Dubai’s retail world has changed a lot over the years, especially with the coming of big shopping centers and fancy malls. Through all this, Lamcy Plaza, once a popular local mall, is still remembered fondly by many. This well-known shopping center, in the Oud Metha area, was recently sold at auction for AED 188.7 million ($51 million). This sale is a key moment in the mall’s history.
Lamcy Plaza first opened its doors in 1997 and quickly became a popular destination for residents in Oud Metha and nearby communities. The mall featured five floors with a wide selection of over 150 stores, a movie theater, a large supermarket, and a variety of dining options. Its convenient location and diverse offerings made it a favorite shopping spot for both families and individuals.
In March 2017, tragedy struck when a fire broke out within the mall. The blaze led to extensive damage, forcing the mall to close its doors indefinitely. While the exact cause of the fire was never publicly disclosed, the incident marked the beginning of a prolonged period of uncertainty for Lamcy Plaza. Despite initial assurances that the mall would reopen within a few months, the years that followed saw multiple failed attempts to revive the property. After the fire, they tried selling the property at auction a few times, but couldn’t find a buyer. The first auction in 2024 started at AED 210 million, and they later lowered it to AED 185 million. Even then, no one bid. It looks like it’s going to be hard to revive the mall with the retail market changing so quickly.
The property was re-auctioned on Emirates Auction in August 2025, starting at AED 185 million, but there were no takers. It was listed again in September 2025 and eventually sold for AED 188.7 million. The buyer remains unknown. This sale may point to renewed interest in the property and suggest it still holds value.
Lamcy Plaza is up for sale as Dubai’s retail scene recovers. A strong local economy and more tourists are helping retail businesses do well. Yet, smaller malls such as Lamcy Plaza struggle to keep up with bigger, newer shopping centers.Those in the know say whoever buys Lamcy Plaza might want to fix it up to suit what shoppers want now. This could mean sprucing up the building, getting different kinds of stores, or changing how some parts of the mall are used. Updates like this could get the place hopping again and bring back shoppers. Lamcy Plaza is fondly remembered by lots of Dubai folks. It was more than just a mall; it was a place to meet up, where families spent time together, and where people made memories. When it closed in 2017, the community really felt the loss, which only got worse as time went on.
Now that the property is starting something new, people are hoping Lamcy Plaza will find its place in Dubai’s retail scene again. The AED 188.7 million sale of Lamcy Plaza is a game changer for the building. It reflects the current state of Dubai’s property market, with both its difficulties and opportunities. Hopefully, the new owners can breathe new life into Lamcy Plaza and attract shoppers again.
