Emaar announced an expansion of the iconic Dubai Mall, allocated AED 1.5 Billion. The extension will include 240 brand-new retail and dining outlets. The expansion reflects the commitment and dedication of Emaar for innovation and excellence.
This blog delves into the Dubai Mall expansion details and its impact on Dubai’s retail sector.
Dubai Mall Expansion Vision:
It is an iconic and most visited mall in the World. The Mall has experienced numerous expansions since its inauguration in 2008. New sections and outlets were added to attract vast numbers of visitors each year. In 2024, Dubai Mall’s expansion by Emaar will focus on several strategic factors. These include meeting the rising demand, enhancing the customer experience, and strengthening Dubai’s position in global tourism and hospitality.
Founder's Statement:
In announcing the remarkable enhancement, Mohamed Alabbar announced a remarkable enhancement. He stated that the new Dubai Mall extension is a wonderful addition. The extension enhances one of the most visited destinations in the world. We thank our dear guests and faithful clients, partners, shopkeepers, and government officials for their continuous support. This development reflects Dubai’s bold plan. The city aims to stay at the forefront of international innovations. It also seeks to embrace diverse cultures. As a result, Dubai continues to grow as a leading global destination.
About Dubai Mall:
Dubai Mall was constructed by Emaar Properties in 2008, it is the largest in Dubai and second largest in the World, spanning over 1.2 Million Square meters. Dubai Mall has over 1,200 retail outlets. It includes two major department stores, Galeries Lafayette and Bloomingdale’s. There are also more than 2,000 international dining outlets.
The mall offers a wide range of entertainment and attractions. These include the Dubai Aquarium and Underwater Zoo, Reel Cinema, KidZania Dubai, and Play DXB. Visitors can also enjoy the Dubai Ice Rink, Ekart, and the Zabeel Sports District. Dubai Mall is the most visited designation in the World attracting over 54 million visitors every year.
Dubai Mall's Achievements:
- Dubai’s Largest Shopping Mall
- Second Largest Mall in the World by total land area
- 20th-largest mall by Gross Leasable Area (GLA)
- World’s Largest Aquarium – Dubai Aquarium and Underwater Zoo
- World’s Largest OLED Screen – Reel Cinema
- Best Shopping Experience in 2010 – Grazia Style Awards
- Most Visited Shopping and Leisure Destination
About Emaar Malls Management:
Emaar Malls Management (LLC) manages the most iconic shopping complexes, entertainment, and integrated retail centers in the Middle East, including its flagship asset Dubai Mall which is the most visited mall in the world, and Dubai Hills which serves as the leading lifestyle destination on Dubai Hills Estate.
Moreover, this company oversees other such malls like Arabian Ranches, Springs Souk, and Meadows Village Meadows Souk among others. Emaar Malls also administers Souk Al Bahar an Arabesque style dining and entertainment complex situated in Downtown Dubai; Dubai Marina Mall serves both residents and visitors to Dubai Marina as their lifestyle shopping mall alongside Gold & Diamond Park dedicated solely to gold jewelry stores.
Impact on Dubai's Retail Sector:
The AED 1.5 Billion Emaar Properties Dubai Mall Investment 2024 is more than just an expansion, it is a strategy to enhance the retail sector of Dubai. Here are the impact of its expansion on Dubai’s retail sector:
- Enhance Retail Sale: An increase in retail sales is expected from this expansion. This growth will not be limited to Dubai Mall but will spread across the city. As more visitors stream into the expanded mall, shopping experiences will increase. This influx of traffic will benefit nearby stores, further boosting Dubai’s overall performance as a retail destination.
- Global brands Attraction: Expansion will create more room for global brands seeking to establish or expand in the Middle East. The influx of global retailers will enhance the variety of products and services available to consumers thereby consolidating further Dubai’s position as a premier shopping destination.
- Employment Opportunities: Such large-scale expansions often end up leading to the creation of numerous employment opportunities during their construction and after completion. It ranges across different sectors namely; construction, retail, hospitality, and services.
- Local Business Support: Additionally, the expansion could lead to more opportunities for local businesses and entrepreneurs in the area. The introduction of new retail and dining facilities could mean room for local companies, new ventures, and creative artists to thrive within Dubai’s market.
Conclusion
Emaar Properties has made a significant investment of AED 1.5 billion. This investment is for the expansion of Dubai Mall. It highlights the company’s strong dedication to luxury and innovation. The move is proof of Emaar’s unparalleled commitment to growth. As Dubai is becoming the premier in commerce, tourism, and retail sectors, Dubai Mall is leading this transformation.