Home / Shopping mall frenzy will continue to grow

Shopping mall frenzy will continue to grow

Experts predict expansion of retail jobs in line with mixed-use development spree

Shopping centre development in the GCC will grow by 140% over the next five years.

Investors are also now becoming more strategic and there has been a subtle change in direction — choosing to anchor mixed-use developments — thus inheriting a virtually guaranteed ‘local’ market for the retailers and maximising their own return on investment.

That is the view of Retail City International exhibition director, Franck Dailles, who was speaking prior to the inaugural Retail City, an international real estate conference taking place in Dubai next month.

“The growth in retail developments alone is colossal, but it
is clearly supported by the growth of mixed-use developments,” he said.

“Retail facilities will breathe an enhanced quality of life into these communities producing a win-win situation for the
retailers, the investors and the residents.”

Dailles also referred to the many mixed-use projects being developed at break-neck speed, adding that Dubai leads the way with the likes of Dubai Festival City, Dubai Waterfront,

The Palm developments and what will eventually be home to the world’s tallest building, the Burj Dubai.

The rest of the region is in hot pursuit, with the Pearl-Qatar, The Wave in Oman, Bahrain’s Al Areen project and King Abdullah Economic City in Saudi Arabia.

Rohan Marwaha, exhibition director of Retail City, added:
“In some ways it is an unlikely alliance; in the US and parts
of Europe, major retail parks situated in purpose-built out-of-town developments, were accused of killing the communities in and around the traditional town centres.

“Throughout the GCC, we are witnessing the reverse trend where retail developments are seen as an integral element of these new communities.”

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

CHANNEL AWARD 2018