Dubai, UAE, November 13, 2007: Emaar Malls Group (EMG), the shopping malls subsidiary of Emaar Properties PJSC, will debut at this year’s MAPIC retail real estate expo to be held from November 14 to 16 in Cannes, France. EMG will have a dedicated stand at the global event with a themed section showcasing its flagship project, The Dubai Mall.
EMG’s first-ever participation in the global expo is expected to encourage greater international retail investments in Dubai, and underscores the positioning of The Dubai Mall as one of the world’s largest lifestyle, shopping and entertainment destinations. EMG will be located in the new Penthouse Riviera, MAPIC’s exclusive hall with a total of 13 exhibitors including the prestigious French retailer, Galeries Lafayette which has already signed up to The Dubai Mall as one of the anchor department stores.
Mr Rashid Zakaria Doleh, Chief Executive Officer, Emaar Malls Group LLC said: “MAPIC is a showcase for the retail spectrum of the world, from developers to retailers and our participation will also enable us to identify new partnership opportunities with global retailers and developers for our projects in Dubai and around the world. By showcasing The Dubai Mall and our international project portfolio at MAPIC, Emaar Malls will position itself as the retail platform of choice for retailers that are expanding globally or entering this market for the first time.”
The Dubai Mall has a total site area of 12 million sq ft and is an integral part of Emaar’s flagship master-planned project, Downtown Burj Dubai. With a total internal floor area of 5.9 million sq ft, 3.77 million sq ft will be gross leasable area for more than 1,200 retail outlets and more than 150 food and beverage outlets. Hallmarked by several world-class attractions, The Dubai Mall is expecting some 30 million visitors in the first year of trade when it opens in late 2008.
Through visual aids, EMG will underscore the various components of The Dubai Mall at MAPIC including the world-class Aquarium with a 180-degree walkthrough tunnel; the world’s largest indoor Gold Souk; a 440,000 sq ft fashion precinct; the Olympic-size ice rink and the mall’s water features including one of the world’s largest musical water fountains. Images of Souk Al Bahar, Dubai Marina Mall and Cairo Gate, Egypt’s largest mall being developed by EMG, will complement the visual journey.
This year, MAPIC will inaugurate the new the Penthouse Riviera where EMG will be located, meeting the increased demand for retailers looking to be a part of this global event. More than 1,946 retailers, 672 investors and 899 exhibiting companies took part in the 2006 edition of the expo. It is expected that MAPIC 2007 will exceed these figures on all accounts.
Emaar’s diversification into shopping malls is in line with its Vision 2010 to become one of the most valuable companies in the world through a two-pronged approach of geographic expansion and business segmentation. Emaar has announced investments in shopping malls of over US$4 billion (AED 15 billion) to develop 150 malls in the larger emerging markets of the Middle East and North Africa region, the Indian Subcontinent and South Asia.
