Our theme, “Beyond Boundaries: Exploring New Horizons,” resonates deeply with the spirit of the season. Just as the summer ignites a sense of adventure, we invite you to join us on a journey of innovation, uncharged possibilities, and bold exploration.
Gracing our cover is a visionary whose name is synonymous with innovation and grandeur - Mr. Ali Sajwani, the Managing Director of Damac Properties. His story, insights, and vision exemplify the essence of pushing beyond limits. Ali shares an overview of Damac Properties and the dynamic markets they actively engage in. He takes us on a compelling journey into the inception of Damac Mall, a venture inspired by a passion for creating unique experiences. Moreover, his excitement is palpable as he unveils “The Lagoons,” an exquisite collection of villas and townhouses that harmoniously blend with tranquil azure lagoons, redefining Dubai’s landscape. Within these pages, discover Mohammad Alawi’s insight into “The Point in Abha,” a project poised to shape the retail scene in Q1 2026. Journey with us to Oman, where Oman Avenues Mall introduces the Avenues Junction, a novel approach to the in-mall dining experience.
Crossing borders, we delve into the heart of Jordan, uncovering the latest developments in The Abdali and The Abdali Mall, offering a window into the dynamic pulse of this thriving retail destination. Our journey takes an exhilarating turn as we proudly present the debut feature of Family Mall in Iraq, a testament to the indomitable spirit of progress.
Explore a wealth of knowledge and insights, ranging from the harmonious synergy of technology and human connection in region’s retail revolution, to the latest trends in placemaking, architecture design, F&B innovations, and the dynamic realm of asset management, loyalty programs, digital presence, and e-commerce in Iran.
We extend heartfelt gratitude to our advertisers namely - Damac Properties, Al Rashid Mall Al Khobar, Azad Properties, Yardi, The Clock Towers, and Sahara Centre. Their unwavering partnership and support are a true testament to the collaborative spirit that fuels the retail industry.
Special acknowledgment is extended to our dedicated contributors, who have generously shared their expertise and insights, enriching this edition with the latest updates and trends in our industry.
Here’s to a month of limitless exploration and a magazine that reflects the brilliance of retail innovation.
Warm regards,
“The only way to achieve the impossible is to believe it is possible.”
Souq
Introducing Souq7: Formerly known as “Prince Miteb’s Market”, the grand launch signifies a promising future for a modernized customer experience. The previous market was the destination for a variety of retail stores. Souq7 continues with the diversification through its 7 zones: food, entertainment, home and furniture, family and entertainment, electronics, automotive, building materials & multi-use zone.
Established in 2017, in Jeddah, Saudi Arabia. Specializing in retail and commercial properties, Azad has excelled in delivering innovation through various real estate activities and projects.
Located in the renowned Al Balad District, The Cornice Center stands still as a beloved iconic destination for shoppers. This cherished property offers a variety of retail such beauty and cosmetic products, fashion and accessories, perfumes, and textiles. Completing its retail offerings, the center also inhibits authentic and ethnic restaurants for the customers to indulge in culinary delights while enjoying the overall shopping experience.
Al
Your go-to destination for furniture, carpets, and decor, strategically located near renowned local commercial centers. The center has been rebranded to reflect the commitment to creating a friendly-customer experience.
Bawabat
Empowering emerging businesses with warehousing, distribution, and logistics services, strategically located in Riyadh's industrial zone. The gate went through a rebranding process, highlighting Azad’s commitment to excellence.
Center 17
The property went through a remarkable transformation, elevating the customer experience.
Al Alam Mall
Retail and residence combined. Seven buildings, a mosque, with ground-floor retail stores and apartments above. Convenience in one location.
1. DAMAC Mall marks your inaugural step intoa comprehensive retail and leisure destination. What sparked the inspiration for venturing into this realm, and should we anticipate similar endeavours from DAMAC in the future?
Our initial entry into the retail domain was realised through the DAMAC Mall, whichwas unveiled in 2021. The concept was born fromthe strategic proximity and the desire to cater to the
specific requirements of DAMAC residents within its vicinity. Excelling as a prominent retail contender within the community mall sector, we are gearing up to unveil further projects in the community mall and retail space, strengthening our presence in this dynamic market. With our new mall opening, we anticipate approximately 1.3 million visitors annually. While our projections will remain robust, we acknowledge that global events can wield an impact on these numbers, introducing potential fluctuations that we vigilantly monitor and adapt to as needed.
2.What will the new mall bring to the master community and neighbourhood communities?
Whatwill be the ratio of retail versus hospitality, leisure, and entertainment within the mall?
DAMAC Mall will be a masterful fusion of retail,hospitality, leisure, and entertainment. The mall’s compositionencompassesadynamicblendof40retail stores, complemented by 10 F&B outlets. Additionally, the mall will feature a sprawling 28,000 sq ft Spinneys supermarket, a 10,000 sq ft Fitness First gym, and a dedicated 10,000 sq ft Medcare medical facility, collectively crafting a multifaceted environment. For the success of community building, connectivity and accessibility stand as cornerstones which will
Our expansion plans are in top gear, and we will continue to look at new businesses and markets to grow our brand to be a trustable and innovative global name.
be apparent in the Mall. Community malls thrive on convenience, and at DAMAC, we meticulously weave our communities with seamless connectivity and easy accessibility as pivotal threads. This ensures that our creations not only inspire but also enhance the lives of those who inhabit them.
3. Clearly, sustaining lasting relationships with tenants and operators is of paramount importance, how do you maintain these allimportant partnerships – and build upon them? Our approach as developers revolves around nurturing a vibrant community and tailoring bespoke encounters that align with our tenants’ needs and the essence of the community itself. We orchestrate a synergy of visual and interactive dimensions, fostering immersive experiences that harmonise seamlessly with this ethos, ensuring a tapestry of emotions that resonate profoundly. Our Customer Relations Management
(CRM) team are regularly interactingwith ourresidents to understand if they need any help or support. Ease of payment methods for their bills/rent ensures hasslefreeliving.Ourteamhasaconstantthrustonimproving together by meeting with them every quarter. Our Customer Happiness Centre is another way to facilitate all the needs of our customers. We are supporting this visionwithour24/7customercentrewithintheDAMAC Mall.
4. Within your projects, what avenues await international brands seeking to establish their presence?
Our canvas extends globally, offering retail and commercial spaces across key destinations such as the UK, Saudi Arabia, Lebanon, Jordan, and Egypt. We provide an expansive platform for international brands
to flourish within our projects, ensuring a worldwide reach and impactful engagement. With our acquisition of global fashion brands such as Roberto Cavalli in 2019 and Swiss jeweller de GRISOGONO in 2020, we expanded our fashion and retail business to diversify our offerings. That was a start, and we continue to look for opportunities and brand acquisitions that reflect our vision and ethos both regionally and globally.
5.DAMAC is now aspiring to be a global leader with projects announced in multiple international markets. Are you actively pursuing expansion into new territories and new businesses, and if you are, which territories interest you the most?
We are rapidly growing, not only in our real estate
endeavours but in various sectors such as fashion, hospitality and even emerging industries such as data centres. Locally, we have launched six new branded residences this year, added two new clusters to our third and upcoming master development – DAMAC Lagoons, as well as announced a series of villa and residential projects across our community portfolio. Our global expansion into the US marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. The launch of our Surfside, Miami project marks a milestone in our global portfolio, which includes our project in London – DAMAC Towers Nine Elms, which was handed over to customers, and our upcoming luxury resort project in the Maldives, currently under development. We are currently developing data centres
in Saudi Arabia and Turkey, and are looking forward to exploring new markets in Europe. This is an exciting time for us at DAMAC, and we have a lot in store.
The key driver behind our success is having a peopleoriented business model and being agile in market circumstances. With our brand associations with Paramount Hotels & Resorts, Cavalli, de GRISOGONO, Versace, and Fendi, we plan to meet market demands for familiar touchpoints, while offering guests distinctive experiences. Having branded associations also adds a layer of trust with our customers because to work with such reputed brands means that we are very well respected and trusted by our partners in the market which translates into trust with our customers.
7.DAMAC Properties is one of the leading real estate developers in the UAE, and one of the most recognisable brands in the Middle East today. Tell us about your successes and plans in the near future.
Since 2002, DAMAC Properties has pioneered the luxury real estate scene in the Middle East. We’ve curated exceptional residential, commercial, and leisure properties across the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Oman, the UK, Canada and the US. With a proud track record of more than 43,700 units successfully delivered and a dynamic development portfolio of around c. 30,000 units in various stages of realisation, we’ve had the good fortune of building a brand of trust. Our expansion plans are in top gear, and we will continue to look at new businesses and markets to grow our brand to be a trustable and innovative global name.
In the midst of Saudi Arabia’s sweeping wave of modernization and transformation, a major development endeavor is underway in the enchanting region of Aseer. Spearheaded by the visionary Mr. Mohammad Alawi, The Point Abha Project emerges as a testament to innovation, seamlessly melding lifestyle, retail, hospitality, and entertainment offerings. Embark on an exclusive one-on-one interview with Mr. Mohammad Alawi as he led us into the dynamic narrative of The Point’s Journey.
Can you share a brief background of yourself and your journey on how did you end up in the shopping centre and retail industry?
My path into the shopping centre and retail industry was unexpectedly intriguing. While my academic background lies in Business Administration and Technology Management, my career trajectory took an unexpected turn. I initially managed airport operations, but destiny led me to the real estate sector, which owned hotels and shopping malls. This transition around 1994 marked the inception of my deep involvement in the retail property and shopping sector. My engagement with industry organizations such as ICSC and
MOHAMMAD ALAWI CHAIRMAN OF THE EXECUTIVE COMMITTEE RED SEA MARKETS COMPANY LIMITEDWith over 30 years of expertise, Mohammad Alawi excels in managing properties, assets, facilities, and shopping malls with top Saudi companies. He has played a major role in positioning Saudi Arabia in key regional and international shopping mall organizations. Mohammad is a sought-after keynote speaker at economic and real estate forums, conferences, and seminars.
MECS+R played a pivotal role, culminating in my election as the first GCC President in 2007-2008. My passion for the industry and continuous learning drove me forward, leading to various roles, including being the Chairman of the Executive Committee at The Point and The Red Sea Markets Company.
The Point Abha Project represents a strategic partnership between the Red Sea Markets for Real Estate Investment Company Asir and The Tourism Development Fund of the Saudi Ministry of Tourism. Could you provide an overview of the project and its significance within Red Sea Mall?
The Point – Abha Project perfectly aligns with Saudi Arabia’s tourism goals and vision. Acquiring the land in 2016, the Saudi government had already established funds to support tourism development as part of Vision 2030. Asir, specifically Abha, has been chosen for a transformative shift in a yearround resort destination, capitalizing on its natural allure –from high mountains to pleasant climate. With governmental support and Asir’s strategic plan, our venture thrived. The Tourism Development Fund from the Ministry of Tourism became our valuable partner, providing not only financial backing but also reducing governmental procedures for approvals. The project encompasses a lifestyle shopping mall, entertainment, F&B, hotel, and serviced apartments, in collaboration with Hilton. Partnering with Dubai’s DLR for design and expert consultants for leasing, environment, lighting, and landscape, we stand as a tourism hotspot not only for Abha but the entire Asir Region, reinforced by unwavering government support.
What inspired you to initiate The Point Abha Project, and what were your key goals for the venture?
The driving force behind The Point - Abha Project was the need for a lifestyle and shopping destination that caters to the region’s growing tourism potential. Our primary goal is to create a landmark project that aligns with the national vision of diversifying the economy through tourism and trade. Asir, with its rich culture and breathtaking landscapes, deserves a modern and vibrant space for locals and visitors alike. The government’s commitment to the development of the region and the continuous support from Asir Development Authority made it a conducive environment to embark on this venture.
How does The Point Abha Project align with Saudi Arabia’s Vision 2030 and contribute to the growth of the country’s tourism market?
With 15 years of tourism involvement, including Red Sea Mall’s successful 15-year run, we’ve hosted millions of visitors, at least 20-30% of them are tourists from inside and outside the country. The Point is an added value to the whole strategy of tourism and the Tourism Fund. This project is more than just a shopping destination; it is set to become a landmark for the Asir region, attracting tourists from far and wide.
In line with Vision 2030, The Point is aligned with the government’s efforts to promote tourism, enhance the economy, and diversify from a petrochemical-focused economy to one that thrives on tourism, trade, and technology. By offering a dynamic mix of retail, entertainment, and
hospitality experiences, the project will cater to the needs of both local and international visitors, bolstering Saudi Arabia’s reputation as a must-visit destination. The Point is positioned as a flagship attraction that not only contributes to economic growth but also elevates the cultural and tourism landscape of Asir.
Could you highlight a few distinctive features that set The Point - Abha Project apart and make it a compelling destination for both local and international visitors?
