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MALL OF THE WORLD

MALL OF THE WORLD

1 September 2014

The world’s most ambitious retail and entertainment project will take shape in Dubai over the next ten years and is said to revolutionise the traditional concept of the shopping mall.

When hearing about a new mall to appear in Dubai, one might be forgiven for questioning the fact of whether the city really needs another mall, and how that mall can be special given the fact that Dubai is already home to some of the world’s most spectacular shopping destinations.

However, Mall of the World, as promised by its developer Dubai Holding, is going to break the traditional concept of a shopping mall we used to see in the region.

Upon completion, Mall of the World will include not only the world’s largest mall, but also the biggest indoor park, cultural theatres and wellness resorts. Dubai Holding expects the Mall to become a year-round destination with the capacity to host up to over 180 million visitors annually.

The project will create a unique concept of a covered temperature-controlled city offering a wide range of leisure, retail, cultural, wellness, recreation and hospitality options under one roof. It will also provide Dubai with a town centre concept, with the largest retail street network at ground level different to the typical model of a shopping mall.

“Dubai has established its position as a global tourist destination, and Mall of the World aims to cater to the 20 million tourists expected to visit Dubai in the coming eight years, as outlined by Dubai’s Tourism Vision 2020,” commented Dubai Holding.

A CITY INSIDE THE CITY

For those fond of shopping and world-class entertainment, Mall of the World might become a favourite place to visit.

Besides of an extended network of 1,500 retail outlets covering eight million square feet across the development through interconnected streets, the project will encompass a hospitality district, a family wellness district, a cultural celebration district and an indoor theme park.

The hospitality offering will include 100 hotels and serviced apartment buildings, comprising 20,000 rooms and 7,500 hotel apartments, according to Dubai Holding. The family wellness district will aim to provide wellness- & medical tourists and their families from across the world with a holistic experience ensuring access to quality healthcare, wellness facilities and high-end hospitality options, backed by an extensive network of leisure and retail outlets.

The cultural celebration district will provide a host of venues dedicated to the multinational social fabric of Dubai and its visitors. The Dubai Celebration Plaza will host events of national importance; the International Theatre District will host global entertainment festivities, concerts and shows such as Bollywood shows, Chinese theatre, Russian ballet, and Broadway performances amongst others. The Celebration Walk, similar to the Ramblas Street in Barcelona, will connect the cultural district to the rest of the mall. The district will also host a convention centre, wedding and celebration hall and a film school.

UNIQUE BY DESIGN

“The design of the Mall of the World is unique in every way and combines elements from different successful shopping and leisure landmarks around the world into one city within a city. It is projected to become a year-round destination through a pleasant temperature-controlled environment during the summer months,” said Dubai Holding.

Occupying a total area of 48 million square feet, Mall of the World will comprise the largest indoor theme park in the world, which will be covered by a glass dome that will be open during the winter months. The project will also house the largest shopping mall in the world, which will take the form of an extended temperature-controlled 7-km covered retail street network; tourists will be able to enjoy a week-long stay without the need to leave the city or to use a car.

10 YEARS AHEAD

Mall of the World is a massive project that will be developed over phases based on market demand. The first phase of the development will be located on Sheikh Zayed Road.

“We are currently appointing consultants specialising in a range of expertise that complement our own and to advise us on this project. This will take around six months and then we will be at a better position to announce start and completion dates. Once we start construction, we expect the first phase to be completed after three years of breaking ground. Our plan is currently to complete the project within ten years of starting construction,” Dubai Holding explained.

Mall of the World will cost around AED25 billion [approx. US$6.8 billion], or approximately AED2.5 billion every year for the next 10 years. Considering the project’s unique offering, prime location, attractive facilities and projected role in elevating Dubai’s tourism sector, Dubai Holding believe that they are well positioned to move forward with this project and find the right types of funding options to develop it.

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