Retail
From The Report: Dubai 2015
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The retail and wholesale sector continues to be the largest driver of the emirate’s economy, with figures for the first quarter of 2014 showing that retail contributed $6.32bn in the first three months of the year, up 4% from the same period in 2013. Major plans were announced in 2014 for the world’s biggest mall, while the number of community-focused malls is also on the rise. Looking ahead, Dubai Expo 2020 is expected to further boost the retail and hospitality sector. Official estimates suggest tourism numbers could double from 10m people staying for three-and-a-half days to 20m tourists staying for four days.

This chapter contains an interview with Colm McLoughlin, Executive Vice-Chairman, Dubai Duty Free.

Articles from this Chapter

Overview

Dubai’s retail sector set to see new malls and attractions
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Footfall numbers, sales figures and consumer confidence indicators all point to solid growth in Dubai’s retail and wholesale sector, the single-biggest driver of the emirate’s economy. Furthermore, plans unveiled in the summer of 2014 look set to take the shopping experience in Dubai to a whole new level. The blueprint for Mall of the World is replete with record-breaking plans: it is set to be the world’s biggest mall, possess the largest theme park under a single dome and host the longest…

Analysis

Lifestyle and shopping convenience converge in Dubai’s new retail facilities
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While Dubai may be renowned for its numerous large-scale shopping centres, a number of the emirate’s big developers are shifting some of their efforts to retail community centres. Indeed, convenience and proximity to residential areas are the value proposition for a number of new retail developments. While Nakheel’s Mall on the Palm will be a 1m-sq-foot complex aimed at luxury shoppers and high-end diners, its Jumeirah Park Pavilion is a very different proposition from the same company. Anchored…

Analysis

Two of Dubai’s retailers have recently listed on the local financial market
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In the largest public offering on the Dubai Financial Market (DFM) in seven years, Emaar Properties raised Dh5.88bn ($1.6bn) with the initial public offering (IPO) of its malls division, Emaar Malls Group (EMG), operator of The Dubai Mall. Shares were priced at the top of the range at Dh2.90 ($0.79) and oversubscribed by 30% for the institutional segment and by 20% for individual shareholders, underscoring investor confidence in both the company itself and the prospects for Dubai’s retail sector.…

Interview

Colm McLoughlin, Executive Vice-Chairman, Dubai Duty Free: Interview
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Interview:Colm McLoughlin With 1m sq metres of new mall space set to be added to Dubai in the coming years, how will existing retail developments be affected? COLM MCLOUGHLIN: This can only benefit the sector, as the supply of retail space is increasing in line with rising demand. Indeed, the most recent studies estimate that retail sales will jump to $151bn by 2015, a 7.85% uptick on the $140bn witnessed in 2011. The surge in tourist numbers is also a key factor. Dubai Mall alone registered…