Malls - Freitag, August 8, 2008 17:51 - 0 Comments

Overly ambitious malls cause for setbacks

DUBAI // Grandiose retail construction projects are becoming “too ambitious,” leading to setbacks and structural problems, as well as headaches for retailers looking to fill the malls, industry insiders have said.

“It is a resource issue,” said Nicholas Maclean, the managing director for CB Richard Ellis, Middle East, one of the world’s largest property consultants. “Some developers are not delivering on schedule because there is a lot of construction to be done and you need a lot of people to do it.”

The delayed completion date of several major developments, including those in Dubai’s new “downtown” district, has been raising concerns about the city’s ability to sustain so many projects on such a large scale. Continue…