According to the Associated Press, the United Arab Emirates is planning to build a new tourism-retail center complete with luxury hotels and a major theme park that will surpass its own Dubai Mall of being the largest mall in the world.
Dubai's ruler, prime minister and vice president, Sheik Mohammed bin Rashid Al Maktoum, did not state when the "Mohammed bin Rashid City" will begin development or how much it will cost to construct.
The New York Daily News reports that the shopping center, dubbed "Mall of the World," will accommodate 80 million visitors a year, as opposed to Dubai Mall with only 62 million. The mall will become the "largest in the world," while its theme park will be "30 percent bigger than Hyde Park of London." Development site is planned for the outskirts of the desert city.
Plans for the project were put off in 2009 due to a debt crisis that hit the emirate. Since then, Dubai’s financial market conditions have improved.
To read AP’s story, click here.