This is the best mall in Eilat, hands down! It features a variety of boutique shops and specialty merchandisers, as well as a food court and a movie theatre. It is an enclosed mall, so it's the perfect escape should it happen to rain in the desert or if it is unbearably hot outside. Security getting into the mall is a bit tight, so don't be surprised when you are asked to step through a metal detector and open your bag. It's for your protection!
Mall Hayam is located directly across from the New Tourist Center and is midway between the North Beach and South Beach areas. It is multi-level, with the food court and cinema on the top level. The mall is open on the weekend (Friday until 6pm and open again Saturday at noon), so no fears of being locked out over Shabbat.
Examples of stores and restaurants you can find at Mall Hayam: Swatch, Superpharm (cosmetics and pharmacy), Disc Club (like Sam Goody), McDonald's, Sbarro, El Gauchito, and Steimatky (books). Really, if you are looking for *anything* you can find it here. The only thing missing is a huge amount of souvenir merchandise. Most of the merchandise is upscale, so be prepared for prices that are comparable with the US or Western Europe.