Dubai-based retailer Majid Al Futtaim has confirmed that the first phase of its new shopping mall, City Centre Me’aisem, is set to open in the third quarter of 2015.
Located in the Me’aisem area of Dubai’ s International Media Production Zone (IMPZ), the mall’s first phase, valued at Dhs275 million, will feature 60 international outlets including fashion and lifestyle brands, casual dining restaurants, cafés and fast food chains, and banking and mobile services.
It is set within one million sq ft of land, allowing for planned future expansions by 2020, MAF said in a statement.
The project, first announced in March this year, will also include a 91,903 sq ft Carrefour hypermarket, a 6,243 sq ft Magic Planet family entertainment centre, a walk-in medical clinic and approximately 750 car park spaces.
“City Centre Me’aisem is another milestone in Majid Al Futtaim’s Dhs3 billion investment programme, and fulfills a growing demand for an integrated shopping and lifestyle destination within the burgeoning IMPZ and surrounding areas,” said Dimitri Vazelakis, executive managing director- Shopping Malls, Majid Al Futtaim Properties.
The new mall is located at the intersection of Al Khail Road and Sheikh Mohamad Bin Zayed Road in IMPZ, a 43 million sq ft site developed by TECOM.
It aims to cater to residents in the surrounding communities of Victory Heights, Jumeirah Golf Estates, Jumeirah Village Triangle, Jumeirah Village Circle, Motor City and Arabian Ranches and professionals working in IMPZ’s commercial zone, MAF said.
The Dubai-based retailer has been rapidly expanding its portfolio and currently owns and operates 17 shopping malls, 11 hotels and three mixed-use communities across the MENA region.
MAF is also developing two new hotels, renovating two existing hotels and redeveloping its flagship Mall of the Emirates in Dubai.
The unlisted firm aims to double the size of its business by 2018.