Most Expensive Shopping Mall?

Burj Promenade

The Bawadi mall, part of the Bawadi project in Dubailand, Dubai, will be the world’s most expensive shopping mall if completed.  So what is the hold up?  I wonder if investors are sweating puddles in their luxury cars and exotic rental cars waiting for the verdict.


Bawadi Mall

Original plans for the 4-million square-foot shopping mall extravaganza came with a $2.7 billion dollar price tag and 2012 completion date.  Since that point, progress has been stalled to snail speed thanks to the financial crisis. 

It certainly seems that Dubai has been hit hard by the worldwide economic turndown, as million and billion dollar investments in the region have been coming to standstills over the past several years and investors timidly pullout, leaving chaos in their wake.  Well, it seems that all markets that enjoy the bubble that Dubai has eventually endure a deflation, and that what goes up must come down.

Bawadi Mall

So if the Bawadi mall and its $2.7 billion dollar price tag make it through, it will surpass the $1.3 billion dollar 9.58-million square-foot New South China mall in Dongguan, China.  The Bawadi mall is to be even larger than the 12.1-million square-foot Dubai mall, which was part of Dubai’s $20 billion dollar Burj Khalifa complex. 

Right now the luxury auto markets and other upscale markets are flourishing in China and India, as Dubai seems to struggle.  Ferrari World Abu Dhabi has even sold a mere three months after its grand opening.  What will become of the world’s most expensive shopping mall?

Dubai mall

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