By Lubna Hamdan
Expansion in Northern Emirate is part of $8.1bn UAE investment strategy
Leading shopping mall firm Majid Al Futtaim has announced the launch of an $18m (AED68.5m) community mall in Ras Al Khaimah.
Due to open early next year, My City Centre Al Dhait is the company’s third ‘My City Centre’ mall. Its opening comes as part of the company’s strategy to increase its total investment in the UAE by $8.1b (AED30b) by 2026.
Located in between two growing residential communities in the North and South-West of Al Dhait in Ras Al Khaimah, the mall will begin construction this month.
It is set to bring a diverse mix of shopping and dining outlets, including 30 stores and a 1,178 square meter Carrefour Market.
“The new My City Centre Al Dhait shopping destination underscores the success of Majid Al Futtaim’s ‘My City Centre’ brand, a neighbourhood retail brand focused on offering accessible, convenient and lifestyle-oriented stores to serve surrounding communities,” said Ghaith Shocair, chief executive of Shopping Malls, Majid Al Futtaim Properties.
To complement its growth in the UAE, Majid Al Futtaim has ongoing expansion plans in Oman, Saudi Arabia and Egypt. It is also redeveloping a number of its 21 existing retail and leisure destinations in the region.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.