Dubai Mall
After numerous delays, the Dubai Mall finally opened this week, with the General Manager, Mr. Yousif Al Ali promising that “The Dubai Mall is bringing in a truly qualitative difference to shopping by offering a total lifestyle experience,” as he opened the Aquarium.
The Mall is situated at the base of the Burj Dubai, which is currently the tallest building in the word, albeit still under construction. One has to wonder at the need for another mega-mall in a country that already has several king-size shopping centers. Dubai Mall is the largest shopping center in the history of shopping centers and will eventually be home to 1,200 retailers, although some of the cornerstone retailers have yet to open their doors. Galleries Lafayette and Bloomingdales are scheduled to open in 2010, and there are presently 600 retailers open for business, including British supermarket chain Waitrose and Hamleys toy store.
Many have expressed some doubt as to whether the owners, Emaar, will be able to attract their target of 30 million visitors a year, especially with the current economic downturn. Economist Eckhart Woertz said, “The impact of the financial crisis is being felt everywhere, and that includes the United Arab Emirates, where the appeal of shopping centres could suffer from restrictions imposed by banks on the use of credit cards.”
It would seem investors agree with this sentiment. Emaar’s shares have fallen over 60% in value this year, despite buy backs by the company. Under local regulations Emaar is permitted to buy back up to 10% of it’s shares, and has done so in an attempt to stem the falling value.
The Dubai Mall includes a gold souk, an olympic-size ice-skating rink, a dedicated “Fashion Avenue,” with 70 signature stores, a 22-screen multiplex, an indoor theme park, an 80,000 square foot children’s “edu-tainment” center and an aquarium that boasts the “World’s Largest Acrylic Display Panel.”
And if that is doing to your heartrate what it is doing to mine, here is a soothing photo of one of the sharks in the aquarium.
Shark in the Dubai Mall Aquarium
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The condition of the country has ruined to that much extent that the world nations should come forward to help it. The unemployment and poverty has destroyed the lives of the millions.
learn checkers -
What? Citibank just donated $8 billion to the families who control Dubai. Ask them for some of that.