Emaar Properties has announced an investment of AED1.5 billion (US$408 million) to expand Dubai Mall and enhance its offerings.
The expansion will introduce 240 new luxury retail stores and food and beverage outlets, further solidifying the mall’s position as a premier global shopping destination.
Dubai Mall currently spans 1.2 million sqm and houses more than 1200 outlets. Other offerings include over 200 dining options, the Dubai Aquarium and Underwater Zoo, an Olympic-sized ice rink, a 26-screen cinema, and the Zabeel Sports District.
Emaar has commenced on-site preparations for the expansion, but the completion date was not disclosed.
The property developer recently reported a 50 per cent increase in revenue to $2.8 billion for the first quarter.
Property sales during the period soared 42 per cent to $5.3 billion and net profit before tax increased 27 per cent to $1.5 billion.
Listed on the Dubai Financial Market, the company has a land bank of 1.67 billion sqft in the UAE and key markets across the Middle East, North Africa, and Asia.
