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Middle East shopping mall operator Majid Al Futtaim has appointed the former construction consultant of Expo 2020 Dubai to manage its mixed-use project in Riyadh, estimated to be worth 16 billion riyals ($4.3 billion)
UK-based Mace, which has been chosen after a competitive regional tender process, has already mobilised its team to oversee the Riyadh North development, a statement confirmed on Sunday.
Majid Al Futtaim’s Saudi project, which is expected to create more than 114,000 direct and indirect jobs once completed, covers nearly one million square metres of built-up area.
It will feature the Mall of Saudi, which will house more than 600 retail stores across a 300,000-square-metre gross leasable area (GLA), as well as nine hotels and branded residences with 2,000 keys. Another highlight of the project will be Ski Saudi, which is envisioned to be the largest indoor ski slope and snow park in the Middle East.
“The appointment of Mace as our project delivery partner marks an exciting step in our journey to bring Majid Al Futtaim’s Riyadh North development, including our anchor retail offering, Mall of Saudi, to the city,” said Ahmed Galal Ismail, CEO of Majid Al Futtaim – Properties.
The UAE-based conglomerate looks to break ground for the project later this year.
Mace, along with American consultancy Jacobs, had managed the construction of Expo 2020 Dubai site. It was also appointed the World Expo’s official programme delivery management provider.
Mace’s consultancy and project management portfolio includes the London 2012 Summer Olympics, as well as three of Majid Al Futtaim’s properties, Mall of the Emirates, City Centre Mirdif and City Centre Deira.
Majid Al Futtaim has been on an expansion spree, recently acquiring six shopping locations operated by South African retail giant Shoprite Group.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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© ZAWYA 2021