Mall of the Emirates announces Evolution 2015, an aspiring multi-stage redevelopment project worth an estimated AED 1 billion.
- Redevelopment to include a new fashion district, luxury retail, and sports and leisure precinct, alongside unique dining concepts and an expansion of VOX Cinemas
- Phase one already under way - AED 100 million fashion district to feature more than 30 contemporary fashion brands
- Fashion district to be unveiled in early 2014
- By 2015, a quarter of Mall of the Emirates will be new for shoppers, including debut brands and complete brand transformations by existing retailers
Dubai, UAE, 10 September 2013 – Mall of the Emirates announces Evolution 2015, an aspiring multi-stage redevelopment project worth an estimated AED 1 billion. The project, which will reveal a series of exciting new shopping, dining and entertainment concepts, has already started on phase one – a new, AED 100 million district dedicated to contemporary fashion. More than 30 international stores, including several cafes, will define this new retail precinct, unveiling a refreshed collection of debut brands that will complement the mall’s existing fashion offer. Evolution 2015 is the largest redevelopment project Mall of the Emirates has embarked on to-date, and will set a compelling standard of design and shopping excellence for the retail landscape.
Putting Evolution 2015 into motion, phase one– the fashion district -- commenced this summer, and will result in the transformation of a key precinct in the mall’s east wing, on the first floor - a 5,000 sqm area currently offering a varied retail mix of textile, arts and gift stores. The project involves a complex re-merchandising strategy that includes integrating existing brands with new fashion options, creating a refreshed collection. Featuring more than 30 international brands in total, the contemporary fashion district will be revealed to the public in early 2014.
“Evolution 2015 is Mall of the Emirates’ most ambitious project to-date with a total investment of AED 1 billion. The onset of phase one, which will create a unique fashion and lifestyle destination, will complement our existing luxury and mid-market fashion offer,” said Dimitri Vazelakis – Executive Managing Director - Shopping Malls for Majid Al Futtaim Properties. “The new fashion district will support the emirates’ wider aspirations towards Dubai Fashion 2020, and will define a new meeting point for our visitors, positioning Mall of the Emirates at the forefront of the region’s fashion retail industry.”
Mall of the Emirates’ announcement lends further support to CBRE’s retail report* which stated that ‘Mid-Range' fashion retailers entered more new markets than any other sector last year, accounting for 22% of all new openings, followed by 'Luxury and Business Fashion' retailers at 20%.
Currently, more than 45% - or 250 of Mall of the Emirates’ 560-plus stores -- are dedicated to fashion, creating an attractive platform for some of the world’s most sought-after brands. In 2010, Mall of the Emirates underwent an expansion to launch the Fashion Dome, a 10,500 sqm precinct dedicated to more than 80 luxury brands and up-market dining. In 2012, 44% of the mall’s total sales came from the fashion category, demonstrating the strength of the fashion retail market in the UAE.
When the transformation of Mall of the Emirates is complete, one quarter of the region’s best-loved shopping destination will be completely new to shoppers, including brands making their UAE debut alongside existing retailers embarking on a total remerchandising transformation of their brands. With Evolution 2015, Mall of the Emirates is demonstrating its commitment to redefining the shopping experience through further investment and development in luxury and fashion, sports and leisure, and dining destinations.
* CBRE - 2013 edition of How Global is the Business of Retail?