MAJID AL FUTTAIM, a leading shopping mall, communities, retail and leisure pioneer in the region, has appointed Mace, a global consultancy and construction company, to support the delivery of its flagship SR16-billion ($4.26 billion) integrated retail and lifestyle development – Riyadh North – including the integrated lifestyle destination, Mall of Saudi.
The master-planned development is expected to house over 600 retail stores across a 300,000-sq-m gross leasable area, nine hotels and branded residences with 2,000 keys, and Ski Saudi – the largest indoor ski slope and snow park in the Middle East.
Reinforcing its commitment to Saudi Arabia and its contribution to Vision 2030, Majid Al Futtaim said its Riyadh North development is the fastest growing zone in the city and is already gathering pace.
Mace, which was appointed following a competitive regional tender process, has already mobilised its team and will oversee the entire Riyadh North development spanning nearly 1 million sq m of built-up area, including planning, construction, commercial and control management for the duration of the contract.
Majid Al Futtaim – Properties CEO Ahmed Galal Ismail said: “The appointment of Mace as our project delivery partner marks an exciting step in our journey to bring the Riyadh North development, including our anchor retail offering, Mall of Saudi, to the city. As we edge closer to breaking ground later this year, we remain fully committed to bringing an unparalleled lifestyle and retail experience that will contribute further to Riyadh’s position on the world stage.
“Saudi Arabia is already home to the largest retail market in the GCC and we are confident that Riyadh North and the Mall of Saudi will be a natural partner of choice for established and up-and-coming brands to make their debut, and a premium living and lifestyle community for residents of and visitors to Riyadh.”
“With an existing solid base in Saudi Arabia, we are confident that our partnership with Mace will be a success,” he added.
On the big contract win, Mace CEO (Consultancy) Jason Millett said: “We are delighted to have been appointed as project delivery partner on the Riyadh North development and Mall of Saudi. Our relationship with Majid Al Futtaim dates back more than 20 years, and we are excited to continue the journey with this must-visit destination.”