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Majid Al Futtaim to invest $70m in City Centre Sharjah
Majid Al Futtaim, the shopping mall, retail and leisure developer with projects across the Middle East and North Africa, has announced that it will invest $70.7 million into a redevelopment initiative for City Centre Sharjah.
Coming as part of a commitment to invest $8.16 billion in the UAE by 2026, the redevelopment of City Centre Sharjah is expected to be complete by the last quarter of 2017. Hundreds of direct and indirect jobs are expected to be created by the project, Majid Al Futtaim said in a statement.
The announcement comes as the developer has begun a programme to analyse the changing needs of both residents and tourists to the UAE’s third largest emirate. While the mall will see an increase of 13,700sqm of retail space, the expansion will also include a 12-screen cinema, a clinic for the surrounding communities and new dining options.