New Malls Coming to Dubai: How Upcoming Retail Mega Projects Will Transform Real Estate Investment

Dubai is entering a new phase of urban evolution where retail, lifestyle, and real estate are merging into powerful investment ecosystems. Over the next few years, especially leading into 2026, the city will welcome a new generation of mega malls and lifestyle retail destinations that go far beyond traditional shopping.

These projects are not just about retail space. They are economic anchors, designed to increase footfall, boost tourism, raise surrounding property values, and create long-term rental demand. For real estate investors, this wave of new malls represents a major opportunity to invest before values peak.

At Zavora Group, we track how large-scale infrastructure and lifestyle projects historically impact property markets. The data is clear: where world-class retail goes, real estate values follow.

Below is a deep dive into the most important upcoming malls in Dubai and why they matter for investors.

Dubai Square—The Future of Global Retail

Developer: Emaar Properties

Location: Dubai Creek Harbour

Project Value: AED 180 Billion

Expected Opening: Mid-to-Late 2026

Dubai Square is set to redefine global retail. Planned to be three times the size of Downtown Dubai, this mega-development will become one of the largest shopping and entertainment destinations in the world.

Unlike traditional malls, Dubai Square is designed as a fully integrated urban ecosystem, featuring:

  • Retail districts
  • Entertainment zones
  • Cultural spaces
  • AI-powered shopping experiences
  • Dubai’s first large-scale drive-through mall concept
  • EV-friendly infrastructure

Investment Impact

Dubai Square will act as the economic heartbeat of Dubai Creek Harbour, driving:

  • Strong capital appreciation in nearby residential projects
  • High short-term rental demand
  • Premium pricing for waterfront and skyline-view units

Historically, Emaar-led retail hubs (Dubai Mall, Marina Mall) have delivered some of Dubai’s highest-performing real estate returns—and Dubai Square is positioned to exceed them.

Dubai Bay Mall—The New Retail Hub of Dubai South

Developer: Dubai South Properties

Size: 200,000 sq. ft

Location: Central Dubai South

Status: Under Development

Dubai Bay Mall will serve one of Dubai’s fastest-growing investment corridors, Dubai South, home to:

  • Al Maktoum International Airport (DWC)
  • Logistics free zones
  • Expo City legacy developments

The mall is designed with:

  • Panoramic lagoon views
  • Open-air walkways
  • Rooftop retail and dining
  • Community-focused design

Investment Impact

Dubai South is transitioning from an infrastructure zone to a full-scale residential and lifestyle hub. Retail projects like Dubai Bay Mall:

  • Increase livability.
  • Reduce dependency on older city centers
  • Drive long-term tenant retention

Properties near Dubai South's retail infrastructure are expected to see above-average appreciation as the airport expansion nears completion.

Villa Square – Community Retail with High Rental Stability

Developer: KeyMavens Group

Size: 124,000 sq. ft

Location: Wadi Al Safa 5

Completion: Q3 2026

Villa Square is a community-centric lifestyle mall designed to serve low-density villa neighborhoods. Inspired by Spanish architecture, it blends:

  • Retail
  • Dining
  • Wellness
  • Leisure spaces

Unlike mega malls, Villa Square focuses on daily-use convenience, which is critical for long-term residential demand.

Investment Impact

Community malls:

  • Increase villa rental demand
  • Reduce vacancy rates
  • Support consistent rental income rather than speculative spikes

For investors focused on stable yields, retail-supported villa communities consistently outperform areas without lifestyle infrastructure.

Liwan Mall—A New Lifestyle Destination in Dubailand

Developer: KeyMavens Group

Size: 113,674 sq. ft

Location: Wadi Al Safa 2

Opening: Second Half of 2026

Liwan Mall is positioned as a mid-scale luxury lifestyle mall, offering:

  • Dining terraces
  • Retail promenades
  • Family-focused entertainment

Dubailand continues to attract:

  • End-users
  • Young families
  • Long-term tenants seeking affordability with lifestyle access

Investment Impact

Retail projects like Liwan Mall:

  • Strengthen Dubailand’s transition into a self-sustaining residential zone
  • Increase resale liquidity
  • Support mid-market appreciation with low volatility

Sobha Mall—Premium Retail Meets Master-Planned Living

Developer: Sobha Realty

Investment Value: USD 210 Million

Size: 339,000 sq. ft

Location: Sobha Hartland

Completion: Late 2026

Sobha Mall will become the luxury retail centerpiece of Sobha Hartland, one of Dubai’s most premium master-planned communities.

Key highlights include:

  • Curated luxury retail
  • Cultural attractions
  • Fine dining experiences
  • Integrated community access

Investment Impact

Sobha Hartland already commands premium pricing due to:

  • Central location
  • High construction quality
  • Strong brand trust

The addition of a luxury mall will:

  • Further elevate property values
  • Strengthen demand from high-net-worth tenants
  • Increase long-term capital appreciation potential

Ghaf Woods Mall – Retail Meets Nature

Developer: Majid Al Futtaim

Project Value: USD 4.2 Billion (entire development)

Location: Sheikh Mohammed Bin Zayed Road

Ghaf Woods Mall introduces a “mall in the forest” concept, blending:

  • Nature-integrated retail
  • Dining
  • Entertainment
  • Wellness-focused architecture

This aligns with Dubai’s future urban strategy of green living, walkability, and sustainable communities.

Investment Impact

Nature-integrated developments are increasingly attractive to:

  • European buyers
  • Long-term residents
  • Wellness-focused tenants

Such projects typically enjoy:

  • Higher tenant retention
  • Lower volatility
  • Strong long-term appreciation

Why New Malls Matter for Real Estate Investors

From an investment perspective, new malls create three powerful effects:

1. Capital Appreciation

Retail hubs increase land value, leading to price growth in surrounding residential assets.

2. Rental Demand

Tenants prioritize walkable, lifestyle-rich locations, boosting rental yields.

3. Exit Liquidity

Properties near established malls sell faster and with stronger buyer competition.

This is why smart investors enter markets before retail infrastructure is fully delivered.

Zavora Group’s Strategic View

At Zavora Group, we don’t sell projects; we analyze urban growth patterns.

Our approach focuses on:

  • Identifying properties near upcoming lifestyle infrastructure
  • Securing early-stage pricing before value acceleration
  • Aligning investments with Dubai’s long-term master planning vision

Retail-led developments have historically produced some of Dubai’s strongest real estate returns, and the 2026 retail pipeline is one of the most powerful the city has ever seen.

Conclusion: Dubai’s Retail Boom Signals the Next Investment Cycle

Dubai’s upcoming malls are not just shopping destinations; they are economic engines shaping the next decade of real estate growth.

For investors, this represents a clear message:

Follow infrastructure, invest early, and position ahead of demand.

With strategic guidance and data-driven insight, the next wave of Dubai’s retail expansion can translate into long-term wealth creation

 

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