When it comes to winning the “biggest in the world” category, Dubai is competing with itself. Already home to one of the world’s largest malls, the city announced plans this week for Dubai Square, a new mall that will cover 8 million square feet, nearly double the size of the Dubai Mall, Forbes reports.
Both Dubai Square, the world’s next largest mall as well as the world’s next tallest tower will sit in the heart of Dubai Creek Harbour, just a few minute drive from just a few minute drive away from our latest development; Easy18 which offers quality living at an affordable price. A stone’s throw away from the best Dubai has to offer, residents will have quick access to the top schools and entertainment venues including the following:
Dubai Autodrome
Dubai Festival City
Dubai Frame
Dubai Global Village
Dubai Miracle Garden
Dubai Outlet Mall
Dubai Safari Park
IMG Worlds of Adventure
Quran Park
Major landmarks are currently in development in this part of Dubai as well including Cityland mall, Dubai Library, Dubai Museum of the Future and many other.
Across the world, retailers are trying to figure out the best combination of online and in-store options. In America, 2018 is on track to become a record-breaking year for closing retail space. Mall staples like JCPenney, Macy’s and Sears are shuttering stores to minimize costs. While central malls in Dubai are still experiencing high retail occupancy, they can’t ignore the online shopping trend. Dubai Square will expand retail space to include stores that act like brick-and-mortar showrooms for online merchandise.
This “omnichannel” style of retail space will be bolstered by the inclusion of new technology. Purchases will be made via mobile, desktop or retail counter. According to the release, the experience will be augmented by “custom-designed mobile apps, quick checkout solutions, search and barcode scanning applications, radio-frequency identification technology, mobile payments and click-and-collect services.” It seems in the future of retail, making a purchase has never been easier or faster.
The developers plan for technology companies to thrive in this space. They propose that Dubai Square will include automotive, computing, sustainable technologies, 3D printing, drones and artificial intelligence industries. For example, to minimize wait time for food and beverage stands, international delicacies will be made by 3-D printers.
But the new era of retail is not just about having cutting-edge technology. Dubai Square will contribute to Dubai’s goal of becoming the happiest city in the world. Investing in retail is on par with investing in happiness in Dubai. His Excellency Abdulla Al Habbai, Chairman of Dubai Holding, explained in the report, “the retail sector is one of the pillars driving happiness amongst tourists, locals and residents alike, and as such remains a key focus for us.”
In addition, the project will create new social spaces. It is easy to feel dwarfed and disconnected in Dubai because of the immense scale of the city’s buildings. However, Dubai Square will include a smaller-scale main avenue that will have an “authentic city atmosphere” and “raise the bar on ‘quality time’.” Its size and design will be styled after famous shopping districts across the world like London’s Oxford Street, Los Angeles’s Beverly Hills, Paris’s Champs-Élysées and Tokyo’s Ginza, to name a few. This palm-lined avenue will be covered by a glass-panel dome.
Even before Dubai announced plans for Dubai Square, retail space in the city was already expected to increase by 50% in the next three years due to an estimated 16 million foot expansion. As Dubai bets on retail, real estate adviser CBRE Group Inc. warns this rapid expansion could lead to vacancies in certain malls. The group predicts that as retail expands, its future won’t depend on size, but on quality. If Dubai has it their way, the new mega-mall will have both.