
Dubai World Central (DWC) has signed a memorandum of understanding (MoU) with the Majid Al Futtaim Group to help conceptualise some of DWC’s upcoming retail districts.
DWC will provide its residents and visitors at least 1.93 million sq m of retail facilities over the next decade, says a spokesman for the developer.
As part of the agreement, DWC will explore how Majid Al Futtaim Group can provide expertise and retail consultancy to DWC’s retail facilities. The group will explore new concepts for the development, which will be home to at least 900,000 people.
DWC’s three real estate components, DWC Residential City, DWC Commercial City and DWC Golf City, which will see its first residents move in by 2010, will see a growth of 10 per cent to the emirate’s booming retail market, he adds.
DWC is nearly twice the size of Hong Kong island and nearly 29 per cent or 40 sq km of the project is dedicated to real estate developments.
In a separate development, DWC has restructured its free zone to enhance the project’s operation as the new airport draws close to commencing its cargo operations.
Dubai Logistics City – the world’s first truly integrated multi-modal logistics proposition – and DWC Aviation City have been brought together within one free zone unit, creating a powerful logistics and aviation component to support the world’s largest airport – DWC-Al Maktoum International Airport.