Dubai's Mall of the World project gaining steam


By Mustafa Al Zarooni /Dubai

Dubai Holding on Tuesday said that many investors have shown interest in the multi-billion-dollar Mall of the World project, which will offer a wide range of leisure, retail, cultural, residential, commercial and hospitality options in the heart of Dubai.

2The mixed-use development, which costs approximately Dh25 billion over 10 to 15 years, will span a land area of 1.7 million sqm in the centre of Dubai and will be built in two phases.

“Mall of the World is a complex, long-term and strategic project that is set to play a significant role in positioning Dubai as a global hub for tourism, in line with our leadership’s plans including Dubai Tourism Vision 2020,” Ahmad bin Byat, vice-chairman and managing director of Dubai Holding, said at a media briefing.

Mall of the World officials said many international companies are ready to join hands with Dubai Holding to invest in the mega development, but no contract has been signed so far. “The final plan for the project development will be ready by the end of next year,” according to the management of the Mall of the World. More info