More than three million square feet – 80 per cent – of the retail space in the Dubai Mall has been leased, according to a senior executive.
“We are quite selective, as we need the right tenant, the right store and the right merchandise,” Emaar Chairman Mohamed Ali Alabbar said, after announcing the launch of French department store Galeries Lafayette’s first foray into Dubai.
Dubai Mall, which is part of the Downtown Burj Dubai development, has a total gross building area of 5.8m sq ft, and leasable space of 3.77m sq ft.
“Our store will cover 192,000sq ft of retail space, and will be a key anchor tenant for Dubai Mall,” said Galeries Lafayette Group Chairman and owner Philippe Houze.
The department store will reflect a mix of European and Arabian culture and passion. “Dubai is our first step into this region. We see a lot of opportunities here, but we will go step by step,” Houze said.
Leading European brands have already ventured into Dubai, with the United Kingdom’s Harvey Nichols opening a store in the Mall of the Emirates, following a joint venture with Al Tayer Group. Saks Fifth Avenue, an American department store chain, has also opened a store at BurJuman.
[Via Emirates Today]
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