UAE. The Mall of the Emirates, the largest shopping complex outside North America, will create a new tourism icon in Dubai when it opens in September 2005.
Plans have revealed the retail and entertainment centre – being developed by Majid Al Futtaim (MAF) Investments (the developer of Dubai’s famous Deira City Center) – will house the biggest indoor ski resort in the world along with a sprawling five star hotel, restaurants, a 14-screen multiplex cinema and other services.
Mall of the Emirates will also house the largest single-level Carrefour hypermarket in the Middle East, two major department stores, VIP facilities and numerous food & beverage outlets and other retail brands.
According to reports, construction on the project, earlier known as Souk Al Nakheel and also half the size of the present reinvented form, is set to begin this month.
Majid Al Futtaim (MAF) Investments ceo Peter Walichnowski said in a statement that the total investment requirement of AED3 billion (US$820 million) will be generated from internal group resources.
“We are delighted to be able to announce that we are beginning the construction on one of the most ambitious retail and leisure projects anywhere in the world,” said Walichnowski, who previously led the development of Bluewater in the UK – Europe’s largest and most successful shopping centre.
“Mall of the Emirates is of such grand scale, and offers such a unique experience, that Middle East and international residents will now choose Dubai instead of traditional destinations, such as Europe and America, for their shopping and leisure needs,” said Walichnowski.
An independent study has already projected some 30 million visitors every year to the mall, which will have over 350 shops and more than 2.4 million sq ft (223,048 sq m) of prime retail and leisure space. Over one million sq ft (92,937 sq m) has been already leased to group companies and others. Landmark Group and Broadway Trading have secured between them 300,000sq ft (27,881sq m) which will house more than 20 international retail brands.
The Majid Al-Futtaim (MAF) Group is one of the Gulf’s largest and most-respected retailers and real estate developers. The company recently created the Egyptian subsidiary MAF MISR to build the first Carrefour hypermarket in Egypt, which opened earlier this year, its first investment outside the Gulf.
