The Emirates, Saudi Arabia and Egypt have unveiled the first-ever electronic shopping malls that will be built in collaboration with eCommerce major Alibaba Group.
The malls will feature more than 4,000 stores with shopping and entertainment spaces, a mall shopping center and a restaurant.
They are the first of its kind in the world and are expected to help boost commerce in the Middle East region, which accounts for almost half of the global economy.
“It will be the most significant and impactful project for the Middle-East in the past 15 years,” Alain Zeybek, chief executive of eCommerce at the three countries, said in a statement.
“This is a game changer for the region, with the potential to create an ecosystem that will help transform our markets and help us grow.”
Aladdin e Commerce, the world’s largest e-commerce provider, said its first project in the region is expected to generate more than $100 million in revenue.
Aladdin will build a mall in the capital of Riyadh, the second largest city in the kingdom, and then in the southern port city of Jeddah.
“Aladdin is committed to supporting its business in the UAE by opening up the eCommerce market and developing a shopping mall to complement its existing retail center,” said Sheikh Ahmad Al Khalifa, CEO of Aladdin.
“We believe the Aladdin mall will serve as a catalyst for eCommerce growth in the Kingdom and be a game-changer for the UAE.”