Alain Bejjani, CEO of Majid Al Futtaim Holding Business, announced that the company will begin building on the Mall of Saudi Arabia today, with a 16 billion riyal investment.
Bejjani added, in an interview with Al Arabiya channel, on the sidelines of the Future Investment Initiative that the company is on the verge of a new investment, which is the Mall of Saudi Arabia, with an investment value of 16 billion riyals.
He stated that it will be implemented over the following four years, implying that it will be one of the Kingdom’s largest private sector investments in this subject (commercial complexes).
He pointed out that the Mall of Saudi Arabia will be a great addition to the retail sector, not only in Saudi Arabia but in the world as a whole, explaining that it is one of the few malls in the world, which is considered a leap in the retail industry.
Even throughout the recovery time, Majid Al Futtaim’s CEO emphasized that Saudi Arabia is the region’s top market, adding, “We are persevering in our investments inside the Kingdom.”
The mammoth project will be established in the Saudi capital, and it is planned to become an important tourist destination in Riyadh, which is currently turning into one of the ten largest economic cities in the world