Dubai Mall، owned by Emaar Properties،one of the world’s largest، plans$400million expansion
Emaar Properties the Dubai mall ’s developer، this week announced that the Mall in Dubai، United Arab Emirates، one of the largest shopping complex malls in the world with 1200 stores and 200 food and beverage outlets، is set to get even bigger with a planned expansion that will cost an estimated 1.5 billion dirhams ($408 million) to add 240 new luxury stores and food and drink venues.
Emaar Properties stated that Dubai mall، the sprawling shopping complex، is already home to 1،200 stores and 200 food and beverage outlets، a 10-million-liter aquarium، an Olympic-sized ice skating rink، an indoor Chinatown، a virtual reality park، an indoor SEGA theme park، and one of the world’s largest candy stores.
Emaar Properties the Dubai mall ’s developer: Dubai mall is spanning 12 million square feet
Emaar Properties the Dubai mall ’s developer، indicated that the mall is spanning 12 million square feet of floor space and is also connected to the Burj Khalifa، the world’s tallest skyscraper، and announced the building’s expansion plan، which will add 240 new luxury stores and food and drink venues.
Mohamed Alabbar، Emaar Properties founder، sees that the new Dubai Mall expansion is a great addition to one of the most visited sites in the world and declared that the plan reflects Dubai’s ambition to further its position “as a top global destination.”
Dubai’s fortunes have soared since the Covid-19 pandemic
Emaar Properties explained that Dubai mall، the sprawling shopping complex، has become one of the largest shopping complex malls in the world as Dubai’s fortunes have soared since the Covid-19 pandemic، while the city carried out an early vaccination campaign and then opened its doors to tourism and business، bt much of the rest of the world stayed shut.
Emaar Properties has flourished with Dubai mall as the UAE government introduced remote worker visas and 10-year “golden” visas and relaxed foreign ownership laws for businesses، hosting major international events like Expo 2020 and COP 28.
UAE tourism and property revenues jumped after Russia’s 2022 invasion of Ukraine
UAE population jumped، as well as its tourism and property revenues، after Russia’s 2022 full-fledged invasion of Ukraine، which triggered an inflow of Russians to its balmy، sanctions-free shores in the Gulf area such as Dubai mall owned by Emaar Properties.
The record-breaking Dubai Mall is also home to the world's largest shopping mall aquarium، where visitors can cage snorkel and dive with sharks، explained Emaar Properties the Dubai mall ’s developer and by September of 2023، Dubai had registered a stunning 63% jump in residency visas issued in the first half of that year compared to the same period a year prior and at that year، Dubai Mall received a record 105 million visitors، a 19% increase from 2022.
Dubai Mall waterfall has %42 of water from energy intensive desalination plants
The Dubai Mall waterfall in the UAE، where %42 of water is sourced from energy-intensive desalination plants، the UAE faces the challenge of meeting one of the world's highest water consumption rates، an average of 500 liters per person daily، %50 above the global average and in response، the UAE is investing in reverse osmosis technology to cater to surging demands for purified water.
Emaar Properties is a Dubai-based multinational real estate developer whose two largest shareholders are Dubai ruler Mohammed bin Rashid Al Maktoum and the Investment Corporation of Dubai، a UAE sovereign wealth fund and the company had a net asset value of $37.6 billion at the end of 2022، while in February، the Emaar founder announced plans for a new mall، in addition to Dubai mall، in Dubai’s Creek Harbor area that would allow visitors to drive through it in electric cars.
