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Thursday, November 26 - 2009

Majid Al Futtaim Group unveils Syria expansion plan

  • United Arab Emirates: Thursday, December 21 - 2006 at 15:28
  • PRESS RELEASE

Majid Al Futtaim Group, one the region's leading property developers, today announced plans to invest in excess of US$2 billion in the Sabboura district in Syria, an area located on the outskirts of Damascus.

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  • In the Middle is His Excellency Minister of Tourism Dr. Sa'adullah Agha al-Qalaa, to his left is Jeffery Rossely, CEO of MAF Development and furthest left is Engineer Omar Ghalawanji, Director General of the General Housing establishment in Syria.
    In the Middle is His Excellency Minister of Tourism Dr. Sa'adullah Agha al-Qalaa, to his left is Jeffery Rossely, CEO of MAF Development and furthest left is Engineer Omar Ghalawanji, Director General of the General Housing establishment in Syria.
This fully integrated mixed use urban development in Syria is expected to become a major tourist destination offering at its core a super regional shopping, entertainment and lifestyle resort with 200,000 square meter gross leasable areas (GLA), 350 retail stores and numerous dining facilities and 2 hotels.

Surrounding this landmark project will be office complexes, service apartments, commercial space, landscape gardens, piazzas, and a town square to enhance facilities in the world's oldest continuously inhabited city.

Adjacent to the core of this project is a highway services zone which will cater to the needs of travelers on the Beirut Damascus highway providing rest-houses, service stations, fast food outlets, showrooms and service centers.

"Our aim is to create an integrated mixed-use development with something for residents and visitors alike," said Ahmed Bin Brek, Group Vice President of Corporate Development for Majid Al Futtaim Group. "Syria has great potential and we intend to capitalize on this by creating facilities that will answer the every day needs of Syrians and at the same time become a major attraction for visitors."

Framing all of this, will be a mixed residential and commercial area providing service apartments, summer and winter accommodation, parks and recreational amenities, creating a totally planned urban community.

"This large investment by Majid Al Futtaim Group shows our long term commitment to Syria and its unique potential for growth. It will generate new employment opportunities while offering top class retail, hotels and entertainment facilities. We intend to be part of the future success of Syria," concluded Mr. Bin Brek.
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Notes and media contacts

About Majid Al Futtaim Group:
Majid Al Futtaim Group LLC. is the region's most prominent developer of large consumer focused enterprises. The Group opened the first shopping mall in 1995 and has since created businesses of international significance which have changed the face of shopping, entertainment and leisure in the Middle East and North Africa (MENA).

Over the past decade Majid Al Futtaim Group LLC. has taken its groundbreaking concepts across the region to Oman, Qatar, Saudi Arabia, Bahrain, Egypt, Lebanon and now Syria. The Group consists of four major operating subsidiaries including: MAF Properties LLC. (MAF Hospitality, MAF Shopping Malls, MAF Developments, MAF Investment), MAF Trust LLC.(MAF ORIX), MAF Retail LLC. (MAF Hypermarkets) and MAF Ventures LLC. (MAF Fashion, MAF Dalkia, MAF Greater Union)


For additional press information, kindly contact:
Patricia Tellis / Amer Aidi
Promoseven Weber Shandwick Dubai
Tel: +971 4 321 0077
Fax: +971 4 321 1711

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