United Arab Emirates real estate developer Emaar Properties announced plans for a 1.5-billion-dirham ($408 million) expansion of Dubai Mall. The 12-million-square-foot mall is already the largest shopping center in the world by total area, and the expansion will add a further 240 luxury stores, along with new food outlets.
Adjacent to the record-setting Dubai Fountain and the world’s tallest building, the Burj Khalifa, the expansive shopping center already houses the world’s largest mall aquarium, an immersive digital art museum, a complete 155-million-year-old dinosaur skeleton, an Olympic-sized ice rink and a 26-screen cinema.
Emaar Properties founder Mohamed Alabbar described the expansion as “a great addition to one of the most visited sites in the world.”
While brick-and-mortar retail in many places around the world is in decline, retail spending in the United Arab Emirates rose 14% last year, predominantly driven by fashion (up 31% year-on-year), general retail (up 16%), and leisure and entertainment (up 15%), according to Majid Al Futtaim Group’s annual retail economy report.
