The Springs Souk

New Store Opening

It is our pleasure to announce the opening of our new Flormar store at The Springs Souk, Dubai. Visit us for safe shopping experience and also grab your Flormar faves! A BIG thank you to Flormar team who made this possible despite the current challenges! Good luck to our team! 😊

United Arab Emirates · 12 Sep 2020

Emaar’s 100-shop Springs Souk opens in Dubai

Springs Souk shopping centre has opened in developer Emaar’s master-planned community The Springs, offering residents 100 shops and restaurants. Developed by Emaar Malls, the Springs Souk has now opened for business to serve Emaar’s residential communities such as The Springs, The Meadows, The Lakes, Emirates Hills, The Views, and the Greens. Springs Souk boasts 23,000m² of leasable space across two floors of retail and leisure amenities, which will include a gym and a six-screen Reel Cinemas complex on the first floor. The cinema is yet to open, and a date for completion has not been made public yet. Carrefour Market has been described as the “anchor tenant” of the Springs Souk, which will include a mix of retail outlets and food and drink options. Space is available for kiosks and pop-up shops. Spring Souk is the latest edition to the portfolio of shopping centres developed and managed by Emaar Malls, which is subsidiary of Emaar Properties. Other shopping centre developments under Emaar’s control include the world’s largest shopping site, Dubai Mall, as well as Dubai Marina Mall, Souk Al Bahar, and Gold and Diamond Park. Meanwhile, Emaar Properties told Construction Week that Phase 1 of its master-planned community in Dubai South is nearly 40% complete. During a tour of the building site, general manager, joint ventures, Emaar Properties, Fadi Shaher El Borno, said he hoped the project would hit its 80% completion target by the end of 2018.

22 May 2018

Dubai's Springs Village to get an upgrade

A day after announcing its intention to list its shopping malls and retail subsidiary through a secondary offering of shares, Dubai-based Emaar Properties has confirmed to Emirates 24|7 that it is “evaluating plans to further strengthen the retail and leisure offerings” in Dubai’s popular Springs community. While residents of The Springs/Meadows community within Emirates Living by Emaar already enjoy access to three small retail centres, the master developer is mulling upgrading the existing Springs Village shopping centre opposite the Springs 7 to become a fully-fledged shopping mall. “We are committed to enhance the lifestyle experience of our residents and are evaluating plans to further strengthen the retail and leisure offerings of the community,” an Emaar spokesperson told this website. Currently, the small shopping centre houses the grocery store Choithram, a clinic and pharmacy, besides some food joints, a bookstore and a laundry. Residents of the community have access to two other shopping centres – the Springs Village opposite the Springs 14 and a Meadows Village – which cater to their daily shopping needs. A section of residents that this website spoke with were concerned about a children’s nursery that also operates in the centre, but Emaar has clarified that its plans will not entail relocation of the nursery. “The children’s nursery operations will not be affected,” the spokesperson assured this website. Expansion and development Of late, the area has seen a lot of expansion and development work. For example, The Springs Drive, a two-lane road that used to connect the sub-communities, has now been extended with several lanes on either side. Some residents, however, are not happy with that development. “I preferred the two-lane road. You can see how busy the road has become with some driving very recklessly. “There are drivers who speed at 120km/hr, which is apt for a highway, but not a road that cuts through the community and there are no speed cameras. I was happy when it was more laid back,” said a resident of Springs 11 without wishing to be named. The Emirates Living community is currently composed of four distinct developments, namely The Lakes, The Meadows, The Springs and Emirates Hills. These, while individually unique, share a common landscaping approach that features serene waterways and abundant greenery. The upcoming Hills is the fifth addition to the Emirates Living development. It has been a popular choice among residents who want a laid back lifestyle and have children. Emaar Malls On Saturday, Emaar said it plans to list up to 25 per cent of the Emaar Malls Group equity through a secondary offering of shares. The funds raised through the sale of 25 per cent of the company, estimated to be between Dh8 to Dh9 billion (over $2 to $2.4 billion), will be primarily distributed as dividend to the company’s shareholders. Emaar Malls & Retail is one of the high-growth business entities of Emaar, having recorded full-year 2013 revenue of Dh2.837 billion ($772 million), an increase of over 20 per cent compared to the revenue in 2012. The gross operating profit for the Malls and Retail business increased to Dh2.232 billion ($608 million) compared to Dh1.856 billion ($506 million) in 2012. Mohamed Alabbar, Chairman of Emaar Properties, said: “The proposed listing of Emaar Malls & Retail and the distribution of funds raised through the sale of shares as dividend underlines our commitment and gratitude to our shareholders, including the Government of Dubai, for their unwavering support to the company since its inception in 1997. “Over the years, they have placed their utmost trust in our development strategy of business segmentation and expansion, as we invested our revenues back into the business to ensure long-term value creation. “Today, Emaar’s shopping malls and retail subsidiary is our high-performing business, which derives its growth impetus from the sustained growth of Dubai and its reputation as an international business and leisure hub. “Dubai today is the first choice of destination for more than 2.5 billion people who are less than five hours of flying distance. “Our malls business will benefit from the higher growth rate in spending, increased disposal income and economic activity of these emerging markets.”

16 Mar 2014