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Local and international retailers now have a plethora of choices when it comes to retail space in the UAE. The launching of a number of retail projects all over the emirates is expected to add several square metres to the existing stock, giving retailers more than enough reason to be near their target markets.
Abu Dhabi’s Yas Mall created a lot of frenzy when it was launched, sending retailers scrambling for slots in the coveted location. Since it is new to the capital in terms of size and offerings and is linked to Ferrari World, retailers find it the best location to open business. The Galleria on Al Maryah Island is the best venue for luxury retailers. Exuding an exclusive atmosphere in a new community that includes hospitality, office and residential projects, it is perfect for the most discerning of shoppers.
Retail companies on the lookout for space in the new real estate hotspots in Abu Dhabi may watch out for malls that will open in the near future including Saadiyat Island’s The District, Al Maryah Island’s Al Maryah Central and Al Reem Island’s Reem Mall.
Meanwhile, Dubai has witnessed a surge in the number of mall launchings. With more shopping venues coming up, contributing to heightened competition, some malls in Dubai (and Sharjah) had embarked on expansion plans to meet consumer needs. These expansions added more retail space in the market, giving retailers more options.
Another trend in Dubai is community malls in self-contained developments, bringing retailers closer to the residents without the need for the latter to take long commutes. Some of the new/under-construction shopping venues are found in Palm Jumeirah and on Al Wasl Road. About 20 more neighbourhood malls are set to open in Dubai in the next five years, good news for retailers that wish to venture into this region.
Then there are also the high-traffic modern souks like Dubai’s Souk Al Bahar and Souk Madinat Jumeirah, and Abu Dhabi’s Souk Central Market and Souk Qaryat Al Beri where sellers can showcase their collections.
• Neighbourhood shopping centres have become a trend in Dubai
• Along with huge malls, about 20 community malls are set to open
• Malls will open in Abu Dhabi’s new property hotspots in 2017-2018
Source: Ellen Joyce Soriano, Special to Properties
The writer is a freelancer