Dubai mall among world's most profitable

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai's Mall of the Emirates has been named among the world's top 10 most profitable shopping malls in a new report.

Majid Al Futtaim Properties' flagship mall in Dubai, has been ranked the seventh most productive shopping centre in the world, earning $1,423 per sq ft per annum, according to research by the International Council of Shopping Centres (ICSC).

According to ICSC, the 2.5 million sq ft Mall of The Emirates is nearly three times more profitable per sq ft than the industry average.

The research said its sales surpass those of some of the most internationally renowned shopping destinations in Los Angeles, Toronto and Orlando.

Since opening its doors in 2005, Majid Al Futtaim Properties said the Mall of the Emirates has witnessed "consistent footfall growth and impressive demand from retailers".

Annual footfall numbers have increased by an average 8-10 percent, the company said in a statement.

In the first half of 2012, the Mall welcomed more than 20 million visitors, on track to surpass 2011's total of 36 million visitors.

Housing 535 international retail brands, there are currently over 160 international brands on the waiting list for space at Mall of The Emirates, it said.

Peter Walichnowski, CEO of Majid Al Futtaim Properties, said: "We are very pleased to be recognised on an international level, which confirms our position as the retail leader in the Middle East region including Dubai, one of the world's most iconic shopping destinations.

"We are constantly investing in renovating our offerings, refreshing our retail mix and developing new entertainment concepts. This has not only contributed to our leadership of the market, both in the region and worldwide, but has also played a fundamental role in positioning Dubai as the second top retail hub in the world after London," he added.

Mall of the Emirates, was ranked seventh in the ICSC rankings, behind shopping centres in Sydney, New York City, London, Las Vegas and Miami.

ICSC's annual survey classifies the world's 15 most lucrative malls and analyses factors contributing to their success.

Mall of the Emirates was the only mall in the Middle East to qualify among the world's top 15 shopping malls.

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: Sam

Arabian business guys,
Surely the story title could have been better - i was surprised to find (just by looking at the title) that Dubai Mall is among the most profitable in the world. So I clicked on the story out of curiosity, only to find that the talked about mall is actual MOE (Mall of Emirates); profitability of which is a NO SURPRISE !
MAF projects are the best in this country.

Posted by: Paolo C

Sorry to say the title is deceiving. In fact it's profitable for the owner not for the shop keepers.

Posted by: realiste

Good to see this. Well done MOE.

I live closer to the Dubai Mall but always go to the MOE which is further away.

That traffic nightmare into Dubai Mall just puts me off. Can't see it ever getting any better.

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

Dubai's nightlife bubble: When is it going to burst?

Dubai's nightlife bubble: When is it going to burst?

A new breed of clubs and bars is sprouting in the city, but which...

Chocolate: worth its weight in gold?

Chocolate: worth its weight in gold?

Middle Eastern consumers with a sweet tooth are buying up ever...

Most Discussed
  • 10
    UAE teens among the highest for obesity rates

    Everyone in UAE knows that biggest is best.

    UAE may not light up the international league tables in standard of living, education standards, press... more

    Friday, 29 August 2014 4:20 PM - Proud UAEer
  • 9
    Saudi Arabia seeks talks on hiring of Sri Lankan maids

    perhaps the unemployed saudi men or the millions of women who are not allowed to work could pick up a broom and start sweeping their own houses. more

    Sunday, 31 August 2014 3:28 PM - nice
  • 9
    Smoke-free Dubai - the big debate

    Surprisingly the only studies that show a negative financial impact of the smoking ban on the hospitality industry are sponsored by tobacco companies ... more

    Wednesday, 27 August 2014 4:19 PM - Telcoguy
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew