Future of Lamcy Plaza: Reopen, Redevelop or Demolish After Dh188.7 Million Sale
Ashwini Gambo
Dubai, UAE – After almost eight years of silence, Lamcy Plaza has finally changed hands. The once‑beloved community mall in Oud Metha, which has remained closed since a devastating fire in March 2017, was sold at auction for Dh188.7 million. The buyer has not been publicly disclosed.
The fire that forced its abrupt closure damaged multiple floors, leaving the building in a derelict state. Despite its strong legacy more than 150 outlets, a cinema, hypermarket, and food court offering mid‑market retail offerings when it opened in 1997 Lamcy Plaza never found sufficient investment interest during several prior auctions. Prices were trimmed substantially, yet bidders remained elusive.
Now, speculation is swirling around what the new owner plans to do. There are three broad scenarios under consideration. One is a renovation to revive the mall itself, modernised to today’s retail and entertainment standards while trying to preserve its community
