Emaar finalises plan to expand Dubai Mall

Reuters Middle East
Dubai Mall
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DUBAI, Nov 29 (Reuters) - Emaar Properties said

plans to expand its Dubai Mall with high-end fashion stores,

hotels and luxury homes had been finalised and work would begin


Emaar, which also built Burj Khalifa - the world's largest

tower, had said in February it would add one million square feet

to Dubai Mall, whose website says it is the world's largest

shopping and entertainment destination.

The part state-owned Dubai developer also said on Thursday

it will soon launch the sale of luxury homes and serviced

residences in the new development. No project value was given.

Dubai has been reviving real estate projects put on hold

after the 2008 financial crisis. The renewed building boom will

have financing constraints.

On Sunday, Dubai's ruler, Sheikh Mohammed bin Rashid

al-Maktoum, said Emaar and Dubai Holding were to

build a retail and tourism hub which will house an even bigger

shopping centre than Dubai Mall.

The emirate has also announced plans to build a new waterway

in the city and a $2.7 billion entertainment complex.

(Reporting by Praveen Menon; Editing by Dan Lalor)

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