Gulf News reported that Aldar has awarded AED 2 billion contract to a subsidiary of Orascom Construction Industries, an Egyptian construction giant for the building of a 235,000 square meter shopping mall on Yas Island.

Six Construct, a subsidiary of the Besix Group in which Orascom Construction Industries holds 50% stake won the 5 year contract which will see the company develop Yas Mall part of Aldar's 1.2 million square meter plot on the island.

Aldar revealed this month that over 40% of the mall which will include restaurants retail outlets and a cinema had already been let out to retailers.

Orascom said that Yas Mall will feature 235,000 square meters of retail trading area housing a hypermarket, concept stores, high street and high end fashion outlets, a multiplex cinema and family entertainment center as well as many of the world's leading retail, restaurant and leisure brands.

Mr Ali Al Muhairi chairman of Aldar said that "The awarding of the main construction contract for Yas Mall is another key milestone in the strategic development of this significant leisure and entertainment destination that meets the needs of Abu Dhabi. As one of the largest retail developments underway in the region, Yas Mall demonstrates once again Aldar's ability to deliver significant projects in line with Abu Dhabi's strategic vision.

(Sourced from Gulf News)