The April edition of Jones Lang LaSalle’s MENA House View says that although the retail sector has not experienced the same levels of performance decline as other sectors of the Dubai real estate market, it is still undergoing a period of transition. It highlights a number of new trends that are emerging within the retail sector; the most significant of these include the following:
- End of an era for new supply: The opening of Mirdif City Centre marks the end of an era of wide-scale development of super-regional malls in Dubai. It reflects many of the changing trends underpinning the sector at present;
- More focus on local spending: The market is now adjusting to address the needs of the resident population;
- Attention to value: For retailers and mall owners, heightened competition is prevalent in the market to aggressively capture shoppers’ interests and disposable income.
