Dubai has approximately 65 malls, with 10 more on the way. Some people consider the malls to be the most iconic part of Dubai. No other mall holds greater significance than the Dubai Mall. The Dubai Mall was inaugurated 18 years ago this November and is the second-largest mall in the world by total land area. In 2013, it was replaced by the New Century Global Center in China. To describe it as a mall is an understatement. In addition to more than 1,200 stores, the mall boasts distinct neighborhoods, such as a high-fashion district akin to Fifth Avenue and “The Village,” an open-air “street,” as well as a multitude of restaurants, movie theaters, a luxurious hotel, an Olympic-sized ice-skating rink, a virtual-reality theme park, and an aquarium. How much did it Cost to Build Dubai Mall with such a description? The entire megacomplex cost of Dubai mall construction is $20 billion to construct. Let’s in dubail mall tell more facts about Dubai Mall in the following parts.
How Much Did it Cost to Build Dubai Mall?
Imagine entering a vast and expansive space that resembles a city within a city. Dubai Mall is precisely that—a colossal monument of modern architecture, luxury, and commerce. But what was the cost of creating this masterpiece? The number could surprise you. When we talk about Dubai Mall, most people associate it with the world’s largest shopping mall, which is filled with high-end stores, restaurants, and even an ice rink.
However, beneath its opulent exterior lies a staggering expense that few comprehend. What was the cost of Dubai mall construction? The Dubai Mall construction, completed in 2008, cost an estimated $20 billion USD. Yes, you read that right. This project is not merely a mall; it is a significant undertaking that exemplifies Dubai’s aspiration to become a global center for tourism, commerce, and luxurious living.
Factors Affecting the Construction Cost
To understand the $20 billion cost of the Dubai mall, one must understand that it is not just about shopping. It is a complex ecosystem, which includes:
- There are over 1,200 stores that cover an area of 5.9 million square feet.
- Dubai Aquarium and Underwater Zoo has more than 140 species of marine life.
- The Dubai Ice Rink is big enough for international skating events.
- The Dubai Fountain was built for $218 million and has water displays that move to music.
In addition to these attractions, Dubai Mall also houses a luxurious hotel, residential apartments, and office space, resulting in a comprehensive lifestyle experience.
Comparing Dubai Mall’s Construction Cost with Other Global Malls
Over the past two decades, there has been a significant amount of building and construction activity started in the United Arab Emirates. This has resulted in the emergence of high-quality structures that have been constructed utilizing the most recent technologies. How much did it Cost to Build Dubai Mall? The entire Dubai Mall construction cost $20 billion. Let us compare Dubai Mall construction cost with some other Global Malls in the following part.
- Iran mall
The budget for this complex is $370 million, and there are violations related to the type of use, parking, and construction license.
- Berjaya Times Square
The cost of construction is RM 1.75 billion Berjaya Assets Berhad and features a built-up area of 7.5 million square feet.
- Istanbul Cevahir
Istanbul Cevahir was constructed on a land plot measuring 62,475 m2 (672,000 square feet) at a cost of US$250 million.
- West Edmonton Mall
Besides the stores, there is also an amusement park, a water park, a hotel, an indoor lake with four submarines, an exact replica of Columbus’ ship Santa Maria, an NHL-sized ice rink, and several themed streets. The total cost of building the mall was estimated to be around $1 billion.
- CentralWorld
CPN’s forthcoming new mall, CentralPlaza Nakhonratchasima, will be situated on a land area of 52 acres (8.2 hectares) outside the city center of Nakhon Ratchasima and is estimated to have a cost of approximately Bt7 billion.
- SM Mall of Asia
The SM Mall of Asia, which was constructed at a cost of P6.5 billion, is anticipated to contribute approximately three to five percent to the revenues of the SM Group this year, with the potential to increase to 10 percent in the long run. The 25th mall of SM Prime Holdings Inc. measures 400,000 square meters with provisions for further expansion.
- SM Megamall
According to our sources, the construction of the high-end mall in Bonifacio Global City incurred a staggering P3.5 billion, in contrast to the generic mall designs that cost a fraction of this amount.
- ICONSIAM
The project cost 54 billion (US$1.5 billion) and was made by Siam Piwat Group, MQDC Magnolia Quality Development, and Charoen Pokphand Group.
Who Founded the Dubai Mall?
Mohamed Ali Alabbar is an Emirati businessman who founded Emaar Properties, a real estate development company involved in projects like the Burj Khalifa and Dubai Mall. He is the founder and chairman of Eagle Hills, a private investment and real estate development company in Abu Dhabi. The Dubai Mall was built by a joint venture of CCC and Dutco Balfour Beatty. The Dubai Mall is the ultimate entertainment destination with over five million square meters of commercial property. However, it is belonging to the Emaar Properties.
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