Mall developers should be able to remove underperforming shops after their leases expire, say retail executives who are pushing for new legislation to help boost the sector.
Shahram Shamsaee, the senior vice president of shopping centres at Majid Al Futtaim, said there were few rules in the UAE on retail leases, making it almost impossible for developers to replace underperforming shops even after the lease expired.
"It is legislation that is standard in North America, Australia, the Far East and many other MENA countries," Mr Shamsaee said last week at a retail forum hosted by the Dubai School of Government. "It would be good for retailers because retailers want to come into the region, but the biggest challenge is to get the right space."
The industry also wants reliable consumer spending data like that available in western markets. While the country's retail sector has begun to rebound from the global downturn, these measures could help it further, retailers say.
Michel Fattal, the chairman of Armada Distribution, which distributes chocolates and beverages in the UAE, said if the Government or a reliable industry body could provide retail-specific data it would help guide future growth.
"We lack data to better analyse the retail environment and I think something that can be done in this respect is probably to engage in public-private discussion," Mr Fattal said.
"We could put together a kind of index or create an institute that would oversee various retailers and provide data as [has been] done in western countries."
aligaya@thenational.ae
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Zayed Sustainability Prize
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Uefa Nations League: How it works
The Uefa Nations League, introduced last year, has reached its final stage, to be played over five days in northern Portugal. The format of its closing tournament is compact, spread over two semi-finals, with the first, Portugal versus Switzerland in Porto on Wednesday evening, and the second, England against the Netherlands, in Guimaraes, on Thursday.
The winners of each semi will then meet at Porto’s Dragao stadium on Sunday, with the losing semi-finalists contesting a third-place play-off in Guimaraes earlier that day.
Qualifying for the final stage was via League A of the inaugural Nations League, in which the top 12 European countries according to Uefa's co-efficient seeding system were divided into four groups, the teams playing each other twice between September and November. Portugal, who finished above Italy and Poland, successfully bid to host the finals.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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