Majid Al Futtaim Breaks New Ground in Sharjah with City Centre Al Zahia

 

AED 2.6 billion super-regional mall set to open in 2020

136,200 sqm City Centre Al Zahia will serve the shopping and leisure needs of more than 1.9 million people by 2020

Strategically located and easibly accessible from all directions, City Centre Al Zahia is also adjacent to Al Zahia, Sharjah’s award-winning, master planned community developed by Sharjah Holding PJSC, a strategic partnership between the Government of Sharjah and Majid Al Futtaim Properties

Sharjah, United Arab Emirates, : Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, today officially broke ground on what will be the company’s largest mall within the UAE’s third-largest emirate – City Centre Al Zahia in Sharjah. Once complete, City Centre Al Zahia will be a valuable addition to the powerful City Centre brand portfolio.

Strategically located at the intersection of Sheikh Mohammed bin Zayed Road and University Road, City Centre Al Zahia is a super-regional mall of 136,200 sqm of gross leasable area.

The super-regional mall will address the shopping and leisure needs of the residents of Sharjah, Northern Emirates and Al Zahia, an award-winning residential destination with six themed parks, leisure facilities and featuring 2,270 homes ranging from 3, 4 and 5 bedroom villas and townhouses to apartments of various sizes. When it opens in 2020, City Centre Al Zahia will serve a trade area of more than 1.9M people, as well as attracting residents of neighbouring Northern Emirates.

Offering a diverse mix of over 360 retail brands over two levels City Centre Al Zahia is anchored by a 15,100 sqm Carrefour Hypermarket, complemented by leisure options including VOX Cinemas, with 16 screens incorporating the latest theatre technology, and a 2,350 sqm Magic Planet family entertainment destination.

With a distinctive lantern-like design, City Centre Al Zahia’s architectural detailing echoes the annual Sharjah Light Festival.  In addition, the external food and beverage precinct, located at the mall’s entrance and with covered al fresco seating, will enhance Sharjah’s dining options for residents and tourists.  City Centre Al Zahia will have a contemporary, light-filled aesthetic driven by Majid Al Futtaim’s commitment to sustainable, environmentally-sound building practices.

“Sharjah’s robust economic growth and the continued investment in its tourism, manufacturing, culture, and transport sectors make it an ideal destination for further development, especially in the retail, food and beverage, and entertainment landscapes,” said Ghaith Shocair, Chief Executive Officer for shopping malls at Majid Al Futtaim Properties.

“The scale and long-term vision of the Al Zahia community warrant a retail and entertainment destination of this size and scope, in line with Majid Al Futtaim’s strategy to create malls that meet the current and future needs of the residents and tourists we serve.  When complete, City Centre Al Zahia will be the vibrant hub at the heart of this residential destination,” Shocair added.

City Centre Al Zahia’s ground-breaking comes following Majid Al Futtaim’s recent announcement that will see the company increase its total investment in the United Arab Emirates (UAE) by AED 30 billion by 2026, taking its total investment in the country to AED 48 billion. As part of its strategic development plan, Majid Al Futtaim continues to invest in the redevelopment of its existing assets in the Northern Emirates.

The expansion plans for City Centre Sharjah and City Centre Ajman are also key elements of Majid Al Futtaim’s overall UAE growth strategy announced in June 2016.                            City Centre Sharjah, one of the emirate’s largest and leading shopping destinations, is currently undergoing a AED 260 million redevelopment initiative set for completion in the last quarter of 2017. A comprehensive redevelopment of City Centre Ajman will see the mall almost double in size, from 29,000 to 52,000 sqm.  With an estimated cost of AED 600 million, the mall’s expansion is anticipated to conclude in the third quarter of 2017, followed by an additional refurbishment and redemising of the existing mall.

Following the opening of City Centre Me’aisem in September 2015 and                               City Centre Al Shindagha in 2016, and the successful delivery of Mall of the Emirates’ Evolution 2015 expansion initiative, City Centre Al Zahia is Majid Al Futtaim’s fourth major project to be announced in the UAE within the past 18 months.

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 35,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.

Majid Al Futtaim owns and operates 21 shopping malls, 12 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 175 outlets in 15 countries.

Majid Al Futtaim operates 284 VOX Cinema screens and 30 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski 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, and Crate & Barrel; and a healthcare business that operates City Centre Clinics. 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.

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About Al Zahia

Al Zahia – owned by Sharjah Holding and managed by Majid Al Futtaim Properties – is a milestone development that will help diversify the real estate sector of the Emirate of Sharjah. As Sharjah’s first integrated, mixed use gated community – rooted in the emirate’s values of family, community and culture – Al Zahia is on par with the high-quality, international building standards for which its developer, Majid Al Futtaim Properties, is known.

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