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Dubai’s Emaar Malls See Sales Rise 42% in 2021

Dubai’s Emaar Malls have seen a 42% rise in sales in 2021. It has been one of the remarkable growths in the history of Dubai specifically and UAE in general. One of the biggest causes for this growth achievement is most probably the increased number of tourists coming to Dubai and the opening of new malls. The group has been shaping landscapes since it has been founded. UAE is amongst the top three most positive markets out of the 21 surveyed by the global health services company Cigna Corporation. Dubai’s Emaar Malls have made a significant contribution in making UAE rank brilliantly.

Some of the notable Emaar malls are Namshi, the Dubai Mall, Dubai Marina Mall, Gold and Diamond Park, Souk Al Bahar and the Ranches Aouk. Emaar consists of total properties inclusive of 32 community centers, four shopping malls and other retail properties. This entire property covers a total area of 6.7 million square feet. Emaar Malls Group is headquartered in Dubai, the UAE with five different offices in five different countries. In 2021, Emaar Malls saw a 42% rise in sales. This was mainly due to their new strategy of diversifying their portfolio and opening up to other markets like Africa and Europe.

The company has been preparing for this moment for a while now by investing heavily into its regional expansion plans and international portfolio diversification. These investments are expected to bear fruit as they have already started reaping benefits from the rising demand for retail space across Europe and Africa. Emaar is one of the largest property developers in Dubai. It has been operating for over 20 years now and has some of the most iconic malls in the region, including Burj Khalifa, Jumeirah Beach Residence, Dubai Mall, and The Gardens Mall. Emaar Malls was founded by Muhammad Alabbar in 1997.

People of Dubai, similar to the rest of the world, suffered a severe social, economic and cultural setback after the outbreak of coronavirus leading to strict lockdowns. Business, shop owners, and every common person has suffered economically during these times. It was a very hard time countries have to go through especially when it comes to keeping their economy stable and their people safe. Sales increase by 42% after the pandemic for Emaar is surely a very hopeful sign for the mall business in Dubai. The moment when the world’s eye is on you to increase businesses and cover the losses caused by the pandemic, Emaar Dubai has surely achieved this milestone.

Emaar Malls owns & Operates 363 Retail Assets with GLA of 6.84 Mn sq. ft. The plan of the group owners was to launch Dubai Hills Mall in the first quarter of 2022, which would have further boosted the business profit in the short-term. Namshi is the e-commerce fashion and lifestyle platform at the Emaar Malls and it recorded sales of about 1.54 billion dirham in 2021. Sales forces were majorly driven by the consumers in Saudi Arabia, Qatar and Kuwait because the platform was launched in these countries last year. Emaar Malls industry is a mixture of hospitality, entertainment, leisure, shopping and other commercial services.

Emaar Mall is the second largest shopping mall in the world. It was inaugurated in 2009 with over 1,200 stores and 200 restaurants. It is also a home to Underwater Zoo, Dubai Aquarium, Dubai Ice Rink, KidZania and Reel Cinemas. With all these spectacular destinations to visit under one roof, Emaar Mall has become a signature tourist brand when it comes to Dubai. Tourists visiting the country place Dubai Emaar Mall on the top of their visiting places list. This mall is the ultimate luxurious experience for everyone. It is the beauty of grandeur and commercial aesthetics of the mall, which makes it so irresistible.

Emaar Malls group is one of the largest developers of shopping malls in the Middle East. The company has been enjoying a healthy growth over the last few years. The malls have also increased their sales from AED 10 billion in 2006 to AED 28 billion as of 2017. Emaar Malls has also seen an increase in its share price by more than 30% over the last year due to its recent expansion plans across Saudi Arabia and Qatar. Dubai’s Emaar Malls is going to be a key player in the retail sector. Dubai Emaar Malls guarantee every visitor something new to offer on every visit. There are always new and creative ways to make individuals, couples, families and kids have the best time of their lives at the Mall. When it comes to having an ultimate adventure, Dubai Mall is where one needs to be. Tourists have described the mall experience as the most entertaining time of their trip to Dubai.

Owners of Emaar Malls believe that their customers are expanding. According to them, 70% of their recent launches have made more new customers. These customers are like tenants who are converting the ownership. Their customers’ lifestyle is changing as they are upgrading their homes, moving to bigger houses and villas. Around 40% of these customers are the expatriate homeowners and foreigh investors. After the pandemic, improved mobility, high national vaccination rate, government reforms to company ownership rules and more flexible residency visas have all played a real positive role in the growth of this sector.

Emaar Dubai Hills Estate is the new dining, entertainment and shopping hub. It also includes Roxy Cinemas, Adventure Park and a roller coaster amongst some of the other exciting facilities. Emaar Malls is also working on a new project called Dubai Mall of the World, which will be located on Al Khail Road near TECOM Business Park. The mall will have more than 1 million square meters of retail space spread across seven levels. This kind of spacing actually reveals the magnitude and grandness of this business venture, which is likely going to benefit almost all the people who come to Dubai to fall in love with its malls. Nothing makes Dubai as spectacular as Emaar Malls.

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