The Collection at Festival Centre will play home to more than 170 luxury brands and world-class dining experiences when it opens in 2010, making it one of the world's leading retail destinations.
"The retail experience at The Collection will be second to none," explained Philip Evans, director of retail leasing at Al-Futtaim Group Real Estate, the firm behind the initiative.
"The strategic tenant mix will bring together the most influential and acclaimed names in fashion and hospitality. In line with our vision to deliver excellence we will be seeking new and vibrant retailers to add to this strong mix."
This in turn will serve as a centrepiece for the Dubai Festival City, which currently draws in more than 20 million visitors a year, with this number set to increase significantly as even more shops, hotels and leisure facilities are opened over the next few years.
At present, overseas visitors to Dubai account for nearly 70 per cent of all luxury retail and leisure spending in the emirate.