In Dubai, the largest shopping center in the world will be built

Dubai - A hotel and entertainment complex will be built in Dubai, which will include the largest shopping center in the world. The latest version of the "Mall of the World" project plans a shopping area covering 743,000 m², announced Dubai's Prime Minister Sheikh Mohammed bin Rashid Al Maktoum on Saturday.
The plans for the giant shopping center were first introduced by the emirate 18 months ago. The Sheikh's announcement indicates that the construction of the project will start soon, reported Reuters. The Prime Minister did not specify when the project is expected to be completed or how much it will cost.
"The project will be built in phases in line with the gradual development of family tourism in Dubai," said Dubai Holding, which is the personal investment vehicle of Sheikh Mohammed.
The shopping center will be connected by seven kilometers of promenades to an amusement park, cinemas, a hundred hotels, and other accommodation facilities. The entire complex will be able to accommodate 180 million visitors annually.
Dubai has still not fully recovered from the debt crisis it fell into five years ago after the collapse of real estate prices. The International Monetary Fund warned the emirate that a flood of new real estate projects could trigger another cycle of boom and bust. However, local officials believe that this time they will be able to manage the risks.