Majid Al Futtaim Holding is building a ‘super-regional’ shopping mall at Al Zahia community in Sharjah, which is planned to open in 2018. Al Zahia is a 1.3 million square metre (14m sq ft) masterplanned gated community being developed by Majid Al Futtaim and owned by Sharjah Holding, a joint venture between Majid Al Futtaim and the Government of Sharjah. The new mall’s construction was confirmed as a part of Majid Al Futtaim Holding’s announcement that the group plans to invest AED 30 billion (US$ 8.2b) in the United Arab Emirates over the next ten years.
Al Zahia community is located close to Sharjah University City and Sharjah International Airport, with access to road links to Dubai and the Northern Emirates. The development offers a range of 3, 4 and 5-bedroom townhouses and villas, apartments, commercial space and amenities including landscaped parks and mosques. The first homeowners took possession of their new properties last year and the development is expected to house over 12,000 residents when completed in 2019.
Majid Al Futtaim already operates the City Centre Sharjah mall on Al Wahda Street in Sharjah city, which opened in 2001 and attracts some 11.4 million visitors per year. The shopping mall is currently being expanded, adding 13,400 square metres (144,236.4 sq ft) to its existing gross leasable area of 38,000 square metre (409,029 sq ft).
The new super-regional mall will have a gross leasable area of 130,000 square metres (1.4m sq ft) and will be named City Centre Al Zahia. The mall is expected to have a wide catchment area due to its strategic location near Sheikh Mohammed bin Zayed Road (E311), which connects the emirates of Dubai, Sharjah, Ajman, Umm al-Quwain and Ras al-Khaimah.
Majid Al Futtaim Holding plans to increase the total retail space in its mall network in the UAE from 725,000 sqm to 1,500,000 sqm over the next ten years.
Source: Majid Al Futtaim Holding