Majid Al Futtaim to invest $3.5 billion in new shopping malls

Middle East developer to build new malls in Egypt, Lebanon, Syria and the UAE, all for completion by 2014.

May 2, 2010 5:07 by Ben Flanagan

Dubai’s Majid Al Futtaim Properties has announced plans to develop four new shopping malls in the UAE, Egypt, Syria and Lebanon.

The four new shopping malls represent a total investment by Majid Al Futtaim Properties of $3.5 billion over the next 5 years, the company said in a statement issued today.

The company currently operates 10 malls across the Middle East and North Africa region, it said. The new malls are scheduled for completion in 2014.

Tags: Beirut City Centre, Carrefour, Fujairah City Centre, Fujairah Investment Establishment, Majid Al Futtaim Properties, malls, Retail, shopping, shopping malls, The Mall of Egypt, The Mall of Syria

3 Comments

Faroug A.Ghani on May 3, 2010 11:14 am

Happy to hear this good news for building a new mall in my country, and it isreally a great and profitable project.
My family has a big vacant area of about 14,000 sq.meter in Alexandria on the sea side in a wonderfull place.
I feel it will be a very nice chance tograp it.
Miss Anne Thropic on May 3, 2010 1:08 pm

Does the UAE really need any more malls? Has anyone lately driven around and though “you know what? If only there were a few more malls here, this place would rock…”
Andrew on May 4, 2010 6:46 am

Malls in the UAE jumped the sharked when (Deira) City Centre opened. Back in 1996 that truly was an event. and other than the rather good Mall of the Emirates – the rest are pap.