ID :
22659
Sun, 10/05/2008 - 13:03
Auther :
Shortlink :
https://oananews.org//node/22659
The shortlink copeid
UAE's Majid Al Futtaim Group announces US$1 billion investment in ‘New Damascus’, Syria
Dubai, October 5, 2008 (WAM) - UAE's Majid Al Futtaim Group has announced plans to invest an initial US$ 1 billion to build Syria's largest ever mixed-use development.
A press release by the region's premier developer of shopping malls said the development is strategically located in a residential part of Damascus, known as ‘New Damascus' where plans are in place to build a landmark master-planned development, which will serve as a new ‘town centre' for local residents.
The project's site, located in the Sabboura Yafour district, is strategically positioned on the Beirut to Damascus Highway and identified as a key growth corridor by the Syrian government.
Once complete, the development will cover a floor area of one and half million square metres including a two-level shopping centre (200,000 sqm), hotels, serviced apartments, Souk, offices, mosques, alongside a range of villas and apartments.
The mall, anchored by a Carrefour Hypermarket, will include a 14-screen cinema, Magic Planet, leading retailers, an international food court and a restaurant precinct.
The project's design, unique in Damascus and Syria, is centered around a new ‘Town Centre' concept, providing a focal point for local families. Majid Al Futtaim Group has also announced that 30 per cent of the site will be kept for landscaped parks, gardens and pedestrian and cycle paths.
The group has already entered into discussions with leading international retailers to be a part of the first stage, which is due to complete in 2012.
Commenting on the announcement, Majid Al Futtaim Group's CEO Anders Moberg said "(the Group's) commitment to Syria is significant and we plan to offer the people of Damascus the same fantastic choice in shopping and entertainment as everywhere else in the region." "Our centres are places people do more than shop, it's where they go to share time with family and friends. We have always cared to provide the highest standards in all our developments and Syria is no exception.
"We are very proud to have this opportunity and once finished I am sure the centre will provide the best that Majid Al Futtaim can offer."
A press release by the region's premier developer of shopping malls said the development is strategically located in a residential part of Damascus, known as ‘New Damascus' where plans are in place to build a landmark master-planned development, which will serve as a new ‘town centre' for local residents.
The project's site, located in the Sabboura Yafour district, is strategically positioned on the Beirut to Damascus Highway and identified as a key growth corridor by the Syrian government.
Once complete, the development will cover a floor area of one and half million square metres including a two-level shopping centre (200,000 sqm), hotels, serviced apartments, Souk, offices, mosques, alongside a range of villas and apartments.
The mall, anchored by a Carrefour Hypermarket, will include a 14-screen cinema, Magic Planet, leading retailers, an international food court and a restaurant precinct.
The project's design, unique in Damascus and Syria, is centered around a new ‘Town Centre' concept, providing a focal point for local families. Majid Al Futtaim Group has also announced that 30 per cent of the site will be kept for landscaped parks, gardens and pedestrian and cycle paths.
The group has already entered into discussions with leading international retailers to be a part of the first stage, which is due to complete in 2012.
Commenting on the announcement, Majid Al Futtaim Group's CEO Anders Moberg said "(the Group's) commitment to Syria is significant and we plan to offer the people of Damascus the same fantastic choice in shopping and entertainment as everywhere else in the region." "Our centres are places people do more than shop, it's where they go to share time with family and friends. We have always cared to provide the highest standards in all our developments and Syria is no exception.
"We are very proud to have this opportunity and once finished I am sure the centre will provide the best that Majid Al Futtaim can offer."
