Abu Dhabi is planning to construct 778,000m² of retail space.
This places the capital on a par with some of the world’s leading cities for shopping centre development.
During 2013, Dubai only offered 35,000m² of retail space, while Abu Dhabi offered 168,000m², placing it in the global top 20 at 18th position.
There is currently an increase in demand for retail space due to the increased economic growth and an increase in the tourist numbers. The major malls show a mere 5% of unoccupied space. This stronger demand from occupiers has pushed operators in Dubai to undertake extensions to existing centres.
The development of shopping centre space is growing globally with most of the activity taking place in China. Surveys have shown that of the 180 countries involved, more than 50% of construction is taking place in China.
Europe’s shopping centre development is currently at a historical low, however many extensions to existing centres are in the pipeline. Of 35 new centres which opened during 2013, 26 were scheduled for Eastern Europe.
10 APRIL 2014, United Arab Emirates