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Emaar Properties will invest AED 1.5 bn to expand Dubai Mall, the developer said in a press release. The expansion will see Emaar add 240 new luxury retail stores and F&B outlets to the world’s second largest mall. While the name of the contractor was not disclosed, construction on the expansion is expected to commence soon, according to the statement.
What was said: “The new Dubai Mall expansion is a great addition to one of the most visited sites in the world. This expansion reflects Dubai’s ambitious vision to remain at the forefront of global innovation and culture, further solidifying our city’s position as a top global destination,” Emaar founder Mohamed Alabbar said.
About Dubai Mall: Spanning over 1.2 mn sq-m, Emaar’s premium shopping center is the world’s second largest shopping mall — trailing behind the New South China Mall — boasting over 1.2k stores.
ICYMI– Dubai Mall was the most visited place in the world in 2023, attracting 105 mn visitors, a 19% increase from the previous year’s 88 mn.
IN OTHER INVESTMENT NEWS-
Dubai-based real estate developer Tabeer Development is set to invest AED 1 bn in its projects this year, Al Bayan reports. The developer is also set to deliver two projects this year: 48 Parkside in Arjan and 99 Park Place in Jumeirah Circle Village. It also just announced plans to complete a high-end development in Arjan — Parkside Boulevard — by 4Q 2026.
Svarn Developments, founded by real estate veteran Ramesh Aswani, plans to invest some USD 500 mn in the UAE’s real estate market, Al Bayan reports citing the real estate company’s chairman Ramesh Aswani. The company is targeting key areas like Dubai South, Majan, and Dubai Marina.
