Bloomberg News

Emaar Says It Will Add Retail Strip and Hotel to Dubai Mall

November 29, 2012

Emaar Properties PJSC (EMAAR) said it will expand the Dubai Mall, the world’s biggest, by adding a shopping boulevard lined with restaurants and water attractions.

The extension will include luxury homes, serviced apartments and a hotel, the company said in an e-mailed statement today. Construction will begin soon and the work will be completed in phases, it said without specifying the number of homes.

Emaar’s $20 billion Downtown Dubai project is centered around Burj Khalifa, the world’s tallest tower. In February, the developer said it will add 1 million square feet (92,903 square meters) to the Dubai Mall as it capitalizes on retail and hospitality growth.

Emaar, the emirate’s biggest publicly traded developer, will cooperate with Dubai Holding LLC to build a new district in in the emirate that includes an even bigger mall. The project, known as MBR City, is designed to include gardens bigger than London’s Hyde Park, a theme park and art galleries. Another development announced this week will have five theme parks set to cost 10 billion dirhams ($2.7 billion).

To contact the reporter on this story: Zainab Fattah in Dubai on zfattah@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net.


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