The retail market is becoming so congested in Dubai some malls should be redeveloped or torn down, warns Jones Lang LaSalle, a global property specialist.
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Craig Plumb, the company's head of research in the Middle East and North Africa, said about 30 per cent of malls in Europe were obsolete and Dubai was also in danger of reaching saturation point in the next few years.
"There will be a significant proportion of retail that needs to be repositioned, knocked over or a combination of the above," he said. "Some of this is just the maturing of the market. In the UK and Europe there's been lots of malls converted to other uses."
His warning comes on the back of news that the Al Habtoor Group is to demolish the Metropolitan Hotel, one of the oldest in Dubai, and redevelop the space next year.
Mr Plumb said some malls will eventually have to follow that lead.
Retail space has increased 60 per cent in Dubai since 2005, according to Jones Lang LaSalle, and the per capita mall space is almost double the level in Abu Dhabi, which has the second-highest rate in the Middle East. The rapid development of the retail and hospitality sectors has helped to elevate Dubai to a major global destination for shopping and tourism, but the speed of the expansion has also left some older developments behind.
This is particularly prevalent in retail where, following the success of Dubai Mall and Mall of the Emirates, many smaller, older players are having to quickly adapt.
Al Ghazal Mall, a shopping centre in Satwa, lies only a few kilometres from Dubai Mall and has been hit by falling numbers of visitors - and having to offer much-reduced rents - in the past few years.
The retail mix at Al Ghazal is being completely reworked, with fewer but bigger stores that serve the community, including a dentistry, a doctor's surgery, an eye specialist, a phone-repair shop and a Lebanese restaurant.
A Carrefour Market convenience store was added 18 months ago. "When you look at Dubai, it now has fantastic, huge shopping centres, so we thought 'how can we compete with those?'" said David Zlatarich, the head of property management at Colliers International, which leases Al Ghazal Mall. "We thought that we should turn it into a community-service centre, with retailers that are providing a service."
He said the revamped centre would be 100 per cent leased in the next few months.
On the contrary, in order to compete with the big regional malls, some of the older centres are actually increasing space, rather than repositioning stores or downsizing.
Al Ghurair Mall, built in 1981 and Dubai's oldest mall, is spending Dh2 billion (US544 million) in nearly doubling its size and adding a hotel.
BurJumanmall, meanwhile, is increasing its space by 25 per cent.
rjones@thenational.ae
$1,000 award for 1,000 days on madrasa portal
Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
UAE currency: the story behind the money in your pockets
Chef Nobu's advice for eating sushi
“One mistake people always make is adding extra wasabi. There is no need for this, because it should already be there between the rice and the fish.
“When eating nigiri, you must dip the fish – not the rice – in soy sauce, otherwise the rice will collapse. Also, don’t use too much soy sauce or it will make you thirsty. For sushi rolls, dip a little of the rice-covered roll lightly in soy sauce and eat in one bite.
“Chopsticks are acceptable, but really, I recommend using your fingers for sushi. Do use chopsticks for sashimi, though.
“The ginger should be eaten separately as a palette cleanser and used to clear the mouth when switching between different pieces of fish.”
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Full Party in the Park line-up
2pm – Andreah
3pm – Supernovas
4.30pm – The Boxtones
5.30pm – Lighthouse Family
7pm – Step On DJs
8pm – Richard Ashcroft
9.30pm – Chris Wright
10pm – Fatboy Slim
11pm – Hollaphonic
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
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Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Ovasave%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20November%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Majd%20Abu%20Zant%20and%20Torkia%20Mahloul%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Healthtech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20Three%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20%24400%2C000%3C%2Fp%3E%0A
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
