Fujairah set for major development initiatives
“The retail sector in Fujairah is considered to be well underserviced. The Emirate’s retail potential is estimated at over AED 1 billion and only standalone hypermarkets and community centres are currently in operation,” said Peter Walichnowski, CEO, Majid Al Futtaim Properties.
H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, 5th April, laid the foundation stone of the new Fujairah City Centre, with the project being developed by Majid Al Futtaim Properties, a developer of shopping malls, hotels and mixed used community projects in the MENA region, in partnership with the government-owned Fujairah Investment Establishment.
Set for completion in the second quarter of 2012, the centre is strategically located at the intersection of the new Fujairah – Dubai highway and the existing Masafi Highway at the entrance to Fujairah City, and is planned to accommodate around 100 specialty retail stores, cafes and restaurants. Khansaheb Civil Engineering has been awarded the construction contract of the 30,000 GLA project with an estimated value of AED 400 million.
“Fujairah city centre will be our sixth mall in the UAE. It will cater to the increasing demand for premium shopping destinations and the growing population in Fujairah, which is expected to be in excess of 185,000 by 2012. So the centre will provide high quality shopping to cater for this population.
“The Fujairah city centre will add a new touristic attraction to Fujairah’s map bringing a wide group of leading international brands such as Carrefour and Centerpoint. It will also create a minimum of 1,200 job opportunities and add significant value to the real estate surrounding it,” added Peter Walichnowski.
The Fujairah city centre is a LEED registered project, currently targeting a Gold LEED rating under the USGBC green building guidelines. Upon completion, it is expected to be the first retail development to attain this rating in the Emirate of Fujairah.
Fujairah is recognised as a strategic city in the UAE due to its location on the east coast facing the Indian Ocean. While remaining one of the largest bunkering ports in the world, the Emirate of Fujairah is witnessing a series of developments that would enhance its leading position among the northern Emirates.
Two thirds of UAE’s oil is expected to be shipped out of Fujairah after the completion of the oil pipeline being connected from Abu Dhabi. The Emirate is also seeing an oil refinery being developed towards its nothern end, in addition to the construction of a strategic grain storage facility for the UAE and a new Fujairah-Dubai highway, which will reduce the drive time between the two Emirates by 45 minutes.
