Emaar plans Dubai Hills mall project

23 August 2017

The mall will have a dedicated link to the Dubai Metro

Dubai developer Emaar Properties has announced the launch of Dubai Hills Mall, a retail district in the Dubai Hills Estate master development.

The mall will have a gross leasable area of more than 2 million square feet and more than 750 retail outlets, including a 65,000-square-foot hypermarket.

In a press statement, the developer said the mall, which will also have a dedicated link to the Dubai Metro, is expected to open in late 2019.

In June this year, MEED reported that Emaar plans to sell shares in its UAE real rstate development business, in what it said will be its biggest initial public offering (IPO) since listing its shopping malls subsidiary about three years ago.

Emaar will offer up to 30 per cent of its real estate development arm through a share sale on the Dubai Financial Market (DFM), Emaar said in a statement. The developer did not specify when it plans to offer shares to public, and whether financial and legal advisors on the transaction have already been appointed. The funds raised through the sale of equity will primarily be distributed as dividends to Emaar’s shareholders, the company said, adding that the deal is subject to market conditions.

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