The much-talked about Mall of the World project, a massive temperature-controlled indoor city and shopping complex in Dubai, will take about ten years to complete and require Dh25 billion in funds. It is not clear yet when the construction of the project will start, but according to Dubai Holding Chief Executive Ahmad Bin Byat, the mega structure will need about Dh2.5 billion “every year for the next 10 years”. Dubai’s mega Mall of the World project is progressing on track and is currently in the detailed design stage, a senior official has confirmed.
The mega project, which was launched in 2014 by state-owned Dubai Holding, is a 15-year development, said the conglomerate’s chairman Mohammad Abdulla Al Gergawi. The funding for the project – estimated to cost Dhs 80bn – will be distributed across the entire time span, he told reporters. He was speaking on the sidelines of the launch of the Dhs 1bn Marasi Business Bay project by Dubai Holding’s real estate arm, Dubai Properties Group.
Well the giant mall that’s meant to be bigger than Dubai Mall is being relocated.
A release by Dubai Holding on the Mall Of The World website says that they’ve taken the decision to move the mall to a spot on Sheikh Mohammed bin Zayed Road.
Why? So that the “project’s positive tourism contribution can be fully realised”.
Mall Of The World was announced back in late 2012, with its original location set to be in Mohammed bin Rashid City.
In July 2014, Dubai Holding changed the location again to Al Sufouh district along Sheikh Zayed Road.
It’s now going to be on Sheikh Mohammed bin Zayed Road.
They’re not going to build it all in one go though. The first of four phases which will be 8 million square feet will be completed by 2020.
Once constructed, inside Mall Of The World you’ll find the largest indoor game park in the world with a dome that can be opened throughout winter, as well as theatre areas, cultural events, over 100 hotels, apartment buildings and 7 kilometres of covered streets. Oh, and all of it will be climate controlled.
Source: whatson, gulfnews
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