The Point stands out with its unique features and attractions, setting it apart from conventional shopping destinations. Its design is a homage to Asir’s cultural heritage, seamlessly integrating the region’s identity into every facet of development. This cultural immersion offers an authentic and engaging experience, connecting visitors to the essence of Asir. Moreover, the project will not only boost the region’s economy but also create over 20,000 job opportunities upon completion. Additionally, the utilization of local materials underscores its commitment to tourism and cultural authenticity. Our involvement extends to a youth centre, a collaborative effort with the government to enhance youth development through activities and training. Comprising lifestyle shopping, captivating entertainment, and exceptional hospitality, the project caters to Asir residents and visitors. Our unique hotels and serviced apartments promise unparalleled experiences, and our collaboration with consultants enhances placemaking design for maximum attraction.
How does The Point - Abha Project align with the vision and goals of the Red Sea Mall, and how does it enhance the overall visitor experience?
Red Sea Mall is a renowned retail and entertainment destination, prioritizing visitor experience with high operational standards, numerous awards and a dynamic tenant mix that caters precisely to market demands. The mall’s vitality is evident through its 360 annual activities. As we mark our 15-year anniversary alongside Disneyland Paris’ 30th year, we’re offering captivating activities and a chance
to win a week’s visit to Disneyland Paris. These strengths seamlessly extend to The Point, poised to become a regional lifestyle shopping hub. With a focus on retail, F&B, and entertainment, we’re committed to delivering exceptional customer experiences. Just as we excel in these areas, we’ll also prioritize hospitality and tourism, ensuring The Point becomes a thriving destination. In essence, our successful strategies from Red Sea Mall will shine at The Point, creating a vibrant and engaging haven for residents and visitors alike. Are there any noteworthy partnerships, whether with local or international brands, that will be part of The Point - Abha Project?
In the initial leasing stage, we engaged Phil McArthur’s team and reached out to major retailers both nationally and internationally, including prominent Dubai groups like Al Shaya, Chalhoub, and others. Their feedback on the project was highly positive. Simultaneously, we value our local brands and operators, a key part of our strategy.
Construction is underway, with the main contractor scheduled to begin by October. As the site preparation concludes, we’ll gradually unveil the brands that have partnered with us. The tenant mix will feature a blend of international and local brands. Additionally, exciting collaborations with the entertainment authority and other companies will bring diverse events and activities to the project, to be announced soon.
The Point - Abha Project is poised to be a transformative hub. From cinemas and entertainment zones to hotels and terraces that embrace Asir’s natural beauty, every aspect has been meticulously designed. The project is set to be completed in stages, with the mall projected to open its doors by the first quarter of 2026. During this journey, we envision creating an experiential ecosystem that resonates with both the local community and international visitors, setting new standards in retail and hospitality.
Oman Avenues Mall, the premier shopping and lifestyle destination in the Sultanate of Oman, has launched Oman’s first food hall to redefine the in-mall dining experience with “Avenues Junction - The Food Hall.” This exceptional culinary destination on the mall’s 2nd floor is aimed at offering patrons a diverse range of culinary delights within a vibrant and welcoming atmosphere.
A food hall is a large, open space that houses a variety of different food vendors, often in a communal dining setting. Food halls have become popular in recent years as they provide a unique dining experience and allow patrons to sample a wide range of dishes from one location.
Oman Avenues Food Hall has been carefully curated based on the best food and beverage experiences the mall customers would expect within a themed environment. The theme
“Avenues Junction - The Food Hall at Oman Avenues Mall represents a significant milestone in the mall’s ongoing commitment to offer exceptional dining experiences. The meticulous modifications and attention to detail have resulted in a captivating space where visitors can savor a diverse range of cuisines in a vibrant and welcoming environment offering our patrons an outstanding culinary destination.”
around which the food hall has been developed is modelled around a zen garden scape offering customers a feel of tranquility and at the same time combining a socializing environment.
Avenues Junction - The Food Hall at Oman Avenues Mall currently showcases seven distinctive restaurants, each ranging in size from 200 m2 to 450 m2, offering a diverse range of ethnically inspired cuisines.
Today, Avenues Junction - The Food Hall stands as a hub of culinary excellence, featuring seven distinct restaurants that cater to a wide range of palates. From cozy cafes to trendy eateries, visitors can enjoy renowned establishments such as Golocious, an Italian casual restaurant chain with origins from Milan, Italy and now a very popular chain spread over in Italy; Iraq Style, offering Iraqi and Levantine cuisine;
Razmazaan, an Indian casual dine restaurant; Bahr Al Turki, serving authentic Turkish seafood; Zen Asian Bistro, an Asian gourmet destination; ‘PEP,’ a vibrant Kuwaiti fusion restaurant focusing on trendy food offerings; and ‘Fahrenheit 375,’ specializing in international cuisine. With a combined seating capacity of 350 seats in a thoughtfully themed environment, The Food Hall offers a vibrant and immersive dining experience.
