Worlds largest shopping mall planned to open opposite MoE. I thought Dubai already had the largest with Dubai Mall, obviously not big enough. Oh and not sustainable enough

'Mall of the World' shopping complex larger than Vatican City planned for Dubai

The mall, measuring 743,000 sqm, will include the world’s largest indoor theme park – covered by a glass dome that will be open during the winter – and a 7km ‘covered street network’.

It will be the centrepiece of “the world’s first temperature-controlled city”,
And the ‘city’ complex, which will include 100 new hotels, will be more than twice as big as the Principality of Monaco.

Awesome.

Just when I didn't think it was possible for an even more idiotic amazing scheme to be proposed in Dubai.

Hopefully they can get it built in time for the Expo


Edit to say really interesting story on the same page of the website.

Arabtec out to 'cut the fat' as 'overpaid' staff released from construction firm

Let me be the first to say I expect Arabtec to go the way of Nakheel and be effectively bust in a year, the stock exchange scam seems to have been an escape hatch for a few.

Bubble

"Arabtec have gone bust"
"Arabtec have no money"
"The top guys in Arabtec fell out with Sorouh so they won't get more work"
"Arabtec have let 800 people go"

Just some of the things I heard last week and the week before.

None of which is interesting or at all of use. Arabtec can swivel, a month basic and 90 day payment terms? No thanks, find your own staff.

Not speaking about Arabtec now but imagine a company in the following scenario:

Taking as many jobs as possible, even ones where it seems that based on the tender price there is no possibility of making a profit.
Taking a horrendously risky project in local currency.
Projects tendered by one company solely, only to find out at contract award that it was a JV with no previous correspondence with the parachuted JV partner.
Rising share price based on expected increased turnover.
Rapid exit of large shareholder at the top of the market.
JV staff salaries/cash flow coming from the other JV partners

What do you think?

I think big problems.

Completely unsustainable model and almost foolish of the developer to put eggs in one basket....unless they know what they're doing to manipulate share price, make loads of cash at someone elses expense, force them to falter on contracts and re-tender to get what they want out of it.

Who knows the real story and the inner workings, whatever happens to a company as you describe is going to be bad news.

I have 23 days left in the ME, sponsor a trip to Dubai for me and I will tell you a lot of interesting (first hand) stories.

I'd be happy to buy you beers.

I can't begin to imagine some of the stories that people in high places have in their locker.

The stuff my mate tells me from a local developer is mental enough as it is.

No suggestion of a start date for this vanity project, let alone a completion date.

I'm still waiting for some one to say "oh good, yet more shops".

Oh good, yet more shops.

Actually, I'd welcome a mall with some original shops. Or a super-mall that isn't that big but has all the good shops. Mirdiff City Centre definitely has a good selection of shops I like...but still misses a couple.

x 2

I am willing to bet 100 aed that this project will
a. never go into the construction phase
b. never be completed......at all

I am starting to hate going to malls now, havent been to any in over a month I think
Maybe I am turning into a grumpy old man but isnt it more fun to sit in a proper restaurant to eat food made specially for you than to eat in a beehive with all that buzzing sound around you and the smells of a thousand types of food?

btw just on a different tangent....proud to announce that 2 years here and still haven't been up that tall building...burj something

It hasn't gone to full design or tender yet so it will be at least 2/3 years before anyone can even give a start date.
Expect it to shrink dramatically when the first quote for the works is given

The project has certainly received a far more positive response at GulfNews.

http://gulfnews.com/business/propert...plan-1.1356086

Masha Allah!! What now awaits us is just nothing close to the most incredible and remarkable projects ever in human history. Everything in the plan seems so well defined and fabulous like a dream being shaped into reality. Welcome to the future everyone & Good Luck Dubai. May Allah keep us blessed all the way through. Ameen!

Mohamed Umran Ubedulla, Abu Dhabi, United Arab Emirates

It is without a doubt that Dubai is truly the number one city in the world. I’m just a regular employee here, nothing fancy, I pay high rents and sometimes go broke too, but just by thinking and realizing that I work and stay here, that makes me so thankful and feel so proud!

Brilliant even the PAE couldn't top that lot