French retail giant Carrefour is to open a hypermarket within Deerfields Town Square, the Dhs1billion ($270 million) mixed-use development in Abu Dhabi, it was announced on Sunday.
MBI, a venture capital firm specialising in real estate and financial investments, said it had signed a memorandum of understanding with Carrefour to lease the scheme’s first anchor outlet, with a store spanning 10,000sqms.
Scheduled for completion in 2010, Deerfields Town Square will accommodate over 200 retailers, with its retail and entertainment components spreading across a 2.6million square feet area.
Located in Al Bahia in Abu Dhabi, the development was launched by Abu Dhabi-based MBI as its first real estate project.
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