Emaar's AED 1.5 Billion Dubai Mall Expansion: Transforming Your Shopping Experience

Yes! Your favorite mall is going to get even bigger! Emaar Properties has announced a major expansion of Dubai Mall worth AED 1.5 billion ($408 million). Inaugurated in 2008, it is among the world's largest shopping malls, currently housing over 1,200 shops and 200 international dining options. The idea is to attract more visitors to the retail and leisure hub and further boost the list of attractions. Here's what we know so far about the master developer's ambitious renovation plans. 

Details on $408 Million Dubai Mall Renovation

Emaar Properties has already started work on the $408m Dubai Mall expansion that will introduce 240 new luxury shops and food and beverage outlets to the iconic shopping center. Emaar has confirmed that contractors are already mobilizing on-site, though no completion date has been provided.

Mohamed Alabbar, the founder of Emaar, described the expansion as a "great addition to one of the most visited sites in the world." He thanked the mall’s loyal customers, government authorities, and other stakeholders for their unwavering support. Emaar’s CEO also emphasized,

“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.”

The new development is set to enhance the shopping experience at Dubai Mall significantly. In 2023, the retail center set a new attendance record by becoming the most visited place on Earth, attracting 105 million visitors—a 19% increase from the previous year.

Currently spanning 1.2 million square meters, Dubai Mall is an integral part of Downtown Dubai. It is the second-largest shopping mall globally by total land area. It offers a wide array of entertainment attractions, including the massive Dubai Aquarium and Underwater Zoo, a 24-screen cineplex, and an ice rink.

The community is also a hub of upcoming real estate developments. You can choose from various off-plan projects in Downtown Dubai, ranging from branded apartments to hotel residences. 

Emaar’s Impressive Revenue Surge

Emaar's recurring revenue from malls, hospitality, leisure, entertainment, and commercial leasing rose by more than 26% annually to AED 9.2 billion last year. This segment constituted over 34% of the company's total revenue. In February, Emaar also announced two luxury projects in Dubai valued at a combined Dh96 billion, highlighting the strong investor demand in the property market.

Also this year in February, Mohamed Alabbar announced a forthcoming mall in Dubai where you can drive through an electric car. This innovative mall will be situated in Dubai Creek Harbor and will feature a tower referred to as the "female Burj Khalifa".

Tourism and Retail Boom in Dubai

Dubai is heavily investing in its tourism sector. The city hosted 5.18 million international overnight visitors in the first quarter of 2024, compared to 4.67 million during the same period last year. The emirate recorded its best annual tourism performance in 2023, with international tourist arrivals increasing by 19.4% to 17.15 million. This figure surpassed the previous record of 16.73 million visitors in 2019.

According to the mall operator Majid Al Futtaim, retail spending across the UAE rose by 14% last year, driven by significant growth in fashion (31%), general retail (16%), leisure and entertainment (15%), and hypermarkets and supermarkets (3%).

We'll keep updating this post as more information becomes available regarding the Emaar Dubai Mall expansion, so stay tuned for the latest news!