Dubai – Mubasher: Dubai-based Majid Al Futtaim on Tuesday announced officially breaking ground on the company’s largest mall in Sharjah, the UAE’s third-largest emirate.
Once complete, Majid Al Futtaim’s City Centre Al Zahia in Sharjah will be a valuable addition to the powerful City Centre brand portfolio, according to a statement.
Located at the intersection of Sheikh Mohammed bin Zayed Road and University Road, City Centre Al Zahia is a “super-regional mall” with AED 2.6 billion worth of investments and around 136,200 sqm of gross leasable area featuring a host of over 360 retail brands across its two-storey building.
Scheduled for inauguration in 2020, the new mall will serve as a trade area of more than 1.9 million people spread across Sharjah, Northern Emirates, and Al Zahia.
“City Centre Al Zahia will have a contemporary, light-filled aesthetic driven by Majid Al Futtaim’s commitment to sustainable, environmentally-sound building practices,” the company highlighted.
Commenting on the announcement, Ghaith Shocair, CEO for shopping malls at Majid Al Futtaim Properties, stated that “Sharjah’s robust economic growth and the continued investment in its tourism, manufacturing, culture, and transport sectors make it an ideal destination for further development, especially in the retail, food and beverage, and entertainment landscapes.”
“When complete, City Centre Al Zahia will be the vibrant hub at the heart of this residential destination,” he added.
This announcement follows a similar one by the Dubai-based mall developer that it will raise its total investment in the UAE by AED 30 billion ($8.17 billion) by 2026, bringing its total investment in the country to AED 48 billion ($13.07 billion), according to the statement.