The addition of Avenues Junction has significantly enriched the overall dining experience at Oman Avenues Mall. By curating a selection of accomplished chefs and esteemed restaurateurs, the facility offers an exquisite showcase of culinary expertise. This enables patrons to immerse themselves in a diverse array of flavors and gastronomic journey, thoughtfully situated within the bustling atmosphere of the mall.
Jordan, a country known for its rich history and cultural heritage, has been undergoing a remarkable transformation in recent years. With a strong focus on economic growth, the country has embarked on various initiatives to boost its economy. One of the most significant projects that the Kingdom’s capital, Amman, has witnessed come to life in recent years is the development of The Abdali.
The story of The Abdali is a story of trials and triumphs, of ambition and achievement, of a national vision that continues to take shape more and more each day. It began in 2004, as part of His Majesty King Abdullah II’s vision to transform Amman into a vibrant regional epicentre and promote sustainable economic growth.
The ambitious project covers a vast area of 384,000 sqm and has been divided into two distinct phases. Phase I created a unique city within a city, drawing in renowned businesses to thrive and flourish. Over time, the project has blossomed into a dynamic hub that houses an impressive array of more than 157 establishments. From global corporations such as Amazon, Orange, SABIC, Siemens, Saudi Jordanian Investment Fund, Cementra, and Bigo the vibrant ecosystem has nurtured a diverse range of businesses and ventures.
At the centre of the project lies The Boulevard, a vibrant promenade that caters to visitors, residents, and tourists alike. This lively destination offers an abundance of shops, cafes, restaurants, and entertainment options that have made it the go-to place for any major celebration or holiday. Visitors looking for a luxurious and indulgent stay in the area can indulge themselves with the extravagant accommodations offered by The Boulevard Arjaan by Rotana. With all its abundant offerings, this area attracts approximately six million visitors each year.
Another major aspect of the project is The Abdali Mall. Spanning five floors, this shopping centre boasts an impressive array of renowned fashion brands, popular chain restaurants, a well-stocked supermarket, an attractive movie theatre, luxurious spas, and an abundance of captivating entertainment options suitable for individuals of all ages. As Jordan has been strategically positioning itself as a highly appealing medical destination, particularly to its neighbouring countries, The Abdali Hospital has stood out as a remarkable achievement in modern medical facilities. The hospital houses a team of highly skilled doctors and 28 specialist centres, making it convenient for patients to receive all the necessary treatments in one place.
Kinan is the Group Commercial Director for Abdali Investment & Development PSc., with over 19 years of solid experience in SME development. He specializes in strategic planning, innovation, and integrating small and medium-sized companies into the knowledge economy. His expertise spans North America, Europe, the Middle East, Gulf and Indian Subcontinent.
With its commitment to its vision and the diversity of the project, The Abdali is playing a significant role in enhancing Jordan’s economy, attracting both foreign and local investments, and creating numerous job opportunities for the local community. The project has generated employment across various sectors such as construction, hospitality, retail, and services.
The Abdali currently has its sights set on the future, as it is committed to continuing its efforts for further growth and expansion. Drawing on its decade-long experience and the latest global advancements, it is soon moving into Phase II. The project will introduce a top-tier convention centre, and advanced medical centers, as well as further expand its business districts. All facilities will benefit from the upgraded infrastructure, enabling businesses to flourish and reach their maximum potential. This, in turn, will attract local, regional, and global investors from various industries.
The Abdali represents an exciting chapter in Jordan’s journey toward economic prosperity and sustainable development. As it continues to evolve into a thriving hub of commerce and culture within Amman’s cityscape, this monumental endeavour showcases how innovation can drive positive change. Through initiatives like these, Jordan paves the way for continued growth while maintaining its unique identity as a nation rich in history and tradition.
DANA M. BITAR LEASING UNIT HEAD ABDALI BOULEVARD COMPANY
Dana is a highly motivated and experienced Leasing Unit Head at Abdali Boulevard Company, specializing in commercial real estate. With a Bachelor of Arts in English Language & Literature from Applied Science University and 8 years of leasing experience, she brings a strong educational background and practical expertise to her role.
