Saturday, Sheikh Mohammed Bin Rashid Al Maktoum announced plans to build the New Mohammed Bin Rashid City within a city, including the world’s largest mall and 100 new hotels.
Mohammed bin Rashid City will be comprised of four areas. The first will be an entertainment and leisure center in collaboration with Universal Studios, targeted at family tourism. The second area will feature the largest shopping mall in the world. It area will surround a park larger than London’s Hyde Park, and 100 new hotels to accommodate visitors. The third will offer the largest area for arts galleries in the MENA region. The fourth area will provide be an integrated entrepreneurship and innovation environment.Dubai Holding and Emaar Properties will be carrying out development. This will be the biggest joint venture in the regional real estate industry. Dubai’s tourism sector is growing by 13% annually, and already at the world’s highest occupancy rate of 82%. Once completed, this complex is expected to attract 6 million visitors per year.
