Riyadh-Mubasher: Majid Al Futtaim (MAF) said it will invest SAR 14 billion in building two malls in Saudi Arabia’s capital Riyadh.
The first 300,000 sq m Mall of Saudi will include shops, restaurants, entertainment, offices, hotels and residential units, plus Saudi’s first indoor ski slope.
Work will start in mid-2017, with the first phase to be completed by 2022.
The second 100,000 sq m City Centre Ishbiliyah will include 250 shops. MAF did not specify its construction timetable.
Accordingly, the company's malls will total more than 20.
The two projects are expected to be financed in line with MAF's financial management and 'BBB' rating.
