Dubai Project to Break Ground

Sheikh Mohammed bin Rashid al-Maktoum, ruler of the emirate of Dubai, announced the launch of a new entertainment, hotel and shopping center project last Saturday. Located in Mohammad Bin Rashid (MBR) City, The Mall of the World is set to be the world's largest shopping mall.

The statement did not give a scheduled opening date for the project. The cost or sources of financing for the development have also not been disclosed. However, Mohammed Abdullah al-Gergawi, chairman of Dubai Holding, Sheikh Mohammed's personal investment vehicle and developer of the project, said “The project will be built in phases in alignment with the gradual growth of family tourism in Dubai.” 

The development’s 8 million-square-foot Mall of the World will connect to theaters, a theme park, medical tourism facilities and 100 hotels and apartment buildings. More than four miles of promenades — opened to the air during the winter and enclosed and climate-controlled during the summer — will connect the facilities. The emirate expects 180 million visitors annually.  Plans for the district were originally announced in late 2012, according to Reuters.