The retail industry is booming in the Middle East
Through Dubai’s Expo 2020 vision, construction work has significantly increased in the region in order to develop current and existing infrastructures, in addition to develop current spaces to become more sustainable, energy efficient and attract locals and tourists.
To this effect, construction work is underway for two new shopping malls, one within Dubai and one in Oman, which will provide a boost to the local economy and drive further market growth. Majid Al Futtaim is behind the Mall of Oman development, alongside Shapoorji Pallonji Middle East and Consolidated Contractors Company Oman. Salini Impreglio will be responsible for the construction of the Meydan One development in Dubai, at a total cost of $435 million.
Both malls will house a number of new retail stores, with the Mall of Oman houses over 300, in comparison to Meydan One’s 620, spanning over 130,000sqm. Similar to the Dubai Mall, both the Mall of Oman and Meydan One will also incorporate a new snow area for winter sports lovers and cinema, alongside communal spaces, sports facilities and over 100,000 restaurants.
Ghaith Shocair, CEO of Majid Al Futtaim Shopping Malls at Majid Al Futtaim said: "We are proud to announce the imminent construction of Mall of Oman, which will be Oman’s largest mall and set unprecedented standards for the emerging retail and entertainment landscape in the Sultanate.
The new malls will also incorporate a strengthened transportation networks, with the Meydan One development incorporating two metro lines which will be embedded underneath the building, which will ink with Dubai airport. Both will also house car parks with a capacity to house over 5000 vehicles.
However, Meydan One is set to break several records, with the incorporation of the largest dancing water fountain in the world, and will house one of the world’s tallest buildings within the Meydan complex. Throughout the mall, tourists will also have the ability to kayak throughout the building instead of walking, and music lovers will enjoy the floating stage, which is set to be built for future concerts in the region.
Meydan Chairman Saeed Humaid Al Tayer said: “In our vision for Meydan One we have brought together all the wonders of a retail and leisure experience into one space, making this the number one destination for the UAE and indeed, the Middle East. With construction now underway, the Meydan One Mall is scheduled to be completed by 2020, in line with phase 1 of the Meydan One mega development.”