Mall of the Emirates is the most productive in the Middle East
The Majid Al Futtaim Properties’ flagship mall in Dubai, UAE, the Mall of the Emirates, ranks as the region’s top shopping resort and has been ranked seventh by ICSC International Council of Shopping Centres as the mosts productive shopping centre in the world, earning USD 1423 per square foot annually
The Mall of the Emirates is nearly three times more profitable per square foot than the industry average, and its sales surpass those of some of the most internationally renowned shopping destinations in Los Angeles (USA), Toronto (CND) and Orlando, Florida (USA). The Mall of the Emirates is the world’s first shopping resort, currently it features more than 535 international brands with a total surface of 233467 m2, including department stores, fashion, lifestyle, sports, electronics and home furnishing outlets and the largest Carrefour location in the city of Dubai. The family leisure offer includes a Magic Planet family entertainment area, a 14-screen VOX Cinemas, the world-renowned Ski Dubai – the Middle East’s first indoor ski resort and snow park, the 500-seat capacity Dubai Community Theatre and Arts Centre and more than 95 international dining and cafe options. The mall houses over 80 of the world’s most famous designer brands in Fashion Dome and Via Rodeo, and has two adjoining hotels, the five stars Kempinski Mall of the Emirates and the four stars The Pullman Hotel, Mall of the Emirates. The Mall opened its doors in 2005. In the first half of 2012 it welcomed over 20 million visitors and it is earmarked to surpass 2011’s total of 36 million until the end of 2012.
According to Peter Walichnowski, CEO of Majid Al Futtaim Properties (the leader in ownership, development and management of shopping malls together with hotels and communities in the MENA region and is operating eleven world-class malls operating in the UAE, Bahrain, Oman and Egypt, under development are Cairo and Beirut) “the key to our continued success, is to provide the best access to the most sought-after brands and leisure concepts. We strive to not only remain relevant to consumers, but to exceed their expectations, which is what we call the art of proactive asset management. We are constantly investing in renovating our offerings, refreshing our retail mix and developing new entertainment concepts. This has not only contributed to our leadership of the market, both in the region and worldwide, but has also played a fundamental role in positioning Dubai as the second top retail hub in the world after London”.
ICSC annual survey maps the global retail centres and classifies the world’s 15 most lucrative malls and analysed factors contributing to their success. Mall of the Emirates represents the only mall in the Middle East to qualify among the world’s top 15 shopping malls. Population density, mass affluence and strong brand identities were identified as key sales drivers.