The Mall of the World which will be known as the world’s largest shopping mall will see construction beginning from first quarter 2015.
Dubai Holding is now selecting particular consultants and expects to start work on the first phase of the project. The 48-million square feet, climate-controlled advancement was revealed in the second half of 2014 and will be situated within Mohammad Bin Rashid City.
The project will accommodate a shopping mall with an area of 8 million square feet, the world’s biggest theme park, which will be roofed by a glass arena that will be open during the winter months, a wellness dedicated area, a cultural celebration district and a wide range of hospitality options comprising 20,000 hotel rooms.
When finished, the development is estimated to become a year-round destination, receiving approximately 180 million guests yearly, according to the developer.
In June, the developer will need Dh25 billion to construct an entertainment zone over a period of 10 years. Dubai will be organizing Expo 2020 from October 2020 to April 2021 and in the inaugural to the event just about 277,000 new employments will be generated.
Construction projects are approximated to make a full amount of Dh1.1 trillion ($315 billion) in the UAE this year. $212 billion worth of projects are under construction when the report studied the market in May with the construction industry is anticipated to arrive at full capacity as social infrastructure spending increases and mega projects currently being designed are brought ahead.
Major projects under construction are The Lagoons, Bluewaters Island, MBR District One, Dubai Water Canal, Dubai Adventure Studios etc.
The most recent development to restart work was Limitless’ Downtown Jebel Ali, its 200-hectare mixed-use area. The master developer tendered a deal worth Dh19.5 million for infrastructure design and supervision services for Zone 2, 3 and 4.