Majid Al Futtaim launches first mall in Ras Al Khaimeh
Majid Al Futtaim announced the opening of its first mall in Ras Al Khaimah, the My City Centre Al Dhait
Majid Al Futtaim announced the opening of its first mall in Ras Al Khaimah, the My City Centre Al Dhait.
The new $18m (AED68.5m) will be home to 30 stores across 5,494sqm of gross leasable area, including a 1,178sqm Carrefour Market, and will offer 117 parking spaces to visitors.
The mall is scheduled for an early 2018 opening.
Ghaith Shocair, chief executive officer shopping malls, Majid Al Futtaim Properties, said: 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.”
Majid Al Futtaim has expansion plans ongoing in Oman, Saudi Arabia, and Egypt, while redeveloping a number of its 21 existing retail and leisure destinations.
The company revealed last month that its total investment in Oman will reach $1.8bn (OMR705m) by 2020 with the opening of several malls, including City Centre Sohar and the $714.2m Mall of Oman, scheduled to complete by 2020.
The expansion is also part of the company’s strategy to increase its total investment in the UAE by AED30bn by 2026.