Dubai-based Majid Al Futtaim group will invest $8.17 billion (30 billion dirhams) in the UAE over the next 10 years.

The investments will be spread across mixed-use, retail and hospitality projects.

The company is planning to develop a 740,000 square metres (sqm) mixed-use residential, retail and hospitality community in Dubai.

On the retail side, the company will develop 10 new shopping malls under the City Centre brand. Additionally, it will expand its existing City Centre malls in Ajman and Me'aisem and convert them to regional malls, and develop a super-regional mall in Sharjah adjacent to the Al Zahia master-planned community.

In the hospitality sector, the company also plans to add six new hotels to its Mall of Emirates and City Centre Mirdif malls and in its planned mixed-use community in Dubai, bringing the total number of keys operated to 4,800.

The company will also take its retail-tainment model to Abu Dhabi for the first time. The new developments and expansions are expected to double MAF's total retail area in the UAE to 1.5 million sqm from 725,000 sqm.

The group's total investment in the country will reach 48 billion dirhams ($13.07 billion) by 2026.

On 2 May, 2016, Zawya Projects reported that in Oman, MAF plans to invest $1.337 billion (515 million Omani Rials) in new retail and entertainment projects over the next five years.

On 8 February 2016, a statement issued by the company said it will invest $3.73 billion (14 billion Saudi Riyals) to develop two shopping malls in Saudi capital Riyadh, including the Kingdom's first snow park.