UAE property giants launch mega retail district at Dubai Creek
Emaar Properties and Dubai Holding have launched a mega-retail district at the heart of Dubai Creek Harbour
Emaar Properties and Dubai Holding have announced the launch of Dubai Square, a high-end retail district located at the heart of Dubai Creek Harbour.
Integrating online and in-mall shopping experiences, the development will combine retail, hospitality, and residential components across 2.6-million square metre of space, it was revealed during an exclusive event on Tuesday.
The project is expected to cost $2.7bn (AED10bn), according to Mohammad Alabbar, chairman and CEO of Emaar Properties, while speaking to members of the press.
Dubai Square will introduce ‘omnichannel retailing’, which will allow customers to shop predominantly via mobiles or at a retail store, all while creating a technologically immersive experience.
The square will also be linked directly to the Dubai Creek Tower through an underground extension that will lead to a clock-shaped plaza at its base.
While the plaza is set to be the length of ten Olympic sized swimming pools, the overall development will be equivalent to the size of more than 100 football pitches - with over 750,000 square metres (8.07 million sq ft) of gross floor retail space.
Dubai Square will also have nearly more than twice the gross leasable area of The Dubai Mall, one of the largest in the world.
In addition, the masterplan will incorporate an entertainment arena with 3-D projection mapping, theatrical sound and lighting, high wire rigging and other cutting-edge attributes.
The Art District, another feature of the mega project, will be driven by Art Emaar, an initiative launched recently to bring new aesthetic experiences to Emaar’s master-planned developments.
The Art District will engage visitors through various arts and culture initiatives, underpinned by the showcases of works by eminent artists such as Janet Echelman, Mark Quinn, and Emmanuel Moreaux, among others.
With Dubai’s retail sales expected to reach more than $43.8bn (AED160bn) by 2021, the district will play a vital role in supporting the estimated 20 million tourists expected to visit the city by 2020.
HE Abdulla Al Habbai, chairman of Dubai Holding, said: “Dubai is experiencing tremendous tourist inflow and continues to rank highly as a holiday destination for people from many different parts of the world.
“Dubai Square is our new retail and leisure destination, and with this we aim to actually redefine the shopping experience by introducing a variety of innovative concepts. This is our latest endeavour to bring the best to Dubai, as part of Dubai Holding’s promise, ‘for the good of tomorrow’.”
Last week, Emaar Properties announced plans to build the Middle East's biggest Chinatown, also located at the Dubai Creek Harbour. The project aims to boost investment and lure Chinese tourists to the emirate.
The retail precinct will have mix of restaurants, local and international fashion brands designed to appeal to Chinese tourists.