Yas Mall, a shopping centre planned by Aldar Properties for Yas Island, has been downsized further to 235,000 square metres and is now expected open in 2013, said a senior company official.
The design of the shopping centre was cut from 300,000 sq metres to 250,000 sq metres last year and has been reduced further to reduce costs, said Fred Douglas, Aldar's director of leasing.
"Obviously, when things have changed with the financial meltdown around the globe, we obviously had to reassess things. And that has put the project into 2013 instead of 2012. But it is looking good."
Aldar also plans to relocate some of the large-format retail stores from Yas Mall to outdoor, standalone structures alongside the new IKEA store, which opened yesterday, Mr Douglas said.
The move would reduce costs for the mall developer and the mall's retailers, he said.
"Space in shopping malls is expensive to build . whereas you can take large-format retailers, the big boxes, and they just take a barn-style type of thing. They can build those cheaper," he said.
The revision of Aldar's plans comes as Abu Dhabi's retail space is set to boom - it is expected to double to almost 1.8 million sq metres by 2015, says the property broker Cushman & Wakefield. The scale of expansion in shopping space has some retailers and analysts concerned that the market in the emirate will become saturated.
Abu Dhabi is on track to have among the largest amount of shopping centre retail space per capita in the world, and surpass Dubai, where the bulk of the retail developments in the country have been concentrated. Dubai has 1,385 sq metres of shopping space per 1,000 people, more than the US average of 1,028 sq metres per 1,000, according to Cushman and Wakefield. In Europe, there is just 231 sq metres per 1,000 people.
Although Abu Dhabi has 936 sq metres per 1,000 people, it is set to hit 1,690 sq metres per 1,000 by 2015.
Other retail projects in Abu Dhabi have been scaled down in light of such concerns. Sorouh's plans for Lulu Island have been reworked. Deerfields Town Square, originally a Victorian-themed shopping centre in Al Bahia, has streamlined its design and reduced the retail space by 35 per cent to 83,613 sq metres.
Aldar began reworking the design of Yas Mall last year. Other projects on the island moved ahead last year as well. . Ferrari World, the world's largest indoor theme park, which is based on the Italian sportscar brand, officially opened in November.
Meanwhile, the company is moving ahead with its other projects in the capital. Central Market, Aldar's revamped version of Abu Dhabi's old souq, opened its first-floor shops last year, and retailers were fitting out the upper levels, Mr Douglas said.
The Emporium, a 170-store high-end shopping area connected to the souq, should open by the middle of next year, he said. About 70 per cent of the Emporium has been leased, and Mr Douglas said he expected all shop space to be leased by the end of the year.
aligaya@thenational.ae
Safety 'top priority' for rival hyperloop company
The chief operating officer of Hyperloop Transportation Technologies, Andres de Leon, said his company's hyperloop technology is “ready” and safe.
He said the company prioritised safety throughout its development and, last year, Munich Re, one of the world's largest reinsurance companies, announced it was ready to insure their technology.
“Our levitation, propulsion, and vacuum technology have all been developed [...] over several decades and have been deployed and tested at full scale,” he said in a statement to The National.
“Only once the system has been certified and approved will it move people,” he said.
HyperloopTT has begun designing and engineering processes for its Abu Dhabi projects and hopes to break ground soon.
With no delivery date yet announced, Mr de Leon said timelines had to be considered carefully, as government approval, permits, and regulations could create necessary delays.
The specs: 2024 Mercedes E200
Engine: 2.0-litre four-cyl turbo + mild hybrid
Power: 204hp at 5,800rpm +23hp hybrid boost
Torque: 320Nm at 1,800rpm +205Nm hybrid boost
Transmission: 9-speed auto
Fuel consumption: 7.3L/100km
On sale: November/December
Price: From Dh205,000 (estimate)
If you go
There are regular flights from Dubai to Addis Ababa with Ethiopian Airlines with return fares from Dh1,700. Nashulai Journeys offers tailormade and ready made trips in Africa while Tesfa Tours has a number of different community trekking tours throughout northern Ethiopia. The Ben Abeba Lodge has rooms from Dh228, and champions a programme of re-forestation in the surrounding area.
The past Palme d'Or winners
2018 Shoplifters, Hirokazu Kore-eda
2017 The Square, Ruben Ostlund
2016 I, Daniel Blake, Ken Loach
2015 Dheepan, Jacques Audiard
2014 Winter Sleep (Kış Uykusu), Nuri Bilge Ceylan
2013 Blue is the Warmest Colour (La Vie d'Adèle: Chapitres 1 et 2), Abdellatif Kechiche, Adele Exarchopoulos and Lea Seydoux
2012 Amour, Michael Haneke
2011 The Tree of Life, Terrence Malick
2010 Uncle Boonmee Who Can Recall His Past Lives (Lung Bunmi Raluek Chat), Apichatpong Weerasethakul
2009 The White Ribbon (Eine deutsche Kindergeschichte), Michael Haneke
2008 The Class (Entre les murs), Laurent Cantet
What is cyberbullying?
Cyberbullying or online bullying could take many forms such as sending unkind or rude messages to someone, socially isolating people from groups, sharing embarrassing pictures of them, or spreading rumors about them.
Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.
Parents should watch out for behavioural changes in their children.
When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
All you need to know about Formula E in Saudi Arabia
What The Saudia Ad Diriyah E-Prix
When Saturday
Where Diriyah in Saudi Arabia
What time Qualifying takes place from 11.50am UAE time through until the Super Pole session, which is due to end at 12.55pm. The race, which will last for 45 minutes, starts at 4.05pm.
Who is competing There are 22 drivers, from 11 teams, on the grid, with each vehicle run solely on electronic power.
THE SPECS
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed dual clutch
Power: 710bhp
Torque: 770Nm
Speed: 0-100km/h 2.9 seconds
Top Speed: 340km/h
Price: Dh1,000,885
On sale: now
