You are hereHome
Majid al-Futtaim Group to invest US$4 billion on 10 new Middle East shopping malls
Source: BI-ME , Author: BI-ME staff
Posted: Wed November 4, 2009 4:04 pm



Run MS Office Pro
2010 on latest Win7
Ultimate OS to
increase your
business confidence




Buy HP Pavilion
 laptop with Corsair
DDR3 RAM for
superb performance




Need a personal loan
in Dubai? Contact
Citibank UAE for all
of your banking needs




Find real estate for
sale or rent in Middle
East on Properties
in Middle East


Buy China Electronics
Products at
Wholesale Price


Free Shipping


vestidos de fiesta


DinoDirect


Buy Twitter Followers


Wasserhahn & Duschen


Handgiftbox


dhgate

UAE. Majid al-Futtaim Group plans to spend about US$4 billion on as many as 10 new malls as its MAF Shopping Malls unit expands in the Middle East reported Bloomberg, citing a company official. 

“It’s about US$4 billion,” Shahram Shamsaee, senior vice president of retail for MAF Shopping Malls, told Bloomberg in an interview today.

“But when you look at a project that’s three years out, it is hard to know for sure since it depends on so many factors including labor costs, raw materials, steel, cement, etc.”

MAF Shopping Malls plans to enter Syria by building two new centers in Damascus, as well as one in Beirut, Lebanon. The company will also announce a new project in Saudi Arabia, Shamsaee said, declining to provide further details.

“We are always on the lookout and doing some preliminary talks in other locations,” he said.

MAF Shopping Malls is the developer of Mall of the Emirates, the Dubai-based shopping center with an indoor ski slope, and Bahrain City Center, the country’s biggest mall.

Expansion plans for the Mall of the Emirates are on track and the new wing is set to open in September 2010, Shamsaee said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: June 18, 2013
INTERNATIONAL. Global emerging market equity allocations at lowest since 2008; A net 56% of global investors believe the world economy will strengthen over the coming year, up from a net 48% in May.
date:Posted: June 18, 2013
UAE. Atiq ur Rehman, CEO Citi - Middle East division - discussed the appeal of Dubai and its competitiveness as a global city, during a speech to over 100 graduating Executive MBA students and alumni at London Business School's "Spring Celebration Event".
date:Posted: June 18, 2013
INTERNATIONAL. Little substantive change will occur beyond more careful rhetoric regarding both Iran's nuclear program and Tehran's support for the embattled Syrian regime. While challenges to both Iran's domestic policy realignment and outreach to the US thus remain, Western and regional hopes for such change endure.
UAE. Atiq ur Rehman, CEO Citi - Middle East division - discussed the appeal of Dubai and its competitiveness as a global city, during a speech to over 100 graduating Executive MBA students and alumni at London Business School's "Spring Celebration Event".



Wide selection of craft tools and coloured pencils will give more options to your creative side


Doing business in the Middle East? Your starting point is GulfTradeHolding, the Middle East Business Directory