DUBAI: More shoppers passing through their welcoming doors, sky high occupancy levels and rentals, and waiting lists that will take years to see through. It is a good time to be a mall operator in the UAE.
But the upswing is making it more difficult for new brands to get a look in. “Proximity to key value drivers within malls such as main entrances, main anchors or entertainment districts come with premiums attached,” said Simon Townsend, Business Development Manager at DTZ, the consultancy. “Demand on prime space and enhanced premiums does restrict the number of new brands from entering some of these established retailing hubs.
“However, the volume of retail proposed or under construction is opening up a number of opportunities to enter the market and build a client base before entering more costly locations. Several developers are also trying to encourage new retail brands to provide a wider tenant mix and we strongly believe developments like Citywalk will see not only a mix of retail uses, but a strong number of new brands.”
