The latest venture of Majid Al Futtaim, City Centre Me’aisem, has officially been opened on the 1st of September, making it the sixth member of the City Centre family in the United Arab Emirates and 12th in this region. Located in in Dubai’s International Media Production Zone, the mall will include over 53 retail stores including Magic Planet and a Carrefour hypermarket.
The mall will also see the debut of pizza franchise 800 Degrees Neapolitan Pizzeria, Cath Kidston home furnishings store, and the United States of America based Greek restaurant, GRK Fresh Greek. The mall is also reported to have a City Centre clinic, an addition that will be attracting and catering to the demands of the eleven neighbourhood communities in this area.
It was in 2014 that the project of City Centre Me’aisem, a project worth AED 275 million, was launched among other investments of AED 3 billion that Majid Al Futtaim was undertaking. The mall, based on an area of 325,000 square feet, has a leasable area of 23,850 square metres with parking spaces available for 750 cars. City Centre Me’aisem will be targeting at least four million shoppers and visitors in its opening year.
Majid Al Futtaim currently operates 17 shopping malls in the MENA region and is continually looking to expand and grow its community mall venture, CEO Micheal Cesarz is reported to have said. Officials have stated that there are plans to open around 10 to 20 community malls in this emirate while also expanding such a venture in Egypt and Oman.
While CEO Micheal Cesarz did not divulge on the amount Majid Al Futtaim intends to invest to expand its portfolio of community malls, he did state that UAE is a key market with lots of opportunities for growth in the capital of Abu Dhabi and Sharjah.
There was also the launch of yet another business venture, My City Centre. A neighbourhood retail concept store, it will cater to the needs of the residents and communities in Sharjah and there are plans to launch more such neighbourhood malls under the My City Centre venture all over the UAE in the coming five years.