Al Futtaim to establish USD 3.5bn MENA shopping malls over next five years.

By bne IntelliNews May 3, 2010
UAE's  property developer Majid Al Futtaim Properties plans to invest USD 3.5bn to build four shopping malls in UAE, Egypt , Lebanon , and Syria over the next five years, the company said n a statement. Al Futtaim said its mall in UAE's Fujairah City Centre, covering 30,000-square meter is expected to finish by nest year. The Mall of Egypt, covering 158,400 square meters, and the Beirut Center in Lebanon, covering 60,000 square meters, are to be completed by 2013. The largest project in terms of space allocation will be The Mall of Syria, with 200,000 square meters, and is due for opening in 2014. Majid Al Futtaim currently operates 10 malls across the MENA region

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