February 15, 2023

Majid Al Futtaim Announces 1st Mall in Metaverse in Dubai

Majid Al Futtaim Announces 1st Mall in Metaverse in Dubai Featured Image

Mall of Metaverse

Majid Al Futtaim Group, an Emirati holding company, announced its intention to establish the first mall in the metaverse in Dubai.

Announced during the World Government Summit in Dubai, the Mall of Metaverse will showcase Majid Al Futtaim on Decentraland, a prominent metaverse platform, according to Gulf News.

The metaverse-based mall project is now tested multiple times for releasing it publicly soon to enjoy an immersive experience in the virtual world in the areas of entertainment, retail, and leisure, given that brands and features would be available at the mall.

Following creating their avatars, visitors to the mall will find Carrefour, Samsung Store, VOX Cinemas, THAT Concept Store, and Ghawali.

Commenting on the announcement, CEO of Majid Al Futtaim Asset Management Khalifa Bin Braik said: “For us at Majid Al Futtaim, it is key to keep an eye on user and shopper behaviors and how they evolve over time. We want to find new ways of creating memorable moments every day – and we’re ready to deliver that even on a network of platforms as huge as the metaverse.”

Braik noted that the Mall of Metaverse would be a massive destination for those who are fond of digital experiences and their related technologies.

Meanwhile, Director of Omnichannels and Digital at Majid Al Futtaim Shopping Malls Fatima Zada pointed out that the growing demand for digital experiences over the past years pushed her company to leverage state-of-art technologies and launch such a project which is considered a step ahead of online shopping, adding Majid Al Futtaim pays attention to customers’ shifting needs, desires, and expectations.

The Dubai government, in July, launched the Dubai Metaverse Strategy, which aims to contribute $4 billion to the emirate’s economy. The strategy targets increasing the number of blockchain and metaverse companies fivefold within five years as well as offering 40,000 virtual jobs.

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