Saturday 4 December 2021

Mace lands Majid Al Futtaim's $4.3bn Riyadh retail project deal

RIYADH, October 4, 2021

Majid Al Futtaim, a leading shopping mall, communities, retail and leisure pioneer in the region, has appointed Mace, the global consultancy and construction company, to support the delivery of its flagship SR16 billion ($4.26 billion) integrated retail and lifestyle development - Riyadh North - including the integrated lifestyle destination, Mall of Saudi. 
The master-planned Riyadh North project and Mall of Saudi is expected to house over 600 retail stores across a 300,000 sq m gross leasable area, nine hotels and branded residences with 2000 keys, and Ski Saudi – the largest indoor ski slope and snow park in the Middle East. 
Reinforcing its commitment to Saudi Arabia and its contribution to Vision 2030, Majid Al Futtaim said its Riyadh North development is the fastest growing zone in the city and is already gathering pace.
Mace, which was appointed following a competitive regional tender process, has already mobilised its team and will oversee the entire Riyadh North development spanning nearly 1 million sq m of built-up area, including planning, construction, commercial and control management for the duration of the contract.  
On completion, it will create more than 114,000 direct and indirect jobs and will play a key role in elevating Riyadh’s position in global city liveability rankings to help the Saudi capital achieve top 50 status, said the statement.
Majid Al Futtaim – Properties CEO Ahmed Galal Ismail said: "The appointment of Mace as our project delivery partner marks an exciting step in our journey to bring the Riyadh North development, including our anchor retail offering, Mall of Saudi, to the city."
"As we edge closer to breaking ground later this year, we remain fully committed to bringing an unparalleled lifestyle and retail experience that will contribute further to Riyadh’s position on the world stage," stated Ismail. 
"Saudi Arabia is already home to the largest retail market in the GCC and we are confident that Riyadh North and the Mall of Saudi will be a natural partner of choice for established and up-and-coming brands to make their debut, and a premium living and lifestyle community for residents of and visitors to Riyadh," he noted. 
"With an existing solid base in Saudi Arabia, we are confident that our partnership with Mace will be a success," he added.
Mace has a wealth of consultancy experience and managing large-scale projects globally, including the London 2012 Summer Olympics and Expo 2020 Dubai. 
It also has a long track record with Majid Al Futtaim, having supported on the original development of Mall of the Emirates and its recent redevelopment and expansion, as well as working on City Centre Mirdif and City Centre Deira. 
On the big contract win, Mace CEO (Consultancy) Jason Millett said: "We are delighted to have been appointed as project delivery partner on the Riyadh North development and Mall of Saudi. Our relationship with Majid Al Futtaim dates back more than twenty years, and we are excited to continue the journey with this must-visit destination."
"Mace’s consultancy business is growing rapidly in Saudi Arabia on the back of our extensive retail expertise. Supporting the delivery of Riyadh North and Mall of Saudi is an exciting step forward as we continue to push the boundaries on major programme- and project delivery in the region," noted Millett. 
Earlier this year, Majid Al Futtaim had appointed lead design consultant Aecom for pre- and post-contract construction supervision for Mall of Saudi, which will also feature a flagship Carrefour hypermarket and 31 VOX Cinema screens, including the world’s largest Imax, and a Magic Planet.-TradeArabia News Service


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