{"id":92687,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/emaar-earmarks-aed-1-5-bn-for-dubai-mall-expansion\/"},"modified":"2024-06-04T00:00:00","modified_gmt":"2024-06-04T00:00:00","slug":"emaar-earmarks-aed-1-5-bn-for-dubai-mall-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/06\/04\/emaar-earmarks-aed-1-5-bn-for-dubai-mall-expansion\/","title":{"rendered":"Emaar earmarks AED 1.5 bn for Dubai Mall expansion"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emaar Properties will invest AED 1.5 bn to expand Dubai Mall,<\/strong> the developer said in a <a target=\"_blank\" href=\"https:\/\/properties.emaar.com\/en\/press-release-listing\/emaar-announces-aed-1-5-billion-expansion-of-dubai-mall\/\" style=\"\" rel=\"noopener\">press release<\/a>. The expansion will see Emaar add 240 new luxury retail stores and F&B outlets to the world\u2019s second largest mall. While the name of the contractor was not disclosed, construction on the expansion is expected to commence soon, according to the statement. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What was said:<\/strong> \u201cThe new Dubai Mall expansion is a great addition to one of the most visited sites in the world. This expansion reflects Dubai\u2019s ambitious vision to remain at the forefront of global innovation and culture, further solidifying our city\u2019s position as a top global destination,\u201d Emaar founder Mohamed Alabbar said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Dubai Mall: <\/strong>Spanning over 1.2 mn sq-m, Emaar\u2019s premium shopping center is the world\u2019s second largest shopping mall \u2014 trailing behind the New South China Mall \u2014 boasting over 1.2k stores. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI<\/strong>- Dubai Mall was the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/1df88b67-65ed-4f3c-8731-1db60befa91a\/efg-hermes-one-on-one,-day-three-%2B-sharjah-airport-expansion-plans-will-be-announced-today#:~:text=%232%2DDubai%20Mall%20was%20the%20most%20visited%20place%20in%20the%20world%20in%202023%3A%20Emaar%E2%80%99s%20premium%20shopping%20mall%20welcomed%20105%20mn%20visitors%20in%202023%2C%20marking%20a%2019%25%20increase%20from%20the%20previous%20year%27s%2088%20mn%20footfalls%2C%20the%20Dubai%20Media%20Office%20reports.\" style=\"\" rel=\"noopener\">most visited place in the world<\/a> in 2023, attracting 105 mn visitors, a 19% increase from the previous year's 88 mn.<\/p>\n<p class=\"tag-border-left\"> IN OTHER INVESTMENT NEWS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai-based real estate developer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.tabeer.ae\/\" style=\"\" rel=\"noopener\">Tabeer Development<\/a><\/strong><strong> is set to invest AED 1 bn in its <\/strong><strong>projects this year<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-06-03-1.4882935\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports. The developer is also set to deliver two projects this year: 48 Parkside in Arjan and 99 Park Place in Jumeirah Circle Village. It also just announced plans to complete a high-end development in Arjan \u2014 Parkside Boulevard \u2014 by 4Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Svarn Developments, founded by real estate veteran Ramesh Aswani, plans to invest <\/strong><strong>some USD 500 mn in the UAE\u2019s real estate market<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.albayan.ae\/economy\/uae\/2024-06-03-1.4882931\" style=\"\" rel=\"noopener\">Al Bayan<\/a> reports citing the real estate company\u2019s chairman Ramesh Aswani. The company is targeting key areas like Dubai South, Majan, and Dubai Marina. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Emaar will add 240 new retail and dining options in Dubai Mall<\/p>\n","protected":false},"author":1,"featured_media":92688,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[1268,1267,7,25,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-dubai-mall","tag-emaar-properties","tag-enterpriseam-uae","tag-investment-watch","tag-retail","wpautop","entry"],"acf":{"mongo_id":"5e1fe8a6-1635-420d-a03f-bd32f6b9d415","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/253.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emaar earmarks AED 1.5 bn for Dubai Mall expansion","related_issue":[92677],"teaser":"Emaar will add 240 new retail and dining options in Dubai Mall","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.7d4346fe-699d-4025-beda-96c07e2b95ad.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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