Opening of Mirdif City Center at a cost of 3 billion dirhams
the date: March 17, 2010
Opening of Mirdif City Center at a cost of 3 billion dirhams
Peter Walichnowski, CEO of Majid Al Futtaim Properties, said that the company intends to open 10 City Centers in the Middle East region during the next five years, with total investments amounting to $4 billion. He said in a statement to Al-Bayan Al-Iqtisadi that the company is looking to several markets in the region, including the Gulf region, Egypt, Syria and Lebanon. City Center Mirdif is the company’s third in Dubai and the tenth in the region.
He added that the retail sector in the Emirates is expected to achieve growth of up to 15% during the current year compared to last year, which witnessed a decline in the volume of retail sales due to global economic conditions, noting that the Emirates, and Dubai in particular, remain a regional center in the tourism and commercial sectors thanks to its advanced infrastructure. It serves the growth of these sectors and makes it an attractive environment for tourists. The company intends to open similar projects in the emirates of Abu Dhabi and Fujairah. Yesterday, Majid Al Futtaim Real Estate Company opened City Center Mirdif at a total cost of 3 billion dirhams. It extends over an area of 196 thousand square meters and includes more than 350 stores that were opened on the first day out of 430. A store is available for rent.
