Majid Al Futtaim announces key project milestonesat Cityscape Global 2018

• Al Mouj Muscat announces four flexible payment plans, complimentary courtyard upgrade during handover and zero registration fee.
• Waterfront City in Lebanon launches a range of exclusive subsidised expat loan programmes and special prices which include an 18% cash back on select units. 

Dubai, United Arab Emirates: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa, and Asia today announced the latest updates on their portfolio of projects in the region during their participation at Cityscape Global 2018.

Majid Al Futtaim – Communities continues to craft human-centric destination by bridging people, business and culture to create world-class communities.

Hawazen Esber, CEO of Communities at Majid Al Futtaim Properties said, “We are pleased to be a part of Cityscape Global again this year, it is the perfect platform to share best practices and converse on industry topics that currently impact the region’s real estate sector. We are firmly dedicated to developing communities with quality of life at their core and over the course of the coming year, we look forward to celebrating key milestones as we continue our phased development approach across our mixed-use communities including Al Zahia in Sharjah, Al Mouj in Muscat, and Waterfront City in Beirut.” 

Hawazen Esber, CEO of Communities at Majid Al Futtaim Properties said: “We are pleased to be a part of Cityscape Global again this year - it is the perfect platform to share best practices and converse on industry topics that currently impact the region’s real estate sector. As a master developer, we are committed to redefining the living experience by creating fully integrated communities that inspire people to celebrate life to its fullest. Over the course of the coming year, we look forward to celebrating key milestones as we continue our phased development approach across our Communities portfolio.” 

AL ZAHIA INTRODUCES LIMITED & EXCLUSIVE PAYMENT PLANS

At this year’s Cityscape Global event, prospective buyers can benefit from a variety of purchase options, including Sharjah’s first post-handover payment plan, guaranteed returns of 18% during construction and homes that start from AED 935 monthly. These options reflect Al Zahia’s unwavering commitment to pioneer in both developing an unrivalled community and facilitating homeownership at Sharjah’s premier lifestyle destination.

An award-winning, mixed-use development, Al Zahia is approaching its half-way sales point. With eight individually designed neighbourhoods and six themed parks, the community combines international standards of living with the Emirate’s deep-rooted family, community and cultural values. The well-designed luxury homes, which range from studio apartments to villas with 6+ bedrooms, are available to buyers of all nationalities. Upon full completion in 2023, Al Zahia will be home to more than 12,000 residents in 2,270 luxury homes. 

AL MOUJ MUSCAT OFFERS ATTRACTIVE INCENTIVES ON GHADEER PARKS

Also exhibiting as part of the Majid Al Futtaim Communities stand at Cityscape, Al Mouj Muscat is offering special incentives for buyers interested in the Ghadeer Parks residential community in the heart of the award-winning cosmopolitan waterfront community. Seamlessly blending contemporary style with traditional elements of the Omani culture and landscape, the affordable three-bedroom town houses at Ghadeer Parks start at OMR 259,000 and will be available to buy at Cityscape with four flexible payment plans, complimentary courtyard upgrade during handover and zero registration fee. Buyers can choose from 100% payment upfront for a discounted price, 50% upfront and 50% upon handover with a discounted price, 10% upfront and 90% on handover, as well as 10% down payment and pay the remaining over completion stages with a special price.

The 2.5 million sqm Al Mouj Muscat development, which is a joint venture between the Omani Government and the UAE-based Majid Al Futtaim Properties, currently stands at 44% completion in terms of developed land. With a diverse community of over 5,000 people from 70 nationalities living in the Al Mouj Muscat, the project provides a truly global environment in a politically stable, business-friendly and sound economic atmosphere. 

WATERFRONT CITY LAUNCHES SUBSIDISED EXPAT LOAN PROGRAMMES

Waterfront City in Lebanon is offering a range of exclusive subsidised expat loan programmes and special prices, with the aim of reaching the global Lebanese diaspora at Cityscape 2018. Offers include 18% cash back on select units, as well as exclusive long-term mortgage loans offered at a competitive interest rate of 4%.

This announcement comes on the back of Lebanon’s central bank’s decision to reinstate subsidised expat loans for prospective buyers/investors and follows a successful completion of the Central City Marina District - offering 670 new homes, the Levant’s most advanced business campus, and 30,000 sqm of urban retail space.

Strategically located on the country’s coast, and in close proximity to the main highway, the community boasts of an impeccable and well-connected infrastructure.  At present, 80% of the project has already been sold out, and by the end of 2018 more than 550 families will have moved in to the community. The vibrant urban retail space is scheduled to open later in 2019, offering residents, local and regional visitors unique experiences sourced from the world’s most iconic fashion, F&B and entertainment brands.

OTHER OFFERINGS

Also on display at Cityscape Global this year is Dubai’s flagship mixed-use community Tilal Al Ghaf, representing about AED 14-billion worth of investment. Envisioned as a premium residential community offering luxury living in a resort lifestyle environment, Tilal Al Ghaf is currently under development with the highest standards of urban design, sustainable living standards, and planning principles in mind. Spanning three million square metres, the project will include more than 6,500 freehold homes when complete by 2027, ranging from villas, bungalows, to townhouses and apartments.

In addition to the flagship mixed-use community Tilal Al Ghaf, in June 2018, Majid Al Futtaim – Communities entered a significant joint venture with Oman Tourism Development Company (OMRAN) to develop their latest mixed-use community in the western area of Madinat Al Irfan, a catalyst for change in Oman. The community, set to become the urban centre of Muscat, spans over 4.5 million sqm and represents an estimates project investment value of OMR 5 billion over a period of 20 years.

-Ends- 

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 15 international markets, employing more than 40,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.

Majid Al Futtaim owns and operates 23 shopping malls, 13 hotels and three mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The

Company is the exclusive franchisee for Carrefour in 38 markets across Middle East, Africa and Asia, and operates a portfolio of more than 230 outlets in 15 countries.

Majid Al Futtaim operates 322 VOX Cinema screens and 34 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai, Orbi Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. 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. The

Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.

www.majidalfuttaim.com 

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© Press Release 2018