Dubai: Lulu to build $272m mall in 30 months
The 21.3 ha retail development will be developed by Lulu Group at Dubai Silicon Oasis's premises, with construction expected to complete in time for Expo 2020
Lulu Group, a UAE-headquartered retailer with operations around the Middle East, recently laid the foundation for a $272m (AED1bn) mall in Dubai Silicon Oasis (DSO), due to be completed in time for Dubai Expo 2020.
HH Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Silicon Oasis Authority (DSOA), unveiled the commemorative plaque and laid the foundation stone for Silicon Mall, which is planned to span 21.3 ha (2.3 million sqf).
The ceremony was attended by Dr Mohammed Alzarooni, vice chairman and CEO of DSOA, and Yusuff Ali MA, chairman and managing director of Lulu Group International.
Lulu's Ali said work on the project would "be completed in a period of [...] 30 months".
He added: "Just in time for the launch of Dubai Expo 2020.
"Silicon Mall is our most ambitious project in the UAE to date, and we intend to make it the most interesting and exciting mall in Dubai."
The mall is designed to feature a "futuristic façade that is set to serve as its unique value proposition", it was revealed.
Corridors will be sky-lit to allow natural light-harvesting on all floors of the mall, which will also offer covered parking for up to 3,000 cars across two levels.
More than 300 international and local brands will be included as retailers in the mall, with 12 anchor stores – including a two-level Lulu Hypermarket and Department Store – also planned for development.
A 70,000 sqf Family Entertainment Centre area will be developed alongside more than 50 food and beverage outlets, Dubai Media Office reported.
Speaking at the event, Dr Alzarooni said: "We have tremendous respect for companies, small and large, that have been instrumental in fostering the momentous growth of Dubai and the UAE.
"We are proud to announce that Lulu Group has chosen to locate its upcoming mega mall within the premises of this hi-tech park.
"Construction of the mall, which is currently underway, will be completed by 2020, an important year when the nation expects to welcome approximately 25 million visitors hoping to enjoy the Dubai Expo 2020 and other unique national experiences and sights."