The mega-project that will include 100 hotels, wellness, cultural and theatre districts is the world's first temperature-controlled city capable of receiving 180 million visitors a year.
The shopping and retail industries of the U.A.E. are set to be 20 years ahead of the region with Dubai's launch of the Mall of the World in the run-up to Expo 2020, the CEO of a leading general trading company based in the U.A.E. says.
Midhat M. Abu Ghazaleh, chief executive officer of Abughazaleh Trading Company, a major wholesale distributor and manufacturer, said: "Dubai was 10 years ahead of other regional markets as far as shopping and retail are concerned. In 1996, the emirate set itself apart from the region with the launch of the Dubai Shopping Festival, which created a dramatic upswing in the U.A.E. retail sector. Now, with the announcement of Mall of the World, the scale and magnitude have been expanded, which will surely take Dubai 20 years ahead of the regional market.”
He added: "This new mega-project that will include 100 hotels, wellness, cultural and theatre districts is the world's first temperature-controlled city capable of receiving 180 million visitors a year. This speaks volumes for the vision of Dubai and no risk management expert will advise international retail brands against setting up presence in the emirate as Dubai government is investing heavily to take the shopping and retail sector to a totally new level.”
The emirate's investment drive into the shopping industry has been relentless since Al Ghurair Centre was launched in Deira many years ago, to be followed by bigger and better world-class malls over the years.
He added: "With the current portfolio of malls and brands setting up presence here, Dubai was always ahead of the market. Now it has even moved up further and set a higher benchmark for others in the region.”
Source: Khaleej Times