The opening of Abu Dhabi's long-awaited Al Maryah Central, which had been scheduled to open last month, has now been set for August 2019.
The Dh5 billion, 2.8 million-square-foot mall is slated to include the first Macy’s store outside of the US and will now open on August 27 next year following several delays.
Developer Gulf Related broke ground on the project in late 2014 and initially set the opening date as March 1, 2018.
In September 2016, the developer said 50 per cent of the space had been let to 60 brands, and announced that the opening had been delayed until August 2018.
On Tuesday, Gulf Related, a partnership between the Abu Dhabi-based private equity house Gulf Capital and the US real estate investment firm Related Companies, said construction is now complete and tenants can now begin fitting out their stores.
“As we conclude construction, Al Maryah Central has now moved into the pre-opening phase,” said Daniel Parry, managing director and general counsel of Gulf Related.
“This important certification now enables our tenants to start the fit-out of their stores, ensuring we are ready to open to the public next August.
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"In the coming weeks, we will announce many additional brands, which together will create an incredibly exciting retail, entertainment and dining mix for Abu Dhabi’s residents and visitors.”
The mall is planned to include a 205,000 sq ft Macy’s store spanning four floors, in addition to a Bloomingdale’s as part of a commitment by Al Tayer, which represents both brands.
The Al Maryah Central Bloomingdale’s store is scheduled to be bigger than its existing Dubai Mall outlet, which is the brand’s most successful branch after the flagship Manhattan store.
The mall will include a flagship Zara store, as well as an All Saints, Lululemon and Alice and Olivia stores. There will also be a public library and five public parks, according to previous announcements.
The project includes two 400,000 sq ft integrated towers that will house a hotel and serviced apartments in one and luxury residences in the other.
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F1 2020 calendar
March 15 - Australia, Melbourne; March 22 - Bahrain, Sakhir; April 5 - Vietnam, Hanoi; April 19 - China, Shanghai; May 3 - Netherlands, Zandvoort; May 20 - Spain, Barcelona; May 24 - Monaco, Monaco; June 7 - Azerbaijan, Baku; June 14 - Canada, Montreal; June 28 - France, Le Castellet; July 5 - Austria, Spielberg; July 19 - Great Britain, Silverstone; August 2 - Hungary, Budapest; August 30 - Belgium, Spa; September 6 - Italy, Monza; September 20 - Singapore, Singapore; September 27 - Russia, Sochi; October 11 - Japan, Suzuka; October 25 - United States, Austin; November 1 - Mexico City, Mexico City; November 15 - Brazil, Sao Paulo; November 29 - Abu Dhabi, Abu Dhabi.
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Uefa Champions League semi-finals, second leg:
Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE
Game is on BeIN Sports
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Multitasking pays off for money goals
Tackling money goals one at a time cost financial literacy expert Barbara O'Neill at least $1 million.
That's how much Ms O'Neill, a distinguished professor at Rutgers University in the US, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home.
"I tell students that eventually, 30 years later, I hit the million-dollar mark, but I could've had $2 million," Ms O'Neill says.
Too often, financial experts say, people want to attack their money goals one at a time: "As soon as I pay off my credit card debt, then I'll start saving for a home," or, "As soon as I pay off my student loan debt, then I'll start saving for retirement"."
People do not realise how costly the words "as soon as" can be. Paying off debt is a worthy goal, but it should not come at the expense of other goals, particularly saving for retirement. The sooner money is contributed, the longer it can benefit from compounded returns. Compounded returns are when your investment gains earn their own gains, which can dramatically increase your balances over time.
"By putting off saving for the future, you are really inhibiting yourself from benefiting from that wonderful magic," says Kimberly Zimmerman Rand , an accredited financial counsellor and principal at Dragonfly Financial Solutions in Boston. "If you can start saving today ... you are going to have a lot more five years from now than if you decide to pay off debt for three years and start saving in year four."
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Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
Richard Jewell
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Two-and-a-half out of five stars
Arabian Gulf Cup FINAL
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World Cricket League Division 2
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UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
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4.30pm: Handicap 64,000 (D) 1,950m. Winner: Sa’Ada, Fernando Jara, Ahmad bin Harmash.
