Georgia's new parliament opens first session amid mass protests and boycott    Gangsters block aid distribution in south Gaza    Russian deserter reveals war secrets of guarding nuclear base    Judge dismisses special counsel's election case against Trump    Best-selling novelist Barbara Taylor Bradford dies    Lulu Saudi Arabia celebrates its 15th anniversary with the grand launch of 'Super Fest 2024'    Cristiano Ronaldo's double powers Al Nassr to 3-1 win over Al Gharafa in AFC Champions League    Franchise registrations in Saudi Arabia surge 866% over 3 years    Al Ahli edges Al Ain 2-1, bolsters perfect start in AFC Champions League Elite    Saud Abdulhamid makes history as first Saudi player in Serie A    Culture minister tours Saudi pavilion at Expo 2025 Osaka    Saudi Cabinet to hold special budget session on Tuesday    King Salman orders extension of Citizen's Account Program and additional support for a full year    Al-Falih: 1,238 foreign investors obtain premium residency in Saudi Arabia    Most decorated Australian Olympian McKeon retires    Adele doesn't know when she'll perform again after tearful Vegas goodbye    'Pregnant' for 15 months: Inside the 'miracle' pregnancy scam    Do cigarettes belong in a museum?    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Majid Al Futtaim to invest SR14b to develop 2 largest world-class shopping malls in Saudi capital
Published in The Saudi Gazette on 09 - 02 - 2016

Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA), has announced plans to develop two new landmark shopping malls in Riyadh, which will see a series of luxury international fashion brands, as well as unique entertainment and leisure experiences come to the Kingdom for the first time at Mall of Saudi and City Centre Ishbiliyah.
The two new developments will bring the total number of Majid Al Futtaim owned and operated malls to more than 20 across the MENA region and will help to continue the company's rich heritage of launching many of the world's most sought after brands into new markets. The mall concepts are expected to be funded in line with the company's prudent financial management and consistent with its BBB credit rating levels.
Alain Bejjani, Chief Executive Officer, Majid Al Futtaim Holding, said: "Today is a significant milestone for Majid Al Futtaim, and one that we have been eagerly awaiting. For over 2 decades we have been shaping the retail landscape in the region and beyond by introducing its first integrated retail, leisure and entertainment experience, driven by the vision of our founder to create great moments for everyone, every day."
Moreover, "our spirit of innovation has seen us make it snow in the desert for the first time with Ski Dubai, introduce the region's first indoor and outdoor waterpark in Bahrain, and bring countless world-renowned international brands to the Middle East and beyond. We look forward to delivering similar life-changing experiences for residents and guests of Saudi Arabia through our new mall developments in Riyadh, which will also deliver more than 10,000 direct and indirect jobs to the capital."
Bejjani added: "Bringing to life such iconic destinations requires a significant amount of collaboration between the public and private sectors. We are privileged to witness the authorities welcoming our projects and investments by ensuring the highest levels of support and collaboration."
"We are confident that these Majid Al Futtaim destinations will delight our customers, drive economic growth and benefit local communities for many years to come."
In north Riyadh, Majid Al Futtaim plans to build Mall of Saudi, the Kingdom's largest and first fully integrated lifestyle destination, with a total land area of over 866,000 sqm which will include one of the world's largest indoor snow parks. The development plan also includes 300,000 sqm of shops, restaurants and entertainment areas, prime residential units, offices and show rooms space, luxury hotels, serviced apartment buildings and other public amenities.
The ‘Mall of' brand is Majid Al Futtaim's flagship super regional mall offering which brings unique experiences to customers in the MENA region, including snow parks and ski slopes, the most sought after brands from luxury to lifestyle, an exclusive mix of food and beverage, and other innovative retail concepts.
The first phase of development at Mall of Saudi, which is set to commence by mid-2017 and be completed by 2022, will see the opening of the mall, ski slope, one hotel and serviced apartment building as well as other general infrastructures. Future phases will include the development of the residential, office, medical center will provide a landscaped and green environment for both local residents and tourists to live, work and play.
In east Riyadh, Majid Al Futtaim plans to expand the region's largest mall network by building City Centre Ishbiliyah. The mall will be Saudi Arabia's first City Centre mall, which is an international award-winning brand with 13 malls located across the MENA region. It will cover over 100,000 sqm of gross leasable area and will feature 250 stores, a 9,000 sqm Carrefour hypermarket, a food court and an entertainment complex inclusive of Magic Planet. The key areas of the mall will be designed to create distinct precincts that flow into each other and create delightfully different experiences for the customers as they move from one to the other.
Majid Al Futtaim has had a significant presence in Saudi Arabia for more than 11 years through Carrefour, operating 12 hypermarkets and four supermarkets with more than 2,500 employees. The company also operates Enova in Saudi Arabia, a facility management company, through a joint venture operation with Veolia and owns a fashion retail business representing international brands such as Jane Norman, Juicy Couture and Peacocks. — SG


Clic here to read the story from its source.