Business & Finance

UAE’S Industrial Growth Due to Retail Space Development

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Dubai is one of the leaders in the region when it comes to retail market and second in terms of number of International brands present (According to CBRE’s 2017 edition of “How Global is the business of Retail). It is also the third most attractive destination for new businesses.

The UAE retail market is expected to experience a massive boom in near future as around 1.7 million sqm of new retail space is supposed to come online by the end of 2020 or early 2021. This is expected to reduce the pressure on mall-occupancy and rental rates though at present the occupancy is about 95% and Rental Rates are AED 7, 266 per sq.m. per annum.

None the less, UAE being one of the most attractive tour and leisure destinations, its retail industry is growing like never before. In fact it ranks fifth among the target markets in developing countries according to A T Kearney Global Retain Development Index.  This acts as fuel for upcoming retail Real-estate development projects.

Keeping in mind the flourishing market in UAE, Smart-Store Expo is introducing Retail Leasing Pavilion –a trade show focused to highlight latest trends, developments and technologies that would shape the future of the industry. 2018 Smart-Store Expo will feature three key verticals names – Build, Operate and Manage. This platform can be used by real-estate firms to showcase their upcoming project and connect with retailers visiting the show. 

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