Dubai-listed Emaar Properties and Dubai Holding, an investment conglomerate, will build a new AED 10 billion ($2.72 billion) mall in Dubai Creek Harbour.
The 750,000 square meters Dubai Square will have more than twice the gross leasable area of the Dubai Mall.
The new mall will also promote "omnichannel retailing" offering customers options to shop via desktop, mobile or at a retail store.
"The project is expected to cost AED 10 billion and half of this will be funded by debt," said Mohamed Alabbar, chairman, Emaar Properties.
The three-level Dubai Square will be home to the Middle East’s largest Chinatown, an events and a waterpark.
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