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.

Emaar creates 1,600 new jobs in shopping malls and hospitality businesses in Dubai

Dubai, UAE; May 11, 2009: Emaar Properties is creating over 1,600 new jobs in its shopping malls & retail and hospitality & leisure businesses. With the new addition, Emaar will have nearly 4,000 employees on its rolls in Dubai.

The new team-members, to be recruited in the next three months, will be trained for the launch of KidZania®, SEGA Republic and the 22-screen REEL Cinemas – three new leisure attractions in The Dubai Mall – and The Address, Dubai Mall and The Address, Dubai Marina hotels.

The recruitment highlights the job creation potential of Emaar’s diversified business interests, including shopping malls & retail and hospitality & leisure, and its key role in adding vitality to the Dubai economy. Skilled professionals are being hired locally, from several countries in the region and internationally for the new jobs.

Mr. Mohamed Alabbar, Chairman, Emaar Properties PJSC, said: “Our strategy for 2009 is to push for growth in existing subsidiary businesses while the core property business recovers from the global economic challenges. Emaar’s projects have traditionally created several thousand jobs in all markets including in hospitality, shopping malls and education businesses. The new hospitality & leisure attractions at The Dubai Mall and Dubai Marina Mall will further enable us to identify and nurture talented professionals, and in turn, support the Government’s commitment to strengthen market confidence.”

He added: “The unique concept of the leisure attractions and hospitality services at our malls and hotels demands that we have the right human resources for ensuring seamless operation. The current recruitment strategy, coming at a critical time for the global economy, marks our commitment to deliver a quality experience for visitors.”

The Dubai Mall, formally opened on May 8, 2009, by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President & Prime Minister and Ruler of Dubai, has already created a new dimension in retailing and family entertainment with overwhelming visitor response to The Dubai Fountain, The Dubai Aquarium & Underwater Zoo and The Dubai Ice Rink. The mall will soon add KidZania® and SEGA Republic, two totally new leisure concepts to the region, and the 22-screen REEL Cinemas.

KidZania® is an award-winning children’s ‘edu-tainment’ concept that will be introduced to the region for the first time at The Dubai Mall. It is an 80,000 sq ft interactive mini-city that combines play with learning in a fun and innovative approach. Children can choose from 70 ‘roles’ ranging from doctors, engineers, teachers, construction workers, artists and mechanics, among others.

SEGA Republic is a high-adrenaline ride, adventure and gaming zone spread over 76,000 sq ft across two levels. An indoor roller-coaster, thrilling rides and motion simulators, many of which are bespoke attractions for Dubai, are its highlights. It is being developed by Emaar Retail in partnership with SEGA Corporation, Japan’s leading indoor theme park developer.

The 22-screen REEL Cinemas will be the city’s largest cinema complex with a total capacity of 2,800 seats. The highlight of The Dubai Mall Cineplex is the introduction of the Hollywood Chic design concept, which assures a modern cinema experience.

The Address, Dubai Mall, the 5 star premium hotel to be operated by The Address Hotels + Resorts, the hotel management division of Emaar Hospitality Group, is nearing completion and will offer 245 signature rooms, 450 serviced apartments and modern lifestyle amenities. The Address, Dubai Marina, with 200 guestrooms and 442 serviced residences, is part of the Dubai Marina Mall complex, located centrally in the one of the most sought-after waterfront projects in the region.

The Address Hotels + Resorts already operates its flagship hotel – The Address, Downtown Burj Dubai – offering 196 guestrooms including 25 suites, and 626 serviced residences. The Palace – The Old Town, with 242 luxurious guestrooms including 81 suites, is another upmarket 5 star property managed by The Address Hotels + Resorts.

World Economic Forum highlights centrestage role of the Middle East in ‘Shaping the post-crisis world’

Dubai, UAE; February 2, 2009: The 39th Annual Meeting of the World Economic Forum in Davos-Klosters concluded its deliberations, today, highlighting the centrestage role that the Middle East region will play in ‘Shaping the Post-Crisis World.’

Nearly 100 government heads and business leaders from the Middle East region attended the five-day summit in Davos-Klosters, participating in panel discussions and generating healthy debates on topics as wide-ranging as Sovereign Wealth Fund management to sustainable development.

The deliberations and call for action taken up at Davos-Klosters will be further revisited at the World Economic Forum on the Middle East 2009 to be held from May 15 to 17 at the Dead Sea, Jordan under the theme ‘Home-grown Strategies for Global Success.’ The Middle East meet will focus on the role of the region in addressing critical global challenges ranging from systematic financial risk to resource management and political extremism.

Subsequently, government heads, business leaders and civil society leaders will meet in Dubai from November 20 to 22 for the 2009 Global Agenda Summit. Dubai is hosting the Global Agenda Summit for the second consecutive year. The event is essentially a closed door meet of 70 specialist councils of over 1,000 subject experts, who will brainstorm the major global challenges and provide recommendations to policy makers.

The Davos-Klosters meeting put forth several reports that serve as effective pointers for future policy-making. Attended by more than 2,500 participants from 96 countries including 41 heads of state or government and over 1,500 business leaders, the meeting’s primary focus was on the current financial crisis and the ways to stablise and relaunch the global economy. Global risks including climate change, food and water security, as well as peace and security in the Middle East were key topics of discussion.

In one of the landmark initiatives, the governments of Qatar, Singapore and Switzerland extended their patronage to the creation of the Global Cooperation Project, an unprecedented multi-stakeholder, multi-media dialogue to develop a 21st century vision of a wider global co-operation system.

“There is a serious deficit in global cooperation when compared to the wide range of pressing challenges such as climate change, energy security, food security, terrorism and proliferation of nuclear weapons. With new players emerging on the world stage and a continuing mismatch between 20th century institutions and 21st century challenges, the international system needs to intensify collaboration and develop innovative solutions,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

The report, ‘Green Investing: Towards a Clean Energy Infrastructure,’ presented at the meeting warns that unless at least US$515 billion per annum is invested in clean energy between now and 2030, carbon emissions will reach a level deemed unsustainable by scientists, causing temperatures to rise by two degrees globally.

Another stark warning was on water use with experts reiterating that “water is the nexus linking together a web of food, energy, climate, economic growth and human security.” A report released at the meeting states that many places in the world are on the verge of “water bankruptcy” following a series of regional water “bubbles” over the past 50 years that fuelled economic growth.

The meeting also highlighted the need to finish the long-stalled Doha Round of multilateral trade talks, with trade officials and academic experts, stating that it is “the single most valuable step global leaders can take to keep the current economic crisis from triggering a destructive protectionist backlash.”

Participants at the meeting will continue their discussions about the key issues on the global agenda in a new virtual network WELCOM (the World Economic Leaders Community), a social network exclusively reserved for the Partners and Members of the World Economic Forum.