Majid Al Futtaim, Al Jazira Club to launch City Centre Al Jazira in Abu Dhabi

RetailME Bureau

Majid Al Futtaim has announced the first-ever City Centre mall – City Centre Al Jazira – in Abu Dhabi. City Centre Al Jazira is a joint venture between Majid Al Futtaim and Al Jazira Sports and Cultural Club, a key football club in the UAE capital.

Construction on the AED1.4 billion City Centre Al Jazira, strategically located between the Airport Road and Al Muroor Road in the heart of Abu Dhabi, is set to begin in October 2017 and is scheduled for completion in early 2021.

The centre will include 153 retail stores, a Carrefour Hypermarket, a 15-screen VOX Cinemas, Magic Planet family entertainment destination, a City Centre Clinic and a fitness centre, as well as indoor and alfresco dining choices. Total leasable area is expected to be 866,495 sqft within a built-up area of 2.3 million sqft.

“The Al Jazira Sports and Cultural Club is a renowned and long-time established institution that believes in empowering and developing communities. By joining forces with Majid Al Futtaim, we are thrilled by the opportunity to play a role in the creation of a new lifestyle destination that will bring people together in the heart of the capital, Abu Dhabi,” says Saeed Mohammed bin Batti Al Qubaisi, chairman of Al Jazira for investment at Al Jazira Sports and Cultural Club.

“As part of Al Jazira Club’s vision to diversify its investments, the new shopping destination is an important addition to other investment projects which ensures the sustainability and diversity of Al Jazira Club’s portfolio,” adds Mohammed Haji Khouri, chairman of the joint venture.

“City Centre Al Jazira marks a significant investment from Majid Al Futtaim into the UAE capital, driven by Abu Dhabi’s growing and affluent residential market and world-class infrastructure development projects, from transportation to museums,” states Ghaith Shocair, CEO – Shopping Malls, Majid Al Futtaim Properties. “Bringing the City Centre brand of shopping malls to the capital will open the doors to an integrated shopping, lifestyle and entertainment destination for the community and contribute to Abu Dhabi’s vision that aims to develop a competitive, sustainable and globally open economy.”

Majid Al Futtaim’s announcement of City Centre Al Jazira marks the company’s latest investment into Abu Dhabi’s retail and entertainment landscape and underscores its leadership in the country’s lifestyle sector. This announcement is part of Majid Al Futtaim’s plans to increase its total investment in the UAE by AED30 billion by 2026, taking its total investment in the country to AED48 billion. Majid Al Futtaim announced new malls including My City Centre Masdar, also located in Abu Dhabi, which is set to open by the end of 2018, as well as City Centre Al Zahia in Sharjah and My City Centre Al Dhait in Ras Al Khaimah.