Dubai Mall will see a massive expansion by Emaar Properties, adding 240 new upscale retailers and food and beverage establishments. The contractor is currently mobilizing on-site, and this project entails a Dhs 1.5 billion investment.
Mohamed Alabbar said, “The new Dubai Mall expansion is a great addition to one of the most visited sites in the world,” when he announced the remarkable improvement. We also thank our partners, retailers, government authorities, honored guests, and devoted patrons for their unwavering support. This growth demonstrates Dubai’s aspirational goal to maintain its leadership in innovation and culture worldwide, further enhancing its standing as a top travel destination.
The trend will continue in 2024, as Dubai Mall is a world-famous destination for shopping and entertainment, providing cutting-edge experiences while upholding high patron ratings.
The financial results for Emaar Properties‘ first quarter of 2024 were recently made public, and they show steady, resilient performance and effective operations throughout all of its businesses. With quarterly group property sales of Dhs13.5 billion (US$ 3.7 billion), Emaar recorded its highest-ever quarterly sales in Q1 2024, up 47% from Q1 2023.
Compared to the same period last year, Emaar’s revenues increased by 16 percent to Dhs6.7 billion (US$1.8 billion) and its net profit before tax to Dhs4.3 billion (US$1.2 billion).
