Gulf Malls Rein In Expansion As Retailers Reel From Coronavirus

40
627

Gulf Malls Rein In Expansion As Retailers Reel From Coronavirus

Mall operators in the Gulf region are delaying new mega-projects as the coronavirus pandemic and low oil prices upend a retail industry built around huge centres catering to tourists and wealthy locals.

Majid Al Futtaim (MAF), the Middle East’s biggest mall operator, said it delayed the launch of its fifth and largest centre in Oman, the 145,000 square-metre (1.5 million sq-ft) Mall of Oman, because retailers did not have the cash at hand to fit out stores.

In Dubai, Emaar Malls halted construction on two projects, according to two sources familiar with the plans. They are a mall near the site of the Expo 2020 world fair, which has been delayed by a year to next October, and a 185,000 square-metre (2 million sq-ft) mall in the Dubai Hills residential area.

Emaar Malls, owner and operator of the world’s largest shopping centre, Dubai Mall, did not respond to a request for comment.

https://www.aljazeera.com

“In malls under construction, timelines are being revisited. This is a fluid situation,” MAF’s Chief Executive Alain Bejjani said. “We will see how it goes and adapt. It will be the case for the coming 12 months.”

I Will Kill You Philippines Duterte Renews Drug War Threat

Luxury malls, featuring international brands and entertainment such as dancing fountains and indoor ski slopes, have been the cornerstone of the oil-producing region’s retail industry, especially during the blistering summer months.

A growing population and steady stream of tourists has seen more projects planned in recent years even as competition intensified and footfall levelled off.

Last year, Alpen Capital forecast the Gulf retail sector to grow from $253bn in 2018 to $308bn in 2023.

Gulf Malls Rein In Expansion As Retailers Reel From Coronavirus

40 COMMENTS

  1. I really like your writing style, excellent information, regards for putting up :D. “You can complain because roses have thorns, or you can rejoice because thorns have roses.” by Ziggy.

  2. I happen to be writing to make you understand of the really good discovery our daughter went through reading through yuor web blog. She came to understand several details, most notably how it is like to possess a marvelous giving style to get the mediocre ones effortlessly know specific grueling matters. You actually exceeded visitors’ expectations. Many thanks for giving such invaluable, dependable, edifying and even cool tips on your topic to Jane.

  3. I am usually to blogging as well as i actually value your content. The write-up has actually peaks my passion. I am mosting likely to bookmark your site and keep checking for brand-new details.

  4. It’s really a great and useful piece of information. I’m glad that you simply shared this helpful information with us. Please keep us up to date like this. Thanks for sharing.

  5. I like the helpful information you provide to your articles. I’ll bookmark your weblog and test again here regularly. I am relatively certain I’ll be told a lot of new stuff proper here! Best of luck for the next!

  6. I just could not leave your site prior to suggesting that I extremely enjoyed the standard information an individual supply for your visitors? Is gonna be back frequently to inspect new posts

  7. Just wish to say your article is as surprising. The clearness in your post is simply spectacular and i could assume you are an expert on this subject. Well with your permission allow me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please keep up the enjoyable work.

  8. We are Daylight Studio, a boutique photography studio in East London available for hire. We are a creative natural light studio space with decorated French walls, lots of props and furniture and massive windows for great natural light. He have a unique selection of chairs, fabric backgrounds and a sofa for your next natural light photography project. The studio is great for fashion, portrait and commercial photography and if natural light photography studio is not your thing we have a lot of lighting equipment available for you as well and that includes studio strobe lights with various modifiers and LED constant lights for video production. We also have facilities for e-commerce photography. Please see the studio’s gallery here.

  9. I like the valuable information you provide in your articles. I’ll bookmark your weblog and check again here frequently. I am quite sure I’ll learn a lot of new stuff right here! Good luck for the next!

  10. Nice post. I was checking constantly this blog and I am impressed! Very helpful info particularly the last part 🙂 I care for such info a lot. I was looking for this certain information for a very long time. Thank you and good luck.

  11. Thank you for sharing these wonderful articles. In addition, the optimal travel and also medical insurance plan can often reduce those issues that come with touring abroad. A medical emergency can soon become extremely expensive and that’s likely to quickly place a financial impediment on the family’s finances. Putting in place the best travel insurance offer prior to setting off is well worth the time and effort. Thanks

  12. An intriguing conversation is worth remark. I believe that you must create a lot more on this subject, it could not be a forbidden subject but typically people are not enough to speak on such subjects. To the next. Thanks

  13. Thank you for every other informative web site. Where else may I get that type of information written in such a perfect means? I have a challenge that I am just now working on, and I’ve been on the look out for such info.

  14. Good post and straight to the point. I don’t know if this is actually the best place to ask but do you people have any ideea where to hire some professional writers? Thanks in advance 🙂

  15. I do like the manner in which you have framed this specific difficulty and it does supply me a lot of fodder for thought. Nonetheless, coming from just what I have personally seen, I basically hope as the comments pile on that people continue to be on issue and not start on a tirade associated with some other news of the day. Anyway, thank you for this fantastic piece and while I can not really agree with the idea in totality, I value your viewpoint.

  16. I would like to add that when you do not already have got an insurance policy or else you do not belong to any group insurance, you could well reap the benefits of seeking the aid of a health insurance agent. Self-employed or people with medical conditions ordinarily seek the help of any health insurance agent. Thanks for your article.

  17. F*ckin’ amazing things here. I’m very happy to look your post. Thank you a lot and i’m having a look forward to touch you. Will you please drop me a e-mail?

  18. Its like you read my mind! You seem to know a lot about this, like you wrote the book in it or something. I think that you can do with a few pics to drive the message home a little bit, but instead of that, this is magnificent blog. A fantastic read. I’ll certainly be back.

  19. Excellent blog here! Also your web site loads up fast! What host are you using? Can I get your affiliate link to your host? I wish my web site loaded up as fast as yours lol

  20. I will right away clutch your rss as I can not find your e-mail subscription link or e-newsletter service. Do you have any? Please permit me understand in order that I may subscribe. Thanks.

  21. Its like you learn my mind! You appear to understand a lot about this, such as you wrote the ebook in it or something. I believe that you simply can do with a few p.c. to pressure the message home a little bit, but other than that, this is fantastic blog. A fantastic read. I’ll definitely be back.

  22. Hello there! I simply would like to offer a substantial thumbs up for the fantastic details you have here on this article. I will be returning to your blog for more soon.

LEAVE A REPLY

Please enter your comment!
Please enter your name here