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FINANCIAL NEWS
Dubai aims to establish world’s largest shopping mall
10 Feb 2016
(MENAFN) Dubai proclaimed that it would construct the world’s biggest shopping mall despite an economic slowdown pending in the area, but would assess market need before continuing with the project.
Furthermore, the project includes 8mn square feet (745,000 square meters) of shopping space linked to a theme park, 100 hotels and serviced apartment buildings with 20,000 rooms.
However, oil makes little influence to the country’s economy, but its fall has reduced consumer and investor confidence in the Gulf’s financial and tourist hub.
“We will be reacting to the demands of the market. The project is massive and complex and will have to be built in stages,” said vice-chairman of Dubai Holding.
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