Abu Dhabi’s Mall of Al Ain to start expansion work this year

Abu Dhabi investment group Mair said redevelopment and expansion work at the Mall of Al Ain will begin in the fourth quarter of 2026.

The project will be carried out in phases by Makani Real Estate, Mair’s commercial real estate arm.

The mall, which opened in 2021, was acquired by Mair in 2024, the company said in a statement to the Abu Dhabi Securities Exchange.

The mall’s exterior façade will be completely transformed, and the existing ice rink will be expanded and relocated.

The mall will remain fully operational throughout the construction period, the statement added.

The redevelopment cost was not disclosed.

Retail rents in Abu Dhabi remained stable in the first quarter of 2026, according to global consultancy JLL. Prime regional malls performed best, while the emirate’s retail stock held steady at 3 million square metres, the report said.

In its first-quarter 2026 financial statement, Makani Real Estate reported year-on-year revenue growth of 11 percent, and said its total leasable area reached 475,000 square metres by March 31. Net profit for the quarter rose 0.8 percent year on year to AED52 million.

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In January, Mair acquired warehouses in the Kezad logistics park for AED295 million ($80 million).

The company’s shares closed nearly 1 percent higher at AED0.995 on Thursday, but are down almost 12 percent year to date.

Al Ataa Investment owns a 6.5 percent stake in Mair, according to ADX data.