Global architectural and engineering firm Dewan has shared the first images of its newest project in Dubai with WAN: The Avenue Retail Development. Having signed a consultancy contract with Dubai-based retail estate development company Meraas, plans are to press forward with this high profile project as completion is scheduled for the third quarter of 2012.
This 350m stretch of commercial outlets is the first in a three-phase development scheme stretching 1.1km between Al Wasl Road and Sheikh Zayed Road, and will incorporate a range of retail brands, a major supermarket complex, various food and beverage outlets, and a healthcare clinic.
Speaking on the major development, Mohamed Al Assam, Founder, Chairman and Managing Director of Dewan explained: “Dubai’s retail property sector is proving increasingly stable and sustainable after the financial crisis, a fact that has led to a boost in investor confidence. This, in turn, is providing impetus to the industry’s growth momentum. With reports indicating significant growth in the sector, we are optimistic about the future.”
Supporting the retail outlets will be external seating with extensive landscaping, water features and various green spaces. Once completed late next year, the development will cover 12,800 sq m of the 53,000 sq m plot, leaving adequate room for future expansion. Contractors for phase 1 have been announced as Al-Futtaim Carillion.