By Cleofe Maceda, Senior Reporter www.gulfnews.com
Dubai: With its shopping scene dominated by mega malls and shopping complexes, Dubai easily takes the cake as the region’s leading retail destination.
A new Colliers International report released this week showed that Dubai has more shopping space per person than any other market in the region, with its supply topping 2.5 million square metres of gross leasable area (GLA), the highest among major markets. Dubai’s retail space has recently expanded by 2 per cent from last year, following the opening of City Walk and the expansion of Al Ghurair Centre.
Colliers’ report looks at the key undercurrents shaping the retail markets within the Middle East and North Africa (Mena) region, and provides a quick look at seven major cities that are considered “the most active and promising”.
Based on the report, Dubai’s close competitor in terms of shopping space is Riyadh in Saudi Arabia, which has an estimated GLA amounting to 1.5 million square metres. Following closely behind is Jeddah, with 1.1 million square metres. More info
