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Economics & Development | Global Arab Network
UAE: Dubai develops world’s largest mall with cost of $ 3 billion
Global Arab Network - - Mohammed Almasri
Monday, 26 November 2012 01:53
Dubai: The world’s largest mall to be built in Dubai could cost approximately $3 billion, according to some analyst estimates, Global Arab Network reports according to local news sources.

The Mall of the World, part of the planned Mohammad Bin Rashid City, may cost an estimated Dh10 billion ($3 billion), said Shane Eldstrom, director of education at the Middle East Council of Shopping Centres.

The announcement of the mega-project on Saturday did not include details of cost or timeline.

The mall is expected to attract a mix of international retail brands from China, India and the Far East as well as interest from UK and Europe and food and beverage outlets from the US, according to Craig Plumb, the head of research with Jones Lang Lasalle.

The mall is planned for the long-term when online shopping is catching up in the region.

Retailers will continue to follow their current strategy of running a physical store where shoppers can “touch and feel” products but have the option to buy them online when they go home, Plumb said. (gulfnews)

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