Yahoo Finance The world’s largest shopping mall is about to get even bigger
Editor’s Note: This CNN series is, or was, sponsored by the country it highlights. CNN retains full editorial control over subject matter, reporting and frequency of the articles and videos within the sponsorship, in compliance with our policy.
United Arab Emirates real estate developer Emaar Properties announced Monday plans for a 1.5 billion dirham ($408 million) expansion of Dubai Mall.
The 12-million-square-foot mall is already the largest shopping center in the world by total area, and the expansion will add a further 240 luxury stores, along with new food outlets.
Adjacent to the record-setting Dubai Fountain and the world’s tallest building, the Burj Khalifa, the expansive shopping center already houses the world’s largest mall aquarium, an immersive digital art museum, a complete 155-million-year-old dinosaur skeleton, an Olympic-sized ice rink and a 26-screen cinema.
In a press release, Emaar Properties founder Mohamed Alabbar described the expansion as “a great addition to one of the most visited sites in the world.”
Last year, Dubai welcomed a record number of tourists, and the mall says it received 105 million visitors last year, up 19% from 2022. The planned expansions will accommodate the expected increase in footfall as the city invests in its tourist economy.
While brick-and-mortar retail in many places around the world is in decline, retail spending in the United Arab Emirates rose 14% last year, predominantly driven by fashion (up 31% year-on-year), general retail (up 16%), and leisure and entertainment (up 15%), according to Majid Al Futtaim Group’s annual retail economy report. Government initiatives including the Dubai Shopping Festival — launched in 1996 — have given the emirate a reputation for offering a premium shopping experience across dozens of malls.
Emaar has not disclosed when work is expected to begin.
For more CNN news and newsletters create an account at CNN.com
