UAE-based developer and operator of shopping centres Majid Al Futtaim (MAF) Properties has announced an agreement with TECOM Investments, a wholly-owned subsidiary of Dubai Holding and real estate developer and operator of industry-focused business parks, to build a new shopping mall on 1,000,000 sqft of land located in Dubai’s International Media Production Zone (IMPZ).
The first phase – 300,000 sqft GLA – of the unnamed mall is scheduled for completion in 2015 and is expected to become a focal point for the residents of the local community as well as an attraction for businesses and employees based within IMPZ.
The mall is strategically situated in the growth corridor of Dubai near the intersection of Al Khail Road and Sheikh Mohammad Bin Zayed Road. Being connected to two of Dubai’s major highways, phase one will serve three burgeoning residential areas, Victory Heights, Jumeirah Golf Estates and Jumeirah Village, in addition to other communities such as Motor City, Sports City and Arabian Ranches.
“This shopping mall is part of the AED3 billion investment programme in Dubai that Majid Al Futtaim announced late last year. This is in line with the Dubai Government’s plans for EXPO 2020 and the government’s vision to attract more than 20 million tourists. Footfall and sales at all our shopping malls in Dubai continues to grow steadily, and we believe there is strong demand for our integrated shopping experience in local communities such as IMPZ,” says George Kostas, CEO, MAF Properties.
“This is in line with our vision to create vibrant communities across Dubai. As TECOM’s business parks are focused on the successful development of knowledge industries, we must create fully sustainable communities, with complete offerings like commercial, industrial, retail, hospitality and residential,” adds Dr Amina Al Rustamani, Group CEO of TECOM Investments.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
The Sultanate’s largest shopping destination, Mall of Oman, which opened its doors
Dubai Outlet Mall has announced a strategic partnership with Lulu Group to
UAE-based REDTAG will launch its specialized, new outlet in City Centre Deira
UAE-based Al-Madina Group opened two new projects, Crown Mall and Mango Hypermarket,
UAE-based REDTAG has launched its latest retail outlet on at Doha’s City Center
UAE-based Carrefour has opened a new store at the world’s busiest international
FILA has opened its new futuristic flagship store in Dubai Mall. The 158m²
UAE-based Times Square Center is getting ready to reveal its newly refurbished,
UAE-based Majid Al Futtaim has officially opened its newest lifestyle and retail
Carrefour has announced that it is expanding its robotic fleet, adding 11
Marking the 200th hypermarket opening in Cairo, Egypt, LuLu is celebrating the
Emerging technologies and IT integration in businesses have been taking place for