Majid Al Futtaim, shopping mall and community developer and retail and leisure operator, have announced plans to develop an all new, mixed-use community in Dubai, at Cityscape Global 2017. The community is set to become the company’s flagship lifestyle destination in the emirate by offering an unparalleled integrated living experience to both residents and visitors.
Strategically located in a key residential growth corridor in the emirate, the landmark will comprise premium quality homes developed in distinct but connected neighbourhoods building on the site’s unique topography and character to drive both emotional and aesthetic appeal for the community. The development will also feature seamless integration of greenery and public spaces to encourage social interaction and well-being.
The development will also feature Majid Al Futtaim’s retail, leisure and entertainment facilities to cater to the evolving expectations of residents and the wider community. Majid Al Futtaim is currently in talks with global and regional contractors with plans to unveil the master plan in H1 2018. The project is expected to be funded in line with the company’s financial management and consistent with its BBB credit rating levels.
“We are excited to announce plans for a flagship mixed-use community that is set to redefine the living experience in Dubai’s evolving and highly competitive real estate market. As is with all our projects, the latest community will feature best-in-class offerings from across the Majid Al Futtaim integrated portfolio and will deliver on the highest standards of planning, design and quality to create a unique destination that remains close to the heart of its people and allows them to celebrate life, every day,” says Hawazen Esber, CEO, Majid Al Futtaim – communities.
At the event, Majid Al Futtaim also announced a number of updates to existing projects across the region:
Construction of the AED2.6 billion City Centre Al Zahia is on track for opening in late 2020.
Al Mouj Muscat will soon launch Marsa Plaza, a platform for performing artists, as well as a public space that draws people together, creating strong social bonds at the neighbourhood. The platform will also feature two new F&B outlets developed at the edge of the Plaza, in addition to the existing F&B offerings at the Walk, to create a sense of a traditional town square, offering a continuous animated frontage on all four sides. The community will soon be home to two new luxury hotels – the 4-star Mysk by Shaza, Al Mouj and 5-star Kempinski Hotel Muscat in Q4 2017.
The Waterfront City – a contemporary mixed-use development in Lebanon – is a community set to become one of the country’s main lifestyle destinations with an impressive range of food, leisure and retail outlets overlooking the marina to create an authentic and vibrant customer experience. Waterfront City will see the addition of 40,000 sqm of urban retail offerings anchoring luxury brands, high-end convenience and grocery, in addition to, gourmet stores.