Mall of the Emirates to Get $1.36B Makeover
- Publish date: Thursday، 17 April 2025
Dubai’s Mall of the Emirates is getting a major glow-up. As it celebrates 20 years since opening, Majid Al Futtaim has announced a massive AED 5 billion ($1.36 billion) expansion that’s set to transform the iconic mall into an even bigger and bolder destination.
One of the UAE’s most popular malls, Mall of the Emirates is already home to 545 shops, 96 restaurants, Ski Dubai, and the region’s largest Vox Cinemas. And now, it’s about to get even more impressive.
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What’s Coming?
The multiyear upgrade will add 20,000 square metres of retail space, making room for around 100 new stores. It’s not just about more shopping, expect new experiences too. A cultural hub called New Covent Garden will open in 2025, featuring a 600-seat theatre in partnership with the Dubai Performing Arts Academy. Lifestyle and entertainment spaces will follow in 2026, and new dining options are set to open in early 2027.
Majid Al Futtaim has already spent AED 1.1 billion on ongoing improvements, including wellness, dining, and infrastructure upgrades. A major new bridge linking Umm Suqeim Street to Sheikh Zayed Road is also complete, making access to the mall even smoother.
Future-Ready and Sustainable
According to Khalifa bin Braik, CEO of Majid Al Futtaim Asset Management, this transformation is part of the company’s vision to create a “future-ready” retail experience. That means sustainability is a big focus, expect energy-efficient tech, smart systems, and eco-friendly design throughout the new spaces.
A Thriving Retail Scene
This expansion comes as the Gulf’s retail sector continues to grow. The region is seeing a strong comeback for in-person shopping post-pandemic. Reports project the sector to grow at a rate of 4.6% annually through 2028, led by the UAE and Saudi Arabia.
Mall of the Emirates welcomed over 40 million visitors in 2024 alone. With a booming luxury market, highlighted by Bottega Veneta’s revamped flagship store reopening last year, there’s no slowing down. Majid Al Futtaim is also set to launch more than 30 luxury stores in 2025 across the UAE and Saudi Arabia.
Big Numbers, Bigger Vision
In 2024, Majid Al Futtaim reported over AED 2 billion in net profit and nearly AED 34 billion in revenue. Its malls are 97% occupied, with footfall holding steady from the record highs of 2023.
All signs point to Mall of the Emirates becoming more than just a shopping destination, it’s a cultural, lifestyle, and entertainment hub for the next generation of visitors.
