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- Development underlines Majid Al Futtaim’s commitment to Saudi Arabia including the creation of more than 114,000 direct and indirect jobs
- Flagship development will contribute to Vision 2030, elevating Riyadh’s position in global city liveability rankings to help the city achieve top 50 status
Riyadh: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has announced the appointment of Mace, the global consultancy and construction company, to support the delivery of its Riyadh North development, including the integrated lifestyle destination, Mall of Saudi.
Reinforcing its commitment to the Kingdom of Saudi Arabia and its contribution to Vision 2030, Majid Al Futtaim’s Riyadh North development is the fastest growing zone in the city and is already gathering pace. Mace, which was appointed following a competitive regional tender process, has already mobilised its team and will oversee the entire Riyadh North development spanning nearly one million square meters of built-up area, including planning, construction, commercial and control management for the duration of the contract.
The SAR 16 billion master-planned Riyadh North project and Mall of Saudi is expected to house over 600 retail stores across a 300,000 square metre gross leasable area, nine hotels and branded residences with 2000 keys, and Ski Saudi – the largest indoor ski slope and snow park in the Middle East. It will create more than 114,000 direct and indirect jobs by its completion and will play a key role in elevating Riyadh’s position in global city liveability rankings to help the Saudi capital achieve top 50 status.
Ahmed Galal Ismail, Chief Executive Officer at Majid Al Futtaim – Properties, said: “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. As we edge closer to breaking ground later this year, we remain fully committed to bringing an unparalleled lifestyle and retail experience that will contribute further to Riyadh’s position on the world stage. Saudi Arabia is already home to the largest retail market in the GCC and we are confident that Riyadh North and the Mall of Saudi will be a natural partner of choice for established and up-and-coming brands to make their debut, and a premium living and lifestyle community for residents of and visitors to Riyadh. With an existing solid base in Saudi Arabia, we are confident that our partnership with Mace will be a success.”
Mace has a wealth of consultancy experience and managing large-scale projects globally, including the London 2012 Summer Olympics and Expo 2020 Dubai. Mace also has a long track record with Majid Al Futtaim, having supported on the original development of Mall of the Emirates and its recent redevelopment and expansion, as well as working on City Centre Mirdif and City Centre Deira.
Jason Millett, CEO for Consultancy, Mace, said: “We are delighted to have been appointed as project delivery partner on the Riyadh North development and Mall of Saudi. Our relationship with Majid Al Futtaim dates back more than twenty years, and we are excited to continue the journey with this must-visit destination. Mace’s consultancy business is growing rapidly in Saudi Arabia on the back of our extensive retail expertise. Supporting the delivery of Riyadh North and Mall of Saudi is an exciting step forward as we continue to push the boundaries on major programme- and project delivery in the region.”
Earlier this year, Majid Al Futtaim announced the appointment of lead design consultant AECOM for pre- and post-contract construction supervision for Mall of Saudi, which will also feature a flagship Carrefour hypermarket and 31 VOX Cinema screens, including the world’s largest IMAX, and a Magic Planet.
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The legal name of this company is “Majid Al Futtaim” and should not be shortened or replaced by an acronym to avoid confusion with another business entity.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia.
A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 17 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.
Majid Al Futtaim owns and operates 29 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, Mall of Oman, City Centre malls, My City Centre neighbourhood centres, and five community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in over 30 markets across the Middle East, Africa and Asia, operating a portfolio of more than 375 outlets including City+, the region’s first checkout-free store, and an online store.
Majid Al Futtaim operates more than 500 VOX Cinemas screens as well as a portfolio of world-class leisure and entertainment experiences across the region including Ski Dubai, Ski Egypt, Dreamscape, Magic Planet, Little Explorers and iFLY Dubai. The Company is parent to a Fashion, Home and Specialty retail business representing international brands such as Abercrombie & Fitch, Hollister, AllSaints, lululemon athletica, Crate & Barrel, Maisons du Monde, LEGO and THAT, a Majid Al Futtaim fashion concept store and app. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management.
© Press Release 2021
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