• The Dubai Mall will celebrate its 14th anniversary on November 4. Photo: Chris Whiteoak / The National
    The Dubai Mall will celebrate its 14th anniversary on November 4. Photo: Chris Whiteoak / The National
  • Dubai Mall construction in 2008. Photo: Emaar
    Dubai Mall construction in 2008. Photo: Emaar
  • In 2008 The Dubai Mall construction project was the largest retail development in the world. Nicole Hill / The National
    In 2008 The Dubai Mall construction project was the largest retail development in the world. Nicole Hill / The National
  • A worker plants a flower bed outside The Dubai Mall on October 30, 2008 a few days before the official opening. Nicole Hill / The National
    A worker plants a flower bed outside The Dubai Mall on October 30, 2008 a few days before the official opening. Nicole Hill / The National
  • A visitor in 2019 takes pictures of The Dubai Mall waterfalls. Chris Whiteoak / The National
    A visitor in 2019 takes pictures of The Dubai Mall waterfalls. Chris Whiteoak / The National
  • Visitors ice skate in the mall's ice rink with snowfall sessions. Chris Whiteoak / The National
    Visitors ice skate in the mall's ice rink with snowfall sessions. Chris Whiteoak / The National
  • Dubai Dino is the 150-million-year old dinosaur displayed at The Dubai Mall in Dubai. Satish Kumar / The National
    Dubai Dino is the 150-million-year old dinosaur displayed at The Dubai Mall in Dubai. Satish Kumar / The National
  • An elevated view of the construction on the new extension to the mall, which was completed in 2018. Photo: Antonie Robertson / The National
    An elevated view of the construction on the new extension to the mall, which was completed in 2018. Photo: Antonie Robertson / The National
  • A view of the extension of Fashion Avenue at The Dubai Mall. Pawan Singh / The National
    A view of the extension of Fashion Avenue at The Dubai Mall. Pawan Singh / The National
  • Shoppers at the mall in 2019, in front of a model of the Dubai Creek Tower. Chris Whiteoak / The National
    Shoppers at the mall in 2019, in front of a model of the Dubai Creek Tower. Chris Whiteoak / The National
  • Ramadan decorations at The Dubai Mall. Pawan Singh / The National.
    Ramadan decorations at The Dubai Mall. Pawan Singh / The National.
  • The Dubai Mall had the world's largest Christmas decoration bauble on display in 2018. Antonie Robertson / The National
    The Dubai Mall had the world's largest Christmas decoration bauble on display in 2018. Antonie Robertson / The National
  • Sealife at the mall's aquarium includes sting rays and sharks. Lauren Lancaster / The National
    Sealife at the mall's aquarium includes sting rays and sharks. Lauren Lancaster / The National
  • Fashion Avenue, The Dubai Mall. Jeffrey E Biteng / The National
    Fashion Avenue, The Dubai Mall. Jeffrey E Biteng / The National

Timeframe: The Dubai Mall in 2008 redefined the shopping experience


Maan Jalal
  • English
  • Arabic

It’s hard to imagine Dubai without one of the world’s most well-known malls. The UAE and Dubai have built and achieved numerous world firsts, but The Dubai Mall is really a feat of its own.

More than a Guinness World Record breaker (in fact, it has a few of those), The Dubai Mall redefined the meaning of shopping and entertainment when it opened 14 years ago.

The Dubai Mall opened on November 4, 2008 and was designed by DP Architects. It was completed on the scale of a city, at more than 120 hectares — approximately 50 football fields.

It features open, wide and airy boulevards that lead the way into the many realms of shopping. With more than 1,200 retail spaces (not including pop-ups and stalls), two global department stores — Galeries Lafayette and Bloomingdale's — and more than 200 international dining experiences, a 250-room luxury hotel and 22 cinema screens, it’s no surprise more than 100 million visitors flood there every year.

That figure is more impressive when you consider that The Dubai Mall has attracted more visitors in one year than other global landmarks such as New York City's Times Square and Central Park, even Niagara Falls.

