Mall project jobs boom
Firm says 170,000 posts to be created
Dubai-based retail giant Majid Al Futtaim Holding has announced plans to build 10 new malls as part of a major expansion over the next 10 years.
The company said the Dhs30 billion investment planned for the UAE would directly and indirectly create 170,000 jobs.
Majid Al Futtaim, which developed Mall of the Emirates, City Centre Deira and City Centre Mirdif, among others, gave details of the expansion at a press conference yesterday.
The expansion will include Sharjah’s first ‘super-regional mall’ and shopping centres in Abu Dhabi, including one at Masdar City.
It will also see the expansion of cinemas, leisure and entertainment, healthcare, fashion, 40 new Carrefour hypermarkets and supermarkets.
Alain Bejjani, CEO of Majid Al Futtaim Holding, said: “For more than two decades, driven by our vision to create great moments for everyone, every day, we have continually transformed the face of shopping, entertainment and leisure both here in the UAE and across the MENA region.
“In doing so, we have contributed to Dubai and the UAE becoming among the top global tourist and retail destinations, enhanced the lifestyle of their residents and delivered
nearly 200,000 jobs.
“With today’s investment plan, which is closely aligned to the government’s vision for the future, we will take our impact to the next level.
“Not only will we create hundreds of thousands of additional jobs, we will support Dubai and the UAE in becoming the world’s best retail-tainment destinations and deliver more life-changing experiences through seamless online and offline offerings.”
MAF will also undertake six expansions to its existing malls, including extensions to City Centre Ajman and City Centre Me’aisem, near Sports City.
MAF will also expand its portfolio of hotels with six new developments across sites including Mall of the Emirates, City Centre Mirdif and a planned mixed-use community in Dubai.
Robert Welanetz, CEO of MAF Properties, was asked if Dubai needed more shopping centres, but said rapidly growing population and increased tourism said there is still demand to be met.
Welanetz added: “First, there is a rise of population happening in the country, and second, there is a rise in tourism. So, Dubai is increasing its spot for retail.”