The Dubai Mall brings in a 26 per cent retail growth in 2013
World’s largest mall experiences 15 per cent increase in visitors
January 29, 2014 6:40 by kippreport
The Dubai Mall has experienced considerable growth in visitors and retail sales since its inception in 2008, making it the most visited mall in the world in 2013. With 54 million visitors in 2011 and 65 million in 2012, the mall experienced a 15 per cent annual growth in visitors in 2013, bringing in more than 75 million people, which pushed retail sales to a record 26 per cent overall growth.
“The socio-economic impact of the mall on the emirate’s economy is tremendous, having generated more than 25,000 jobs and consistently driving the growth of the city’s retail, leisure and hospitality sectors – the core contributors to Dubai’s GDP,” says Abdulla Lahej, group CEO of Emaar Properties, the mall’s developer.
With more than 1,200 retail outlets, the mall sold more than 50 per cent of all luxury goods in Dubai’s retail market last year, “contributing significantly to Emaar’s recurring revenues,” according to Lahej, which added value to Emaar’s stakeholders.
“Having established Dubai as a global fashion capital, we are now further enhancing the fashion and lifestyle choices at the mall with the expansion of the Fashion Avenue by another one million square feet, which will add 150 new brands to the mall,” says Nasser Rafi, CEO of the Emaar Malls Group LLC.
Thus, with the success of producing such a large entertainment venue with more than 1,200 retail stores, several restaurants and cinemas, to name a few, Dubai attracts tourists from around the world who make up 40 per cent of the mall’s visitors. The majority of the tourists come mainly from the GCC countries, China, India, Russia and Europe.
The mall’s main attractions are the Dubai Aquarium and Underwater Zoo, SEGA Republic, KidZania, and the Olympic-sized ice rink.