Emaar Properties, a United Arab Emirates real estate developer, has unveiled plans for the expansion of the Dubai Mall. The world’s second largest shopping mall, after the New South China Mall of China, AED 1.5 billion (€380 million) are being injected into the property in order to scale it up.
At the moment, the Dubai Mall spans over 1.2 million square metres. That space includes over 1,200 retail outlets, including anchor department stores, Galeries Lafayette and Bloomingdale’s, and 200 international dining experiences. Moreover, the mall has an aquarium and underwater zoo, an Olympic-sized ice skating rink, an indoor Chinatown, a virtual reality park, an indoor SEGA theme park and a 26-screen cinema, just to name a few of the experiences on offer.
On 4 June, however, Emaar Properties announced the plans for the expansion. The two largest shareholders of the real estate developer are Dubai ruler Mohammed bin Rashid Al Maktoum and the Investment Corporation of Dubai, a UAE sovereign wealth fund. The groundworks for the expansion have reportedly already started and the project should make room for another 240 luxury stores and several food and drinks outlets.
“The new Dubai Mall expansion is a great addition to one of the most visited sites in the world. We extend our gratitude to our esteemed guests and loyal customers, as well as our partners, retailers, and government authorities for their unwavering support. This expansion reflects Dubai’s ambitious vision to remain at the forefront of global innovation and culture, further solidifying our city’s position as a top global destination”, said Emaar Properties founder Mohamed Alabbar.
The announcement of the expansion doesn’t necessarily come as a surprise. Even though physical shopping experiences aren’t doing well globally speaking, retail spending in the United Arab Emirates went up by 14% in 2023, according to Majid Al Futtaim Group’s annual retail economy report. Dubai as a city welcomed a record-breaking 17.15 million overnight tourists in 2023 and the Dubai Mall alone received 105 million visits that same year.
