Dubai Holding remains fully committed to developing Mall of the World

Dubai, 31 August, 2016

Ahmad Bin Byat, Vice Chairman and Managing Director  of Dubai Holding, today announced that Dubai Holding has taken the decision to relocate Mall of the World to a site on Sheikh Mohammad bin Zayed Road, where the project's positive tourism contribution can be fully realised.

Ahmad Bin Byat, Vice Chairman and Managing Director of Dubai Holding, added: "Tourism remains a major part of Dubai's diversification strategy and Mall of the World will be a critical part of that vision. Dubai Holding is committed to developing Mall of the World, a major retail and leisure destination in the region, and believes that the new location on Sheikh Mohammad bin Zayed Road, will be an outstanding home for the project, as it will allow Dubai Holding to further expand as needed it in the future according to market needs."

Mall of the World, will now undergo extensive planning to become a major retail and leisure destination.

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About Dubai Holding
Dubai Holding is an investment conglomerate with operations in 24 countries employing over 22,000 people. Established in 2004, Dubai Holding today manages an AED 130 billion portfolio of assets, which supports the strong development of Dubai's non-oil economy across sectors including; tourism, hospitality, real estate, media, ICT, education, design and trade. Its portfolio includes TECOM Group, which manages 11 of Dubai's most successful business communities; Jumeirah Group, the hospitality arm which owns and operates 22 hotel developments in 10 destinations in 9 countries; Dubai Properties Group, one of the largest fully integrated and community development business in Dubai; Family Entertainment and New Media, which implements a strategic plan to develop new family destinations and further grow digital media business lines.

Dubai Holding's current project pipeline will add significantly to the Emirate's portfolio of landmarks. This includes Mall of the World, all-season city district comprising the world's largest retail network; and Dubai Creek Harbour, a joint venture with Emaar Properties to build a futuristic waterfront city at The Lagoons. Dubai Holding plays an influential role in delivering on Dubai's economic diversification strategy and initiatives such as Tourism Vision 2020, Dubai Smart City, Dubai Innovation Strategy, Dubai Industrial Strategy and Capital of Islamic Economy.

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© Press Release 2016