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18-Jan-2017

Yas Mall attracts 40mn visitors since opening in Nov 2014

Yas Mall has announced it has attracted c40mn visitors in the near two-year period since it opened in November 2014. Last year, Aldar Properties (Aldar) reported that from the end of 2014 to February 2016, the mall received more than 20mn visitors, of which 18mn were in 2015. We note that the total retail space in Abu Dhabi in 2016 stood at 2.6mn sqm, according to a recent report by JLL. c85,000 sqm of retail space is scheduled for completion this year, while a further 382,000 sqm is planned for 2018. (The National)   Aldar Properties (AD): AED2.64 as of 17 January 2017, Rating: Buy, TP: AED3.37 per share, MCap: USD5,656mn, ALDAR UH / ALDR.AD

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