Aldar Properties, Abu Dhabi's leading property development, investment and management company, today announced that it has signed an agreement with Al-Futtaim to build the largest IKEA store in the MENA region on Yas Island, Abu Dhabi.

Yas Island, Aldar’s new leisure destination and host venue of the inaugural Formula 1™ Etihad Abu Dhabi Grand Prix, was selected for its ideal location in the centre of the new growth area for Abu Dhabi and its accessibility via a convenient and well planned road network. The ten-lane Shahama-Saadiyat Highway which passes through Yas Island will further increase the new store’s attractiveness as a shopping location as well as provide excellent brand positioning and visibility.

Omar A. Al-Futtaim, Vice Chairman and Chief Executive Officer, Al-Futtaim, said,
“We are delighted to be part of Al Dar’s breathtaking destination which will eventually attract visitors throughout the year to its world class facilities. It has been an Al-Futtaim group tradition to provide our customers with the best brands and services and the new IKEA store, which will be the biggest in the Middle East, endorses that commitment."

Mr. Ahmed Ali Al Sayegh, Chairman of Aldar Properties, added, “It is a great honour that Al-Futtaim have selected Yas Island as the site for this major IKEA store. The presence of this major international retail brand fits perfectly with our vision for Yas Island as an unrivalled shopping and entertainment destination.”

In addition to the state of the art Yas Marina Circuit that will host major motorsport events and other activities throughout the year, Yas Island will be home to seven hotels including the signature Yas Hotel, Yas Marina, a super-yacht marina with capacity for over 140 yachts. Yas Links Golf, the first “Links” Golf Course in the Middle East and Ferrari World Abu Dhabi, the world’s first Ferrari theme park. Further leisure, hospitality and residential elements are planned for Yas Island.

© 2009 Mena Report (www.menareport.com)