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Emaar Malls plans to increase footprint in Dubai

by Jumana Abdel-Razzaq on Feb 1, 2017


The Dubai Mall in Dubai, UAE.
The Dubai Mall in Dubai, UAE.

Emaar Malls plans to increase its footprint with new developments and expansion plans in the coming years, the company’s chairman has said.

Mohamed Alabbar, the chairman of Emaar Malls and Emaar Properties said that his company plans to expand its footprint with new malls under development at Dubai Hills Estate and Dubai Creek Harbour, one of which will be linked to the upcoming tallest building in the world, The Tower, according to The National.

Other community mall projects are being planned within existing developments, including a new Springs Village mall.

Alabbar said: "In today's digital age, we are focused on leveraging advanced technologies to ensure that our visitors have memorable experiences at our malls.

“We will continue to introduce new innovations, strengthened further with digital strategies to ensure that our malls stay ahead of the curve."

Emaar Malls reported that it saw a fourth-quarter net profit increase of 4% in the three months to December 2016.

Visitor numbers remained flat last year as net profit in the three months to 31 December rose to $123m (AED452m) from $118m (AED435m) a year earlier, Emaar Malls said.

The Dubai Mall visitor numbers remained flat at 80 million for the third year in a row, and occupancy levels were also unchanged at about 96% of its gross leasable area.

 



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