Twenty years ago, when the first shopping malls were opening in Dubai, no one could have imagined where the retail industry was heading. Maybe the visionaries had plans for another mall or two, but the 20 million square feet (1.8 million square metre) of retail space that exists today must then have been only an audacious possibility for a small city, albeit one that had potential.
Issues of strategic leasing followed the growth of retail business. Which brands should be showcased at the mall? Of what origin and region should be the brands being brought in? Where did the local demand lie?
In recent years, retailers enjoyed another advantage from setting up base here. As business thrived, retailers saw opportunities to expand into neighbouring countries, according to Eisa Adam Ebrahim, the chairman of the Dubai Shopping Malls Group (DSMG).
"We have a flow of brands coming to Dubai and it has become the gateway for the whole region," he said, adding that many homegrown brands have successfully crossed borders and have established themselves in the whole region.
As the city's tourism began to thrive, bringing in visitors from various countries and of different tastes, the variety of retailers grew as well. Everything from the not-so-well-known brands to the internationally acclaimed names began dotting the malls and elite locations, such as five-star hotels.
Source - Gulfnews
Posts
0 Interactions:
Post a Comment