'Most visited place on earth': Emaar announces AED 1.5bn expansion for Dubai Mall

• Emaar Properties announces a Dh1.5 billion ($408 million) expansion plan for Dubai Mall.

• The expansion will introduce 240 new luxury retail and dining options.

• The contractor is already mobilizing on-site for the expansion project.

• In 2023, Dubai Mall set a new attendance record with 105 million visitors, a 19% increase from the previous year.

• Mohamed Alabbar highlights the expansion as a reflection of Dubai’s vision to remain at the forefront of global innovation and culture.

• Dubai's tourism industry saw 5.18 million international overnight visitors in Q1 2024.

• Dubai recorded its best annual tourism performance in 2023 with 17.15 million international tourist arrivals.

• Retail spending in the UAE rose 14% annually last year, driven by fashion and general retail.

• Dubai Mall currently houses over 1,200 shops, including two anchor department stores, and 200 dining options.

• Emaar's recurring revenue from malls, hospitality, and entertainment rose 26% annually to Dh9.2 billion last year.

Emaar Properties has announced a Dh1.5 billion ($408 million) expansion plan for Dubai Mall, set to introduce 240 new luxury retail stores and food and beverage outlets. This significant development comes as the contractor is already mobilizing on-site, marking the beginning of this ambitious project.

Dubai Mall, which became the most visited place on Earth in 2023 with 105 million visitors—a 19% increase from the previous year—continues to strengthen its position as a global retail and leisure icon. Mohamed Alabbar, founder of Emaar, emphasized that the expansion reflects Dubai’s ambitious vision to stay at the forefront of global innovation and culture, further solidifying the city's status as a top global destination.

The expansion plan is part of Dubai's broader strategy to boost its tourism industry. In the first quarter of 2024, Dubai hosted 5.18 million international overnight visitors, compared to 4.67 million in the same period last year. This growth follows a record-breaking performance in 2023, with 17.15 million international tourist arrivals, a 19.4% annual increase.

Retail spending across the UAE also saw a significant rise last year, growing 14% annually. Fashion led the surge with a 31% year-on-year increase, followed by general retail, leisure and entertainment, and hypermarkets and supermarkets. This robust retail environment further supports the expansion of Dubai Mall.

Inaugurated in 2008, Dubai Mall spans over 1.2 million square meters and is one of the world's largest shopping malls. It currently houses more than 1,200 shops, including anchor department stores Galeries Lafayette and Bloomingdale's, and 200 international dining options. Its diverse entertainment and leisure attractions include the 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% annually to Dh9.2 billion last year, constituting over 34% of the company’s total revenue. This expansion underscores Emaar's commitment to enhancing Dubai Mall's offerings and maintaining its appeal as a premier global destination.

As Dubai continues to invest in its tourism and retail sectors, the expansion of Dubai Mall represents a strategic move to attract more visitors and elevate the shopping and leisure experience. This project, along with other developments like the new passenger terminal at Al Maktoum International Airport, positions Dubai for continued growth and success in the coming years.