Sorouh Real Estate, one of the biggest developers in Abu Dhabi, yesterday launched a retail property brand as analysts warned of a dearth of shopping facilities at residential developments in the capital.
The developer said it would roll out Boutik, a shopping mall brand, in some of its major projects, with each shopping centre including an anchor supermarket and services such as banking, hairdressing salons and spas.
"The retail component is vital when you are developing new and modern communities as they greatly enhance the lifestyle experience," said Abubaker Seddiq Al Khouri, the managing director at Sorouh.
"Boutik is the culmination of over five years of retail-concept planning to ensure that our customers get what they are looking for."
The brand will be opened first in June in a 13,000-square-metre space at Sun and Sky Towers on Reem Island, with a Waitrose supermarket as an anchor tenant.
Later in the year, Sorouh will open Boutik Al Ain, a shopping mall in the centre of the city and housing a Carrefour hypermarket.
The residential developments Al Rayyana, near Abu Dhabi Golf Club, and Alghadeeron the border with Dubai, will also have Boutik shopping centres.
"We've been patient and careful in selecting the right mix of retailers at each Boutik location, taking into account the needs and tastes of residents, to ensure both convenience and high quality," said Mr Al Khouri. "The Boutik brand will be used across our residential portfolio."
Sorouh's announcement came as analysts criticised the quality of retail developments available in the capital's residential areas.
In a report published yesterday, the property consultancy Cluttons warned that poor retail facilities were dragging down home prices in some new developments.
In a separate report, Jones Lang LaSalle also criticised the breadth of retail malls and shopping centres in Abu Dhabi.
"Currently Abu Dhabi is lacking in terms of good-quality retail space. The majority of the existing supply has shortfalls such as poor layout, lack of parking or poor accessibility," the property specialist said in its report yesterday.
In total, Jones Lang LaSalle estimates, 271,800 sq metres of leasable retail space could enter the Abu Dhabi market this year, creating hundreds of new stores.
