Retail - Donnerstag, Januar 22, 2009 20:08 - 2 Comments

Dubai malls rental rates face ‘40% correction’

Dubai has one of the largest collections of malls per capita in the world, but concerns about oversupply in the emirate’s retail sector are beginning to grow amid the global financial crisis.

The retail sector in Dubai has grown rapidly in recent years, boosted by rising household consumption, an affluent population, and a booming tourism industry.

The emirate now accounts for more than 50% of the total retail space across the UAE, and until recently its malls enjoyed extremely high footfalls, with the Mall of the Emirates alone averaging two million visitors per month. Continue…