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.
Majid Al Futtaim has made significant strides toward environmental, social, and corporateJuly 5, 2022 | By RetailME Bureau
Consumers, investors, and other key stakeholders of fashion retail are at aMay 11, 2022 | By Zubina Ahmed
The Frozen Chicken’ as Spinneys was fondly referred to back in the
Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the
GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading
Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot
Eid Al-Fitr is an occasion to gather with your friends and family
Leading retailer LuLu Group further strengthened its presence in the Emirate of
Jones the Grocer, the Australian gourmet grocer and café chain, announces further
What is a perfect healthy snack for Ramadan? An assortment of dried
With Ramadan almost at it’s first week, we are wondering where can
In spirit of the holy month, Amazon announced that it will contribute
As consumer behaviour is changing and the demand for delivery is expanding,
As part of the ‘Gift an Iftar’ campaign, Festival Plaza, part of
Customers would most like to see future City Centre malls as spaces
Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer
Leading Hypermarket retailer Carrefour – owned and operated by Majid Al Futtaim
GMG, a global well-being company retailing, distributing and manufacturing a portfolio of
Some 88% of consumers in UAE and KSA have revealed that they
Have you thought of a situation when retail stores will offer refill
LEGO Certified Stores – owned and operated by Majid Al Futtaim together
Swedish home furnishings giant IKEA, has announced the opening of its first
Shopping while earning money or getting returns from a part of your
The global online fashion market is now a $500 billion industry, with
Apparel Group expanded its footprint in Qatar, with the launch of 20
As consumers are becoming more aware of the impact of cosmetic ingredients