Emaar Malls properties attracting an extra 1 million visitors a month


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Ninety million shoppers have flocked through the doors of Emaar Malls’ retail empire so far this year – equating to 1 million more visitors a month each month compared with 2014.

According to Emaar Malls Group, which owns Dubai’s largest shopping centre, The Dubai Mall, visitor numbers for the first nine months of 2015 have grown 11 per cent compared with 81 million from last year.

The seemingly relentless growth in visitor numbers helped Emaar Malls report a Dh376 million profit for the three months to the end of September – a hike of 17 per cent compared with the same period a year ago, the company said in its third-quarter results published yesterday.

At the same time revenues grew to Dh728m, up 12 per cent compared with a year earlier.

The company, which is majority owned by Emaar Properties, said tenant sales across all Emaar Malls assets – The Dubai Mall, Souq Al Bahar, Dubai Marina Mall, and Gold & Diamond Park – grew to Dh13.5 billion during the first nine months of the year.

Emaar Malls estimated that annualised tenant sales per square foot stood at Dh4,216 – about the same amount as last year.

The company said that its occupancy rate during first nine months stood at 96 per cent and that it had been pushing up base rents 29 per cent for leases renewed during the period.

Net profit for the nine-month period stood at Dh1.22bn – up 30 per cent compared with a year earlier, while revenues came in at Dh2.19bn – 15 per cent higher than last year.

“The positive and sustained growth of Emaar Malls during the first nine months of this year underlines the success of our strategy to position our retail assets as family-oriented destinations,” said Mohamed Alabbar, the Emaar Malls Group chairman.

However, analysts warned that Dubai’s retail market is starting to slow down as the strong US dollar and a dip in the number of high-spending Russian visitors take their toll just as a glut of new space hits the market.

According to JLL, about 403,000 square metres of new mall space is set to be completed next year, which will prompt retail rents in the city to start to fall.

“We expect average retail rents to drop over the 12 months as the market moves through its cyclical peak,” said Craig Plumb, the head of research at JLL’s Dubai office.

lbarnard@thenational.ae

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4,872 matches 

1,942 teams

116 pitches

76 nations

26 UAE teams

15 Lebanese teams

2 Kuwaiti teams

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Last six stroke-play events (First round score in brackets)

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The details: Visas are available for 247 Zambian kwacha or US$20 (Dh73) per person on arrival at Livingstone Airport. Single entry into Victoria Falls for international visitors costs 371 kwacha or $30 (Dh110). Microlight flights are available through Batoka Sky, with 15-minute flights costing 2,265 kwacha (Dh680).
Accommodation: The Royal Livingstone Victoria Falls Hotel by Anantara is an ideal place to stay, within walking distance of the falls and right on the Zambezi River. Rooms here start from 6,635 kwacha (Dh2,398) per night, including breakfast, taxes and Wi-Fi. Water arrivals cost from 587 kwacha (Dh212) per person.

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if you go

The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.

The trip 

Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.

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The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road. 

The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
 

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Company profile: buybackbazaar.com

Name: buybackbazaar.com

Started: January 2018

Founder(s): Pishu Ganglani and Ricky Husaini

Based: Dubai

Sector: FinTech, micro finance

Initial investment: $1 million

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Premier League results

Saturday

Tottenham Hotspur 1 Arsenal 1

Bournemouth 0 Manchester City 1

Brighton & Hove Albion 1 Huddersfield Town 0

Burnley 1 Crystal Palace 3

Manchester United 3 Southampton 2

Wolverhampton Wanderers 2 Cardiff City 0

West Ham United 2 Newcastle United 0

Sunday

Watford 2 Leicester City 1

Fulham 1 Chelsea 2

Everton 0 Liverpool 0

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MATCH INFO

Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)

Where: Wanda Metropolitano
When: Thursday, kick-off 10.45pm
Live: On BeIN Sports HD

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5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed

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