Joint venture plans malls
Dubai-based Majid al-Futtaim Shopping Malls has formed a joint venture with the local Al-Ghazzawi Group to build shopping malls and mixed-use properties in the kingdom. The first project by the venture will be the Jeddah Riviera Mall, a SR 1,100 million ($293 million) development in the city centre. 'We aim to capitalise on this retail boom and expand by developing many more malls,' says Graham Dreverman, chief executive officer.
Dubai-based Majid al-Futtaim Shopping Malls has formed a joint venture with the local Al-Ghazzawi Group to build shopping malls and mixed-use properties in the kingdom. The first project by the venture will be the Jeddah Riviera Mall, a SR 1,100 million ($293 million) development in the city centre. 'We aim to capitalise on this retail boom and expand by developing many more malls,' says Graham Dreverman, chief executive officer.
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