Saturday 18 November 2017
 
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NEW LIFESTYLE DESTINATION

Majid Al Futtaim and Al Jazira Investment officials at the ground
breaking ceremony.

Majid Al Futtaim breaks ground on $381m UAE shopping mall

ABU DHABI, 17 days ago

Majid Al Futtaim, a leading shopping mall, communities, retail and leisure pioneer in the Middle East, Africa and Asia region, has officially broken ground on its new Dh1.4-billion ($381 million) lifestyle destination, City Centre Al Jazira in Abu Dhabi.

Strategically located in the heart of Abu Dhabi, between Airport Road and Al Muroor Road, City Centre Al Jazira will showcase beautiful architecture and design and will include 153 retail stores, a Carrefour hypermarket, a Magic Planet family entertainment destination, a fitness centre, as well as indoor and alfresco dining choices.

Total leasable area is expected to be 80,500 sq m within a built-up area of 215,000 sq m, said the statement from Majid Al Futtaim.

The new project will bring to the capital an integrated shopping, lifestyle and entertainment destination, contributing to Abu Dhabi's vision that aims to develop a competitive, sustainable and globally open economy, it added.

The ground-breaking ceremony was attended by Saeed Mohamed bin Butti Al Qebaisi, the chairman of Al Jazira Investment, Mohammed Haji Khouri, the vice-chairman of Al Jazira Investment and the chairman of City Centre Al Jazira, and other members of Al Jazira Investment board along with Majid Al Futtaim Holding CEO Alain Bejjani; Majid Al Futtaim (Properties) CEO Robert Welanetz; Majid Al Futtaim Properties (Shopping Malls) CEO Ghaith Shocair, besides Mohammed Haji Khouri, the vice-chairman of Al Jazira Investment at Al Jazira Sports and Cultural Club and the chairman of the joint venture.

Speaking at the launch, Al Qebaisi said: "Al Jazira Sports and Cultural Club is a well-established name. We believe in empowering our community, and we are thrilled to partner with Majid Al Futtaim, which will allow us to have the opportunity to have a major role in building a new lifestyle destination in the heart of Abu Dhabi."

Al Jazira Sports and Cultural Club is one of the famous names in the capital of UAE and it is very popular among the youth, he stated.

"We’re delighted to partner as investors and strategic partners with Majid Al Futtaim to build City Centre Al Jazira. We trust that this new lifestyle destination will offer Abu Dhabi and its visitors unparalleled experiences,” remarked Khouri.

On the new venture, Shocair said: "We are delighted to partner with Al Jazira Sports and Cultural Club to bring our first ever City Centre mall, City Centre Al Jazira to the capital. We hope that together, we will be creating great moments for everyone, everyday, for the capital’s communities."

“City Centre Al Jazira will be Majid Al Futtaim’s first super-regional mall in the capital. The UAE capital is enjoying prolific developments with its residential market, world-class infrastructure development projects from transportation, to museums and healthcare, which is positioning Abu Dhabi as a key market for us,” he added.

City Centre Al Jazira is Majid Al Futtaim’s latest indications of investment into Abu Dhabi’s shopping and entertainment landscape, underscoring the company’s leadership in the country’s retail and leisure sector.

The project is part of Majid Al Futtaim’s announcement made in June 2016 to increase its total investment in the UAE by Dh30 billion by 2026, taking its total investment in the country to Dh48 billion.

The retail pioneer said construction of City Centre Al Jazira was on track and forging ahead, with the contractor appointed to deliver the enabling works which will start in November.

The new super-regional mall is scheduled to open its doors in early 2021, it added.

In addition to City Centre Al Jazira, which is Majid Al Futtaim’s first City Centre mall in the capital, the company recently announced the upcoming My City Centre Masdar, set to open by 2019 in the capital.
The projects reiterate Majid Al Futtaim’s leadership in the UAE’s retail and entertainment landscape, contributing to the growth of the country’s economy. -TradeArabia News Service
 




Tags: Majid Al Futtaim | UAE shopping mall |

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