Tuesday, May 19, 2009

AED 20 billion investment in The Dubai Mall drives retail growth and creates 10,000 new jobs in Dubai

Dubai, UAE; May 17, 2009: Emaar Malls Group and its retailer partners have together invested AED 20 billion to develop the world’s largest shopping mall and create 10,000 new jobs.

The Dubai Mall is the world’s largest shopping and entertainment destination covering 12 million square feet, equivalent to 200 football fields. And soaring visitor numbers are driving business, with mall retailers reporting a 33 per cent jump in sales from December to April, said Mr Mohamed Alabbar, Chairman, Emaar Properties, in an interview with Pan Arab television station Al Arabiya.

The Dubai Mall is also now the region’s single largest new employment generator, creating 10,000 jobs this year. Retailers have created an estimated 7,500 jobs and Emaar Malls Group has hired thousands more people to work in management, operations, sales, marketing, security, parking and other services.

Mr. Alabbar said: “The Dubai Mall is a catalyst for Dubai’s economy, driving the retail sector and employment. The formal opening of the mall on May 8, 2009, by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, attracted a record 160,000 visitors – over 10 per cent of the city’s population. With 750,000 visitors every week during the Festival@The Dubai Mall, the mall is on course to achieve annual visitor traffic of 37 million.”

“The Dubai Mall is one of the most significant investments in retailing in the world. It has introduced 165 new retail brands and concepts into the Middle East and unveiled flagship stores of international brands. The world famous department stores Galeries Lafayette and Bloomingdale’s are making their Middle East debut at the mall. This reflects the strength of Dubai’s retail sector and the appeal of The Dubai Mall to the global retail industry,” explained Mr. Alabbar.

According to recent research by CB Richard Ellis, Dubai is the fourth most-attractive city for international retailers next only to London, Paris and New York City. The study mapped the global footprint of 280 of the world’s top retailers across 67 countries. It revealed that 46 per cent of these global retailers are in Dubai compared to London (60 per cent), Paris (49 per cent) and New York (47 per cent).

With 1,200 retailers, The Dubai Mall has the largest collection of international brand names under one roof. If all the shop fronts were lined up, they would stretch 23 kilometres. More than 900 shops are already open, and the remaining 300 will open in the next three months. Visitors can also choose from an array of international cuisine at two food courts with a total seating capacity of 3,000. The mall also has over 14,000 car parking spaces.

Leisure attractions at the mall include The Dubai Aquarium & Underwater Zoo featuring over 33,000 aquatic animals including sharks and rays, and with the world’s largest acrylic viewing panel and a walk-through tunnel; the Olympic-sized Dubai Ice-Rink; and The Waterfall, an indoor spectacle that traverses the four floors of the mall. The daily shows at The Dubai Fountain are an added draw for visitors.

Located on the 30-acre Burj Dubai Lake, The Dubai Fountain is the world’s tallest performing fountain. Designed by California-based WET, the creators of the Fountains of Bellagio in Las Vegas, The Dubai Fountain is over 900 ft (275 metres) in length. It features powerful water nozzles which shoot water sprays to heights of over 500 ft (150 metres) – equivalent to that of a 50-storey building. Over 6,600 WET Superlights – the most advanced incandescent large fountain lights available today - and 25 colour projectors will create a visual spectrum of over 1,000 different water expressions that will appeal to visitors.

Other entertainment features opening in the next three months include KidZania®, an innovative children’s ‘edu-tainment’ concept that is being introduced to the region for the first time; SEGA Republic, a 76,000 sq-ft indoor theme park; and the 22-screen REEL Cinemas with a total capacity of 2,800 seats.

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