Dubai-based developer Majid Al-Futtaim (MAF) plans to add 25,000 square metres of gross leasable area (GLA) to the Mall of the Emirates as part of phase two of a $1bn multistage redevelopment project for the mall.
MAF revealed details of the new expansion during a press conference on Monday for the unveiling of phase one of the project, which entailed construction of a new fashion district. Located on the East Wing of the first floor of the mall, the new district cost AED100m to build and comprises 5,000 square metres of GLA.
Phase two of the expansion, which is under way, will bring a further 25,000 square metres GLA to the mall through a renovation of the Central Galleria.The contractor is the local Khansaheb Civil Engineering.
The expansion will also entail moving the malls cinema complex to the newly renovated area. The number of screens on offer in the mall will be increased from 14 to 24, according to Daniel Hill, senior director, shopping malls development for Majid al-Futtaim.
By the first quarter of 2015, when phase two is expected to be complete, 25 per cent of the malls retail mix will be completely new, with many of the brands making their first appearance in the UAE.
The redevelopment of the mall will continue even after phase two is complete, Hill said. We envision adding new stores well into 2016, which will coincide with the 10th anniversary of the mall, he says.
MAF, which operates 16 malls across the Mena region, announced in December that it plans to invest $1bn a year over the next five years in retail and property projects. Later that month, the developer revealed its intention to develop a RO180m ($467.5m) shopping mall in Oman.
Mall of Oman, set to be Omans largest shopping destination, will include 350 stores and will be located in the Bauwsher District in Muscat. Anchor tenants will include Carrefour, Vox Cinemas and Magic Planet.
In 2013, the company started construction of its Mall of Egypt project in Cairo and opened its Beirut City Centre shopping mall in Lebanon.