Tuesday, Jan 10, 2017
ABU DHABI: Majid Al Futtaim has announced plans to build a new community mall in Abu Dhabi’s Masdar City with a total investment of Dh300 million.
Set to open by the end of 2018, My City Centre Masdar mall will have 60 outlets across 18,000 sqm of gross leasable area, including a Magic Planet family entertainment centre, a 5,760 square-metre Carrefour Hypermarket, a City Centre Clinic to provide community-focused health care services, and dining options for both residents and professionals within Masdar City.
Once it opens, the new mall is expected to cater to the daily shopping needs of more than 75,000 consumers in surrounding areas, according to Majid Al Futtaim. It added that currently around 2,000 people work at Masdar City and its residential population is expected to exceed 3,500 people within the next two to three years.
Around 35 per cent of the Masdar City’s planned built-up area will be completed over the next five years and nearly 30 per cent has already been committed to, including private homes, schools, hotels and additional office space, the retail and leisure developer said in a statement.
“Masdar City offers a ‘greenprint’ for the future, embracing economic, social and environmental principles of sustainability. The new mall is a testament to the emergence of Masdar City as a compelling destination for residents, business tenants and visitors,” stated Yousef Baselaib, Executive Director, Sustainable Real Estate at Masdar City.
The new mall coming up in the heart of Masdar City will be served by integrated transport links, including an Abu Dhabi Metro line running along the main boulevard with a station situated next to the mall, within easy walking distance. The single-level mall will also have shaded parking for 430 vehicles on its rooftop through the use of photovoltaic panels in line with Masdar City’s eco-friendly strategy.
Majid Al Futtaim is planning to increase its total investment in the UAE by Dh30 billion by 2026 taking its total investment in the country to Dh48 billion.
In addition to Abu Dhabi and Sharjah, the company is currently building new malls in Oman, Saudi Arabia, and Egypt, while redeveloping and expanding a number of its 20 existing retail and leisure destinations.
Gulf News 2017. All rights reserved.