Mall of the Emirates announces Evolution 2015; multi-stage AED 1 billion redevelopment
Dubai’s Mall of the Emirates has announced an exiting project called 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 begun its first phase, 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 offerings. Evolution 2015 is the largest redevelopment project that 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. The project involves a complex re-merchandising strategy that includes integrating existing brands with new fashion options and creating a refreshed collection. Featuring more than 30 international brands in total, the contemporary fashion district will be revealed to the public early next year.
Mall of the Emirates’ announcement lends further support to the latest CBRE 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% of the mall’s 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 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.
Source: WAM news agency