Emaar Malls Group highlights global mall development portfolio at MAPIC

Emaar Malls Group, the shopping malls subsidiary of global property developer Emaar Properties, is showcasing its global mall development portfolio at the MAPIC retail real estate expo to be held from November 19 to 21 in Cannes, France.

Emaar Malls Group will showcase mall developments of over 10 million sq ft in total being developed in Morocco, Turkey, Egypt, Syria, the UAE and other key emerging markets in the Middle East, North Africa, Indian Subcontinent and Asia regions.

Among the highlights of Emaar Malls Group's participation is a spectacular showcase of the recently opened The Dubai Mall and the up-and-coming Dubai Marina Mall. MAPIC's country focus on Turkey this year, provides an introduction for Emaar's new retail development in Istanbul, sprawling up to 100,000 square metres as part of a new mixed-used community.

Mr Jim Badour, Chief Executive Officer, Emaar Malls Group, said: "With the opening of The Dubai Mall, our flagship project in Dubai, Emaar Malls Group has established its credentials in developing world-class mall developments. Through our participation in MAPIC, we will further highlight our global development portfolio, especially in Morocco, Turkey, Syria and Egypt."

He added: "As a global retail real estate event, MAPIC is attended by leading retailers and other developers. Through our participation, we are exploring the potential for more partnerships in retailing across our global portfolio. We also look forward to sharing our competencies in mall development with the industry."

Emaar Malls Group, through a projected investment of over US$4 billion in key markets, has plans to develop 800,000 sq ft of mall space in Morocco and Syria each. These are mostly centred on Emaar's master-planned community projects, and support the developer's vision of creating integrated lifestyle communities.

In Morocco, Emaar Malls will be focused on Tinja and Saphira, and in Syria, Emaar is developing one of the largest mall developments in the Levant region as part of The Eighth Gate, an integrated neighbourhood. Emaar Mall's newest development in Istanbul, Turkey will be located on the Asian side of the Bosphorus in the new Istanbul project. Emaar is also developing the Tuscan Valley Retail, Entertainment and Leisure Centre, part of a US$700 million integrated community 30 minutes from Istanbul. In Egypt, several shopping mall and retail developments are being planned including Cairo Gate Village, Uptown Cairo Mall and in the mixed-use developments of Marassi and New Cairo City.

With the opening of The Dubai Mall, Emaar Malls Group has already added on 3.77 million sq ft of gross leasable space to Dubai, and is now the largest operator of malls in the UAE. To feature 1,200 retail outlets – of which over 600 are already open – the mall expects to host over 30 million visitors in the first year of opening. Leisure and entertainment attractions like the Dubai Aquarium & Discovery Centre featuring the Guinness World Record holding 'World's Largest Acrylic Panel,' Dubai Ice Rink, Gold Souk and Fashion Catwalk atrium are strong draws. Other attractions such as KidZania®, SEGA Republic® and a 22-screen cineplex will open in 2009. 

Emaar Malls Group is currently completing the Dubai Marina Mall with 390,000 sq ft of gross leasable area and featuring 160 retail outlets, set amidst a vibrant Marina. It also features a tower dedicated to gourmet cuisine, waterfront dining options, a six-screen cinema complex and 2,200 parking spaces.

Emaar's expansion to malls is in line with its Vision 2010 to become one of the most valuable companies in the world through geographic expansion and business segmentation. Emaar has also expanded into education, healthcare, financial services and hospitality & leisure.