Mall of Emirates announces AED 1bn redevelopment

Dubai’s Mall of the Emirates (MOE) has revealed an AED 1 billion (US $272m) redevelopment project. Evolution 2015 will expand luxury retail and the VOX cinema multiplex, as well as add a fashion district and sports and leisure precinct. Phase one is already under way with the AED 100m district, which will house more than 30 international stores and several cafes. “Evolution 2015 is Mall of the Emirates’ most ambitious project to-date with a total investment of AED 1 billion,” said Dimitri Vazelakis, executive managing director shopping malls for Majid Al Futtaim Properties. “The onset of phase one, which will create a unique fashion and lifestyle destination, will complement our existing luxury and mid-market fashion offer. 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 MOE at the forefront of the region’s fashion retail industry.” The new section will be unveiled in early 2014 and will result in the transformation of a key precinct in the mall’s east wing, a 5,000sq m area which is currently a mix of textile, arts and gift stores. By 2015, a quarter of MOE will be new for shoppers, including debut brands and complete brand transformations by existing retailers. Source: Travel Daily