Dubai-based mall operator Majid Al Futtaim announces a new development plan to increase its total investments in the UAE by AED 30 bn by 2026, raising its total investment in the country to AED 48 bn, Arabian Business reports.

The investments comprise both new projects and the expansion of existing assets.

The mall operator plans to develop 10 new shopping malls under its City Centre brand, including a regional mall in Dubai and super-regional mall in Sharjah and a community mall in Masdar City.

Majid Al Futtaim will also expand its existing malls, including major extensions to City Centre Ajman and City Centre Me’aisem to turn them into regional malls, bringing its total retail space in its mall network in the UAE from 725,000 to 1,500,000 square metres.

The company will also expand its portfolio of hotels with six new developments across sites including Mall of the Emirates, City Centre Mirdif, and its planned mixed-use community in Dubai.

Under the new plan, the operator will introduce 10 new Carrefour hypermarkets and 30 Carrefour supermarkets.