high rents in top dubai malls may stifle retailers
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

High rents in top Dubai malls may stifle retailers

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice 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.”

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 09:54 2018 Wednesday ,24 January

'Friendly and kind' N. Korean skaters

GMT 09:36 2017 Thursday ,07 December

Heidy Karam’s contract to present talk show close

GMT 10:50 2012 Friday ,20 January

Dusty weather expected in UAE on Friday

GMT 09:35 2018 Saturday ,13 January

New Zealand bat first in third ODI against Pakistan

GMT 10:48 2017 Saturday ,23 December

Meryl Streep's brand under threat

GMT 06:53 2017 Thursday ,11 May

17th Doha Forum To Begin Sunday

GMT 10:30 2017 Thursday ,23 November

Reports underline proliferation of weapons in Arab world

GMT 07:46 2017 Monday ,30 October

Catch it early, treat it early and move on

GMT 08:05 2015 Tuesday ,17 February

Conan O'Brien is first late night host to film in Cuba

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice 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 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice