In May 2007, plans were first announced for the most expensive shopping mall in the world, the Bawadi Shopping Mall in Dubai. The project was supposed to finish in 2012, but slowed down due to financial setbacks in 2008. Although having been delayed a bit, the incredible structure was initially commissioned for $2.7 billion, making the 4,000,000-square foot supermall the most expensive in the world, far surpassing China’s $1.3 billion New South China Mall.
His Highness Shaikh Mohammed bin Rashid Al Maktoum commented in a press statement that “the launch of the world’s largest shopping area will provide support to the tourism and hospitality industry, which, in return will play a major role in the diversification and development of Dubai’s economy.” Although there is no word as of yet regarding what specific brands will populate the mall, the area is planned to consist of shopping malls, boutique malls, street shopping and an underground shopping area to connect all of the supermall’s parts. If the plans go accordingly, Bawadi will be the world’s longest shopping boulevard, which we can only assume that will be the ultimate luxury destination for the world’s elite.
[Source: luxedb.com]
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