MAJID Al Futtaim Properties, a leading shopping mall, retail and leisure property developer, will build a new shopping mall in Dubai’s International Media Production Zone (IMPZ).

An agreement to this effect was signed between Majid Al Futtaim and Tecom Investments, a wholly-owned subsidiary of Dubai Holding and real estate developer and operator of world class industry-focused business parks.

To be built on an area of 1 million sq ft, the mall is scheduled for completion in 2015. Phase One of the shopping mall is expected to become a focal point for the residents of the local community as well as an attraction for businesses and employees based within IMPZ.

The mall is strategically situated in the growth corridor of Dubai near the intersection of Al Khail Road and Sheikh Mohammad Bin Zayed Road.

The first phase will serve the three burgeoning residential areas of Victory Heights, Jumeirah Golf Estates and Jumeirah Village, in addition to other communities such as Motor City, Sports City and Arabian Ranches.

George Kostas, CEO of Majid Al Futtaim Properties, said: “This shopping mall is part of the Dh3-billion ($816 million) investment programme in Dubai that Majid Al Futtaim announced late last year. This is in line with the Dubai Government’s plans for Expo 2020 and the leadership’s vision to attract more than 20 million tourists.”

Dr Amina Al Rustamani, Group CEO of Tecom Investments, said: “This development will add great value to serve the needs of the growing community in and around IMPZ.”