September 16, 2022
Dubai is arguably the shopping mall capital of the world. The evolution of organised retail in Dubai is unprecedented in the market. With world-class projects such as Mall of the Emirates and The Dubai Mall, the market has over 200 centres of various sizes and design typologies. With a growing affluent population and traditionally strong tourism visits, Dubai retail destinations have witnessed strong sales over these years. From 2006 to 2021 period, GLA in modern retail developments in Dubai grew by an annual average rate of 6.32%. The supply of modern retail space in Dubai is already the highest in the GCC on a per capita basis and is set for grow over the next several years. Today we see development focused on community level centres. There are several large-scale malls on hold that will open later than originally planned. McARTHUR Retail Development Specialists have analysed the growth trends and we have seen a cooling of the expansion of retail space due to an abundance of retail space available, lesser retailer demand, Covid-19 bounce back, recovery of the tourism sector, and the impact of e-Commerce. McARTHUR Retail Development Specialists have conducted many such Retail Supply Analyses of retail developments in over 22 countries and multiple markets.
