Dubai, Abu Dhabi continue to be mall magnets – ZAWYA

Dubai, Abu Dhabi continue to be mall magnets – ZAWYA

Retail Hub: Dubai, Abu Dhabi continue to be mall magnets | ZAWYA MENA Edition HomeBusinessArticleRetail Hub: Dubai, Abu Dhabi continue to be mall magnets Cities' status as economic hubs, spending power keep attracting international brands    Image used for illustrative purpose. Saudi women use their smartphones in Dubai Mall in Dubai, United Arab Emirates, December 29, 2018.Dubai and Abu Dhabi are recording high retail densities compared to mature global markets and are inching closer to the supply levels witnessed in the United States, according to a new study.Data showed that the two UAE cities have a retail density per capita of 1.5 million sqm and 1.4 million sqm, respectively, in 2018-19 compared to 2.1 million sqm in the US. The two emirates have a higher retail density per capita than Australia, the UK, Japan, Riyadh City, France, Spain, Italy and Germany, according to global consultancy CBRE.Dubai is expected to see a 8.9 per cent increase in gross leasable area (GLA), from 4.9 million sqm in the first half of 2019 to 6.9 million sqm by 2023, while Abu Dhabi will see a 6.5 per cent rise from 2.8 million sqm to 3.6 million sqm during the period.Data showed that the