Dubai Mall's Fashion Avenue expansion now open

Emaar Malls says 150-shop expansion offers 'five-star experience unmatched in the region'
By Staff writer
Sat 10 Mar 2018 03:41 PM

The Dubai Mall’s expansion of the Fashion Avenue is now open, Emaar Malls said on Saturday, welcoming more than 150 luxury brands.

Connoisseurs of style will have a "veritable showcase of exclusive concepts" to choose from, delivered by the world’s leading luxury retailers at their flagship outlets, while many mark their Middle East debut at The Dubai Mall, the retail operator said in a statement.

"With inspired architecture and a sophisticated collection of art pieces from around the world, Fashion Avenue offers a distinct, five-star experience unmatched in the region," it added in a statement.

The expansion comes as Emaar Malls reported a Q4 profit of $156 million, an increase of 27 percent, in its latest quarterly results.

The shopping malls and retail business, majority-owned by Emaar Properties, said its revenue for the last three months of 2017 was $307 million, up 35 percent on the 2016 final quarter.

Retail occupancy levels across Emaar Malls assets averaged 94 percent during 2017, welcoming 130 million visitors in 2017, 4 percent higher than 2016.

The Dubai Mall welcomed 80 million visitors in 2017, underlining its reputation as the world’s most visited retail destination.

For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Sat 10 Mar 2018 02:45 PM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.