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The new AED 68.5 million shopping mall is due to open early next year
Ras Al Khaimah, United Arab Emirates - Majid Al Futtaim—the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia— announced today its new up-coming neighborhood shopping destination in Ras Al Khaimah: My City Centre Al Dhait. The retail pioneer’s expansion into the Northern Emirate comes as part of the company’s strategy to increase its total investment in the United Arab Emirates by AED 30 billion by 2026. The new shopping mall will be serving Ras Al Khaimah’s communities early next year.
The new community mall, which represents an investment of AED 68.5 million, is Majid Al Futtaim’s third ‘My City Centre’ mall. Located in a strategic location between two growing residential communities in the North and South-West of Al Dhait in Ras Al Khaimah, it will begin construction this month.
My City Centre Al Dhait will bring a diverse and tailored mix of shopping and dining outlets, offering nearby residents a convenient and accessible experience, ideal for everyday shopping needs. It will be home to 30 stores across 5,494 sqm of gross leasable area, including a 1,178 sqm Carrefour Market, and will offer 117 parking spaces to visitors.
“The new My City Centre Al Dhait shopping destination underscores the success of Majid Al Futtaim’s ‘My City Centre’ brand, a neighbourhood retail brand focused on offering accessible, convenient and lifestyle-oriented stores to serve surrounding communities,” said Ghaith Shocair, Chief Executive Officer Shopping Malls, Majid Al Futtaim Properties.
“My City Centre Al Dhait is the most recent example of Majid Al Futtaim’s vision to create great moments for everyone, everyday, by providing accessible, convenient shopping and service destinations that addresses the immediate needs of residents through convenience and easy reach, while also acting as a social hub for the local community,” he added.
My City Centre Al Dhait was designed to address the needs of Al Dhait’s growing communities, as Ras Al Khaimah continues to expand its economy through manufacturing, tourism, and free zone activities. Both residents and tourists will benefit from a new range of shopping and dining options, delivered in line with Majid Al Futtaim’s commitment to quality.
Complementing the growth in the UAE, Majid Al Futtaim has expansion plans ongoing in Oman, Saudi Arabia, and Egypt, while redeveloping a number of its 21 existing retail and leisure destinations.
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About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 35,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.
Majid Al Futtaim owns and operates 21 shopping malls, 12 hotels and three mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 38 markets across Middle East, Africa and Asia, and operates a portfolio of more than 175 outlets in 15 countries.
Majid Al Futtaim operates 284 VOX Cinema screens and 30 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, and Crate & Barrel; and a healthcare business that operates City Centre Clinics. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.
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© Press Release 2017
