Majid Al Futtaim to invest $70m in City Centre Sharjah
Work on expanding and refurbishing the mall expected to be complete by Q4 2017
Majid Al Futtaim, the shopping mall, retail and leisure developer with projects across the Middle East and North Africa, has announced that it will invest $70.7 million into a redevelopment initiative for City Centre Sharjah.
Coming as part of a commitment to invest $8.16 billion in the UAE by 2026, the redevelopment of City Centre Sharjah is expected to be complete by the last quarter of 2017. Hundreds of direct and indirect jobs are expected to be created by the project, Majid Al Futtaim said in a statement.
The announcement comes as the developer has begun a programme to analyse the changing needs of both residents and tourists to the UAE’s third largest emirate. While the mall will see an increase of 13,700sqm of retail space, the expansion will also include a 12-screen cinema, a clinic for the surrounding communities and new dining options.
“Underscoring Majid Al Futtaim’s commitment to create great moments for everyone, every day, our $70.78 million investment in expanding and repositioning City Centre Sharjah will complement the company’s new super-regional mall being developed in Al Zahia, as well as the expansion of City Centre Ajman – reflecting the growth opportunities that we see in the UAE’s Northern Emirates throughout the next decade,” said Ghaith Shocair, chief executive officer at Majid Al Futtaim – Properties.
Part of the upgrading process will be a refreshing of the mall’s interior design, Shocair added. He said that significantly more natural light will be used in the expanded mall, while public areas and facilities will also be improved.
Entry points and parking will also be upgraded, with the aim of improving the mall’s accessibility.
The redevelopment of existing facilities and assets is a key element of Majid Al Futtaim’s overall UAE strategy, which was announced in June 2016. 10 new City Centre malls are in the planned, along with 28 cinemas and 40 Carrefour supermarkets.
A 740,000sqm community also located in Sharjah is planned by the end of 2020.
Mall operations for City Centre Sharjah are expected to continue as normal for tenants not going under redevelopment, the developer said, adding that the priority was minimal disruption to operations during the period.
