high rents in top dubai malls may stifle retailers
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

High rents in top Dubai malls may stifle retailers

Arab Today, arab today

Arab Today, arab today High rents in top Dubai malls may stifle retailers

Dubai - Arabstoday

Soaring rents in Dubai’s most popular malls are in danger of stifling the emirate’s retailers, Dubai-based property analysts have said. Smaller firms and entrepreneurs in particular risk being marginalised by high prices, which could prevent them from debuting in the market or increasing their number of branches, experts have said.  “Dubai remains one of the highest costs to retail within the GCC and indeed the regional market,” said Stuart Gissing, a UAE retail property analyst at Colliers. “Many malls and developers are still reluctant to take on a new product that is not perceived as main stream and widely recognised. This situation will suppress smaller brands and more entrepreneurial outlets from flourishing.“Dubai needs to recognise these smaller brands, as collectively, they will contribute to a wider audience.”Dubai, which has spent billions of dollars establishing itself as a prime shopping destination, is home to some of the world’s largest and most iconic shopping malls. Boosted by a high disposable income among locals and a strong tourism industry, the emirate’s retail sector has continued to grow.According to a study by accountancy firm Deloitte, retail sales in 2010 jumped 13.2 percent in the MENA region, making it the only area in the world to post double digit growth.Rents in Dubai’s super malls have accordingly bucked an emirate-wide decline in commercial and residential rates, and in some cases, continued to rise.Analysts say the trend, which is showing no signs of abating, could deter even mid-sized retailers from expanding in the region. “Dubai has to be careful,” said Michael Attwell, a retail analyst from international consultancy Cushman and Wakefield.“If landlords try to overinflate the rents above market value, then it will make it difficult for retailers to trade successfully, and landlords will suffer. It will get to the point where people look at other areas like Abu Dhabi and Qatar.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

high rents in top dubai malls may stifle retailers high rents in top dubai malls may stifle retailers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

high rents in top dubai malls may stifle retailers high rents in top dubai malls may stifle retailers

 



GMT 23:04 2017 Monday ,04 December

Saudi Arabia recalls ambassador to Germany

GMT 02:47 2014 Monday ,17 November

Qatar Library to take part in Conference

GMT 18:17 2018 Friday ,07 September

US Defence Secretary arrives in Kabul

GMT 03:28 2018 Sunday ,21 January

Emirates throws Airbus A380 a lifeline

GMT 15:20 2017 Wednesday ,20 December

Oman Arab Bank launches advanced automation system

GMT 04:56 2017 Thursday ,22 June

ASEAN journalists conclude silk road media journey

GMT 08:08 2015 Thursday ,05 November

UAE media has matured, delivered remarkable successes

GMT 22:37 2016 Thursday ,17 November

Japan aims to increase food exports to GCC

GMT 08:40 2013 Saturday ,02 February

Saladin

GMT 00:12 2016 Sunday ,01 May

December 21 - January 18

GMT 05:35 2017 Wednesday ,25 October

Rio policeman who killed Spanish tourist charged
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday