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Wed 12 Nov 2008 04:00 AM

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Carrefour is braced for Syrian debut

Hypermarket chain confirmed as the anchor store for mall developer's New Damascus development.

Majid Al Futtaim Group will invest an initial US $1 billion (AED3.67 million) to build its mixed use development in Syria, strategically located in New Damascus.

Intended to become to the new "town centre" for residents, the project's site is located in the Sabboura Yafour district, which has been identified as a key growth corridor by the Syrian Government.

The development will span a floor area of 1.5 million m2, to include a 200,000m² two-level mall, with its anchor Carrefour Hypermarket to be a draw.

The group, known for its iconic Mall of the Emirates in Dubai, has already entered into discussions with leading international retailers seeking to be involved in the first stage of the huge project, scheduled for completion in 2012.

Anders Moberg, CEO of Majid Al Futtaim Group said that the group will "offer the people of Damascus the same fantastic choice in shopping and entertainment as elsewhere in the region".

Once completed, the development will have hotels, serviced apartments, a souk, offices and mosques, while 30% of the site to be devoted to landscaped parks, gardens and pedestrian and cycle paths.

"Our centres are places where people do more than shop. It's where they go to share time with family and friends. We have always cared to provide the highest standards in all our developments and Syria is no exception," Moberg commented.

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