01 December 2017

The UAE has the second largest pipeline of shopping centres under construction in the Europe, the Middle East and Africa (EMEA) region, according to leading global real estate advisor CBRE.

A total of 1 million sq m of new shopping centre space was completed across the EMEA region in the first six months of the year with a further 11.1 million sq m of new space currently under construction, stated CBRE in its report.

Turkey, UAE and Russia are the most active countries in terms of shopping centre development accounting for more than 50 per cent of total development under construction in 2017, said the expert.

According to CBRE, the UAE has just under 2 million sq m of space currently under construction with Dubai accounting for the majority of upcoming developments in the country. With an increasingly competitive retail landscape, new schemes coming onto the market are trying to differentiate themselves by providing amenities and new experiences that are difficult to replicate online. Meydan One Mall, for example, is expected to include more than 100 food and beverage outlets, the world’s largest indoor ski slope and a luxury brand quarter, said the expert.

Mat Green, the head of research and consulting, CBRE Middle East, said development activity in Dubai’s retail sector remains buoyant with approximately 1.0 million sq m of gross leasable area set to be handed over between 2017 and 2019. 

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