UAE based Majid Al Futtaim intends to expand operations and open 10 new malls in the Middle East and North Africa over the next 10 years.

Mr Peter Walichnowski CEO of MAF said at the opening of their Mirdif City Centre mall that MAF will expand its operations throughout the region despite sales dropping in 2009. Although the opening of the Mirdif City Centre development has completed MAF’s core goal of three super regional malls in Dubai, they are keen to expand their retail portfolio in other parts of the UAE and the Middle East.

The developer is currently involved in the design stage of USD 817 million mixed use development in Syria, which is expected to contain a mall, hotel and office buildings. The project is planned for the Sabboura Yafour district of Damascus.

Mr Jonathan Emery VP of project management of MAF said that designs are also currently under way for a large retail development in Egypt. The proposed mall would be the third and largest of MAF’s portfolio in Egypt. MAF is currently drawing up plans for a community mall in the emirate of Fujairah. The project will be on a smaller scale than MAF’s retail developments in Dubai and will contain a Carrefour supermarket and other shops.

He added that elsewhere in the emirates, MAF has identified Abu Dhabi as a priority for new retail development, but no firm plans have been made.

(Sourced from MEED)