sheikh Zayed National Museum, the Guggenheim Abu Dhabi Museum and the Louvre Abu Dhabi Museum.

Shane Eldstrom, Vice President – Development, NREC, commented: “As we move closer towards the construction phase of the project, it is essential that we have key management tools in place to ensure timely and efficient delivery of the mall. Faithful+Gould will help us with core strategic management and we look forward to working closely with the firm to deliver Abu Dhabi’s most exciting new shopping and entertainment destination.”

Campbell Gray, Faithful+Gould’s Managing Director for the Middle East, said: “We are very excited and proud to be supporting such an important and high profile project. Our proven track record in the region’s retail sector means we will guide the client and the design team on important factors such as space usage and building specifications, which optimise the retail experience, the client’s value for money, and return on investment.”

Established in Kuwait in 1973, NREC has grown into one of the largest real estate companies in the region with ventures across the Middle East and North Africa.

UPAC is one of Kuwait’s leading real estate management companies. Under the agreement, UPAC will invest up to US $224 million in the project through its real estate subsidiary, Al Arfaj Real Estate Company.