Dubai’s Dh25 billion Mall of the World development on the move again
Dubai Holding has said that it was relocating its Dh25 billion Mall of the World project to a site fronting Sheikh Mohammed bin Zayed Road.
In a statement, Dubai Holding said that the decision to move the site was taken so that it can be based in an area where its “positive tourism contribution can be fully realised”.
Ahmad bin Byat, the vice chairman and managing director of Dubai Holding, said: “Tourism remains a major part of Dubai’s diversification strategy and Mall of the World will be a critical part of that vision.
“Dubai Holding is committed to developing Mall of the World, a major retail and leisure destination in the region, and believes that the new location on Sheikh Mohammed bin Zayed Road will be an outstanding home for the project, as it will allow Dubai Holding to further expand as needed in the future, according to market needs.”
The announcement represents the third change in venue for the proposed mega-development. When the project was initially announced in 2012, it was earmarked for a site in Mohammed bin Rashid City. In July 2014, a new 48 million square feet property fronting Sheikh Zayed Road was proposed in the Al Sufouh district on land opposite Mall of the Emirates. Part of this site houses the existing Dubai Police College, which was planned for relocation. At the relaunch, Dubai Holding said that it expected to start work on the site early last year with a view to comple the first phase in 2018.
However, at Cityscape last year chief operating officer Morgan Parker said that work needed to be done to make the site more permeable, with more roads running through it and a major transport node proposed.
Dubai Holding did not say where on Sheikh Mohammed bin Zayed Road the site is being relocated to, nor did it give any indication on when work is likely to start.
It did say, however, that the project would undergo “extensive planning work” to allow it to become a major retail and leisure destination.
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Updated: August 31, 2016 04:00 AM