Abu Dhabi gets City Centre through Dh1.4 billion tie-up

Majid Al Futtaim and Al Jazira Club in partnership

ABU DHABI 2 August 2017: Abu Dhabi is to get its first-ever City Centre – City Centre Al Jazira – a joint venture between Majid Al Futtaim and Al Jazira Sports and Cultural Club.

Construction on the Dh1.4 billion City Centre Al Jazira, strategically located between the Airport Road and Al Muroor Road in the heart of Abu Dhabi, is set to begin in October 2017 and is scheduled for completion in early 2021. The centre will include 153 retail stores, a Carrefour Hypermarket, a 15-screen VOX Cinemas, Magic Planet family entertainment destination, a City Centre Clinic and a fitness centre, as well as indoor and alfresco dining choices. Total leasable area is expected to be 80,500 sqm within a built-up area of 215,000 sqm.

“The Al Jazira Sports and Cultural Club is a renowned and long-time established institution that believes in empowering and developing communities. By joining forces with Majid Al Futtaim, we are thrilled by the opportunity to play a role in the creation of a new lifestyle destination that will bring people together in the heart of the capital, Abu Dhabi,” said Saeed Mohammed bin Batti Al Qubaisi, Chairman of Al Jazira for Investment at Al Jazira Sports and Cultural Club

Mohammed Haji Khouri has been named Chairman of the joint venture.

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“City Centre Al Jazira marks a significant investment from Majid Al Futtaim into the UAE capital, driven by Abu Dhabi’s growing and affluent residential market and world-class infrastructure development projects, from transportation to museums,” said Ghaith Shocair, Chief Executive Officer Shopping Malls, Majid Al Futtaim Properties.

Majid Al Futtaim’s announcement of City Centre Al Jazira is part of plans to increase its total investment in the UAE by Dh30 billion by 2026, taking its total investment in the country to Dh48 billion.

Majid Al Futtaim announced new malls including My City Centre Masdar, also located in Abu Dhabi, which is set to open by the end of 2018, as well as City Centre Al Zahia in Sharjah, and My City Centre Al Dhait in Ras Al Khaimah.

By Angel Chan