Emaar Properties announces AED 1.5 billion expansion of Dubai Mall
Emaar Properties announces AED 1.5 billion expansion of Dubai Mall
Emaar Properties has announced a new 1.5-billion-dirham expansion of Dubai Mall, which will include 240 new luxury stores and dining options.
Mohamed Alabbar remarked that the new expansion would be a magnificent addition to one of the most visited attractions in the world, reflecting Dubai's ambitious vision to remain at the forefront of global innovation and culture, further solidifying its status as a leading global destination. In 2023, Dubai Mall became the most visited place on Earth, setting a record with 105 million visitors, a 19% increase from the previous year, and showcasing exceptionally high sales.
The mall, located next to the Dubai Fountain and Burj Khalifa, features the world's largest mall aquarium, an immersive digital art museum, a 155-million-year-old dinosaur skeleton, an Olympic-sized ice rink, and a 26-screen cinema. Despite the global decline in traditional retail, retail spending in the United Arab Emirates increased by 14% last year, driven mainly by fashion (up 31% year-on-year), general retail (up 16%), and leisure and entertainment (up 15%), according to the annual report by Majid Al Futtaim Group.
Founded in 1997 by Mohamed Alabbar, Emaar Properties is a leading real estate developer based in Dubai, United Arab Emirates. Emaar is renowned for its iconic projects such as Burj Khalifa and Dubai Mall. The company's portfolio includes residential, commercial, and hospitality developments across several countries, focusing on luxury and innovation.
Emaar has earned a reputable position in the global real estate market due to its commitment to quality and sustainability, significantly contributing to Dubai's status as a leading global city. The company's projects are characterized by modern design, cutting-edge technology, and premium amenities, attracting investors from around the world.