The grand entrance of the mall once housed the Dubai Dino, a 7.6-metre-tall, 24.4-metre-long skeleton of a 155-million-year-old dinosaur. It has now been moved to the Souq Dome, which leads to the gold souq pavilion, designed with intricate and ornate motifs.

Other major attractions include the indoor waterfall and the aquarium and underwater zoo, which houses more than 300 species of marine animals, including sharks and rays. Then there's the Olympic-sized ice rink and, most recently, the mall’s very own immersive digital art gallery Infinity des Lumieres, which has displayed reimagined digital works of Vincent Van Gogh, Kandinsky and Gauguin.

The mall’s Fashion Avenue presents luxury shopping in a unique way. Aside from the engaging installations and stylish interiors, it’s rare to find nearly every international luxury brand from fashion, timepieces and homeware only a short walk from each other, but here you do.

You can't speak of The Dubai Mall and not mention Dubai Fountain, of course. The musically choreographed fountain system on the 12-hectare artificial Burj Khalifa Lake, between the mall and Burj Khalifa, attracts hundreds of thousands of visitors a year by itself.

It's more than just about impressive numbers or breaking the conventions of what malls are about, though. Like the rest of the UAE, The Dubai Mall is about an experience to remember and showing the world what amazing things can be achieved with creativity, a sense of adventure and a great vision.

Remembering the first Emirates flight … EK600 to Karachi — in pictures

  • Emirates' first flights in October 1985 used leased aircraft. Photo: Emirates
    Emirates' first flights in October 1985 used leased aircraft. Photo: Emirates
  • An Emirates A380 in flight. Photo: Emirates
    An Emirates A380 in flight. Photo: Emirates
  • Emirates Premium Economy is the airline's newest cabin class. DXB Terminal 3, Dubai. Chris Whiteoak / The National
    Emirates Premium Economy is the airline's newest cabin class. DXB Terminal 3, Dubai. Chris Whiteoak / The National
  • Skydiver and stuntwoman Nicole Smith-Ludvik stars in Emirates' latest ad campaign at the top of the Burj Khalifa. Emirates
    Skydiver and stuntwoman Nicole Smith-Ludvik stars in Emirates' latest ad campaign at the top of the Burj Khalifa. Emirates
  • Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai, takes a tour of the Emirates A380 airliner during the opening ceremony at Dubai Airshow in November 2013. AFP
    Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Ruler of Dubai, takes a tour of the Emirates A380 airliner during the opening ceremony at Dubai Airshow in November 2013. AFP
  • Airbus workers celebrate in front of the Airbus A380 on July 28, 2008 in Hamburg, Germany. The world's largest passenger liner was built for Emirates airline. Getty Images
    Airbus workers celebrate in front of the Airbus A380 on July 28, 2008 in Hamburg, Germany. The world's largest passenger liner was built for Emirates airline. Getty Images
  • Terminal 3, the exclusive terminal for Emirates airline, was opened in 2008. Photo: Emirates
    Terminal 3, the exclusive terminal for Emirates airline, was opened in 2008. Photo: Emirates
  • Emirates chairman, Sheikh Ahmed bin Saeed Al Maktoum, in November 2001, with a model of the Airbus A3XX superjumbo jet (now known as the A380) at the Farnborough Air Show. Reuters
    Emirates chairman, Sheikh Ahmed bin Saeed Al Maktoum, in November 2001, with a model of the Airbus A3XX superjumbo jet (now known as the A380) at the Farnborough Air Show. Reuters

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

The details

Heard It in a Past Life

Maggie Rogers

(Capital Records)

3/5

2019 Asian Cup final

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

WRESTLING HIGHLIGHTS
Racecard

6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m

7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m

7.40pm: Handicap (TB) $135,000 (D) 1,200m

8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m

8.50pm: Handicap (TB) $135,000 (T) 1,000m

9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m

10pm: Handicap (TB) $175,000 (T) 2,410m

The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Updated: November 04, 2022, 10:38 PM