The new The new wing at Mall of the Emirates, set to open on September 1, is all about luxury at every level.
July 27, 2010
“These are five-star toilets but I keep calling them seven star,” said Fuad Sharaf, the vice president at Mall of the Emirates, pointing out the new restrooms. “We are investing heavily in the business and that is all for the customers.” Cheap Christian Louboutin Shoes
In the men’s room, the counters are made of shiny marble and the oval sinks are of hammered nickel. The ladies’ room has a similarly opulent look.
Majid Al Futtaim Properties, the developer behind Mall of the Emirates, has spent about Dh500 million (US$136.1m) building the 10,500 square metre extension to the shopping centre, adding another 40 luxury stores such as Christian Louboutin and Versace. The new wing will also have valet parking at the entrances on three levels. The ground floor will have restaurants and seating areas around a fountain.
Mr Sharaf said the new facility was necessary to stay ahead. “If you are going to remain the same for 10 years no one will bother to come to your mall. This is the nature of the business.”
It is also a sign of how competitive the
By the end of this year, the total mall retail space across
And with many consumers in the Emirates adopting thriftier spending habits, retailers have been having to work harder to attract customers.
Some brands have started relocating to better-performing malls and some centres with vacancies have lowered their rents, analysts say.
But Mall of the Emirates has remained popular with tourists and residents, despite the difficult economic environment, said David Macadam, the regional director of retail at Jones Lang LaSalle.
“The mall has some of the highest sales performance of any mall in the world, still,” Mr Macadam said.
Despite the glut of retail space in the emirate, he said he expected the extension to draw customers.
Although some luxury retailers had a tough time last year, there are still wealthy consumers who are looking to shop, Mr Macadam said.
“They have a guaranteed footfall at Mall of the Emirates,” he said. “It just has a very strong catchment and a good demographic profile.” ugg boots sale
Footfall at the shopping centre was steady throughout last year and has risen between 3 and 5 per cent this year, said Mr Sharaf.
On the average weekday, between 70,000 and 80,000 shoppers visit the mall, and that rises to between 100,000 and 110,000 at the weekends.
Mr Sharaf said Mall of the Emirates had not been forced to drop its rental rates as the shopping centre continued to be busy. The mall and the new wing were fully leased.
“Building that extension and investing heavily in this mall, that will make sure that we maintain and increase our sales and footfall,” he said.wing in Mall of the Emirates feathered with luxury throughout
