Emaar Properties has announced the Dh1.5 billion ($408 million) expansion of Dubai Mall as it seeks to attract more visitors and grow the venue's offerings.
The plan will include 240 new luxury shops and food and beverage outlets, and the contractor is already mobilising on-site, Emaar said on Monday. It did not give an estimated completion date.
Dubai Mall, which had 105 million visitors last year, up 19 per cent annually, is a popular destination for tourists and shoppers.
The development is a “great addition to one of the most visited sites in the world”, Mohamed Alabbar, founder of Emaar, said.
“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.”
Dubai is investing heavily in boosting its tourism industry.
The city hosted 5.18 million international overnight visitors in the first quarter of 2024, compared with 4.67 million tourist arrivals during the same period last year, according to official data.
The emirate recorded its best annual tourism performance last year, with international tourist arrivals to the emirate increasing by 19.4 per cent annually to 17.15 million, amid the continued expansion of its economy.
Last year’s figure exceeded the previous record of 16.73 million visitors registered in 2019, according to the latest data published by Dubai’s Department of Economy and Tourism.
Dubai is also building a new passenger terminal at Al Maktoum International, the emirate's second airport also known as Dubai World Central, as its main hub, Dubai International, inches closer to full capacity.
Meanwhile, retail spending across the UAE rose 14 per cent annually last year, driven by fashion (which grew by 31 per cent year on year), general retail (up 16 per cent), leisure and entertainment (15 per cent) and hypermarkets and supermarkets (3 per cent), mall operator Majid Al Futtaim said in a report in April.
Inaugurated in 2008, Dubai Mall is spread over 1.2 million square metres and is among the world's largest shopping malls.
Currently, it houses more than 1,200 shops, including two anchor department stores, Galeries Lafayette and Bloomingdale's, along with 200 international dining options.
Some of its entertainment and leisure attractions include Dubai Aquarium and Underwater Zoo, Reel Cinema’s 24-screen cineplex, KidZania Dubai, Play DXB, Dubai Ice Rink, Ekart and Zabeel Sports District.
Emaar's recurring revenue from malls, hospitality, leisure, entertainment, and commercial leasing rose more than 26 per cent annually to Dh9.2 billion last year, the company said in February.
Revenue from this portfolio constituted over 34 per cent of the company’s total revenue last year.
In February, Emaar also announced two luxury projects in the emirate valued at a combined Dh96 billion as the property market continues to grow amid strong investor demand.
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
The five pillars of Islam
Stuck in a job without a pay rise? Here's what to do
Chris Greaves, the managing director of Hays Gulf Region, says those without a pay rise for an extended period must start asking questions – both of themselves and their employer.
“First, are they happy with that or do they want more?” he says. “Job-seeking is a time-consuming, frustrating and long-winded affair so are they prepared to put themselves through that rigmarole? Before they consider that, they must ask their employer what is happening.”
Most employees bring up pay rise queries at their annual performance appraisal and find out what the company has in store for them from a career perspective.
Those with no formal appraisal system, Mr Greaves says, should ask HR or their line manager for an assessment.
“You want to find out how they value your contribution and where your job could go,” he says. “You’ve got to be brave enough to ask some questions and if you don’t like the answers then you have to develop a strategy or change jobs if you are prepared to go through the job-seeking process.”
For those that do reach the salary negotiation with their current employer, Mr Greaves says there is no point in asking for less than 5 per cent.
“However, this can only really have any chance of success if you can identify where you add value to the business (preferably you can put a monetary value on it), or you can point to a sustained contribution above the call of duty or to other achievements you think your employer will value.”
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5. Zakat
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