Emaar to expand Dubai Mall
High-street boulevard retail destination and luxury homes to be built
Dubai Mall will undergo a major expansion, Emaar has said.
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Emaar Properties, Dubai’s largest property developer, will commence the expansion of Dubai Mall in Downtown Dubai, it was announced on Thursday.
The expansion will include the construction of a new high-street boulevard style retail destination, as well as new luxury homes and serviced residences in the district.
“With the master-plan of the new expansion now finalised, work will begin shortly, with the various components to be completed in phases,” the developer said in a statement.
The announcement comes in the wake of Dubai announcing the commencement of Mohammed Bin Rashid City, a mega-project that will be home to the world’s largest shopping mall. A $2.72bn theme park project will also be built in Jebel Ali.
“Dubai is looking to strengthen its position as a tourism hub in the region, as well as establishing itself as a global destination that can compete with markets in the US and some of the major markets in Europe, such as Paris and London,” explained Mat Green, head of Research and Consulting UAE, CBRE Middle East, to BPME.
“At the moment, Dubai has beaches and quality hotels, but it doesn’t really have the same entertainment drivers, such as Disneyland or Universal Studios that you find in the US. I think that is obviously a key component of this project and Dubai is really just looking to cement its position,” he added.
