MAF to invest $22mn in Sharjah under new retail strategy
‘My City Centre’ by MAF will be built in Nasseriya, Sharjah.
MAF’s plans for the future include the expansion of Sharjah City Centre
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UAE-based developer Majid Al Futtaim (MAF) has announced its new retail concept for its expansion plans across the country.
Titled ‘My City Centre’, MAF’s new neighbourhood retail concept will focus on lifestyle-oriented stores for residents in local communities. With an investment of $22 million (AED84 million), the first store under the plan will be developed in Nasseriya, Sharjah.
“My City Centre is a continuation of Majid Al Futtaim’s new brand strategy, and another milestone demonstrating the growing momentum of our expansion plans driven by new concepts into new markets,” said Dimitri Vazelakis, executive managing director – shopping malls for MAF Properties.
“With the launch of our first location in Nasseriya, we are delighted to introduce the first My City Centre to the burgeoning Sharjah community.”
MAF plans for the future include more such My City Centres across the UAE in the next five years, and is will be undertaken alongside the company’s other voluminous projects, such as the $272.2mn (AED1 billion) worth redevelopment of the Mall of the Emirates and an expansion of the Sharjah City Centre worth $54.4 million (AED200 million).
My City Centre – Nasseriya will feature 21 stores, including a Carrefour Market, across 5,540sqm of retail space. Amenities, such as banking, dining, electronics, accessories and pharmacies will also be a part of the development.
