|12-19-2014, 04:24 PM||#1|
Mall of the Emirates to expand at a cost of Dh1.5 billion
One of the biggest malls in the UAE, Mall of Emirates, plans to expand with an additional 250,000 square feet of gross leasable areas at a cost of Dh1.5 billion and to be completed around the third quarter of 2015.
“The entire mall will look a lot different by the time all the details are completed — but the DNA of this destination will still remain the same,” said Fuad Mansoor Sharaf, Senior Director for Property Management.
“We had the Fashion Dome opening in 2010 with 100,000 square feet of GLA, followed by the Fashion District in February this year, with 50,000 square feet," he added.
Not forgetting the Dubai Mall that received two years ago a record-smashing 54 million visitors in 2011, becoming until this day the most-visited shopping and leisure destination in the world.
This led to an increase in the Mall`s retail sales by 35% in 2011 compared with 2010. Dubai Mall is the world`s biggest and has about 1,200 outlets, from fashion wear, electronics, furnishing, jewelry and much more.
No wonder that according to TripAdvisor’s survey, the world`s biggest travel site, Dubai is considered recently the world`s top best destination for hotels and shopping.
To be more precise Dubai is the world`s top destination for shopping ahead of New York City and Paris, and for hotels ahead of Bangkok and Cancun in Mexico.
Such a success in the retail sector projects further mega projects of malls developments across the UAE across all emirates.
Dubai may be loosing its rank as a top expat destination as a result of the surge of prices but remains one of the biggest sightseeing spots of the world with almost a 10.6% increase per year in hotel guests.
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