Family Mall Sulaymaniyah is a beautifully designed mall located in the heart of Iraqi Kurdistan’s second largest city and cultural capital. Named a UNESCO World Heritage Site for Literature and the home to multiple universities, including American University of Iraq – Sulaymaniyah, Sulaymaniyah has a rich history and a future full of potential. Family Mall Sulaymaniyah opened its doors in November of 2016 with a mission of serving the local community as well as delighting the many tourists that visit the city from other areas of Iraq. Boasting an expansive Carrefour Hypermarket, fast food, sit down cafés and restaurants, along side well-known apparel brands such as LC Waikiki, Adidas, DeFacto, Skechers and Centrepoint, Family Mall Sulaymaniyah strives to present our visitors with choices in both style and price point. To that
end, we have recently contracted with ACR Partners of Dubai to bring new-to-market brands to the mall. We are looking forward to sharing the fruits of that collaboration in the near future.
Central to Family Mall Sulaymaniyah’s mission is Family. We aim to provide opportunities and experiences that engage the entire family, bringing joy and excitement. The Family Mall Kidzone is full of state-of-the-art amusements, games, and rides to thrill children. Our Slemani Bowling Center is the newest in the city and Slemani Ice provides fun for everyone. Visitors can also enjoy the Hologate VR Experience, Mirror Maze, 9D Cinema, Walking Robots and, of course, the train! Our recently refurbished Center Court Fountain lights up and dances to a variety of traditional and popular music enchanting kids and adults alike.
One of the highlights of Family Mall’s event calendar is International Children’s Day and the 2023 celebration was no exception. The Annual Balloon Drop brings in over 25,000 enthusiastic visitors awaiting the drop of over 30,000 balloons
Aside from being a visual feast as the colorful balloons descend, many of the balloons contain coupons to be exchanged for gifts from our retailers. Additionally, we host a full slate of performances by local schoolchildren – giving them an opportunity to share their singing and dancing skills with their families, friends, and the community.
In keeping with Sulaymaniyah’s status as a center for higher education in Iraq, soon we will launch the Family Mall Library to provide a quieter spot for visitors to work, read and learn inside the mall. Once completed, we intend to present a wide range of events including “Meet the Author,” chess tournaments, readings and other events of interest to the student population of the city.
The second goal of Family Mall Sulaymaniyah is to offer events, retailers, restaurants and experiences that can be found #onlyinFamilyMallSuli. As such, we are proud to welcome to Sulaymaniyah internationally renowned restaurants, Habib Beirut serving Lebanese cuisine and Azzurro Ristorante, an establishment offering a menu of Japanese/Italian fusion and the region’s first Teppanyaki dining experience. Both restaurants offer tasty food served in beautifully designed spaces with unparalleled views of the gorgeous Mawlana Park. Additionally, Mikel Coffee Company marks the entry of the first true international coffee shop to the market. Finally, our entertainment offer raced to a new level with the addition of SuperFast – an indoor go-kart racetrack that is incredibly thrilling!
Finally, our third goal is to provide a level of service and customer experience that cannot be found elsewhere. To that end, we have brought in multilingual Customer Service Ambassadors who welcome our local and out-of-town guests, assist them where needed and provide support for our retailers. We recently created a charming and colorful Baby Care Room, where mothers can feed, change, and rest with their young ones when needed. The addition of designated Family Parking spaces adjacent to our entrances provides safe and convenient access to the mall. These are the first of our service initiatives to come to fruition and we look forward to providing more as time goes on.
Like the beautiful Iraqi Kurdistan region, Family Mall Sulaymaniyah has bright prospects. We look forward to welcoming new retailers, engaging experiences and visitors from far and wide into the future!
Shannon A. Quilty General Manager Familly Mall | Sulaymaniyah
Shannon is a highly experienced international real estate professional specializing in shopping centres in growth and mature markets. She excels at building and leading strong teams, fostering positive relationships with clients, tenants, and communities even in challenging environments. With a focus on educating and mentoring others, Shannon has worked in the United States, Russia, and Turkey and currently operates in Sulaymaniyah, Iraq.
Introduction:
Shopping centres are becoming increasingly popular as these centres serve as bustling hubs, offering a diverse array of shopping options, entertainment venues, and dining establishments. Increasing visitor preference
to shop from shopping centres has drastically increased. For instance, the average conversion rate for shopping centre visitors globally ranges between 20% and 40% (as of 2022). Moreover, the increase in the area of shopping malls across MEA countries, reflects the growing demand for retail and entertainment experiences, attracting both locals and tourists to the region’s vibrant shopping culture.
Director – Global Accounts & Strategic Advisory Global Market Estimates Research & Consultants
The Middle East shopping centre market is estimated to grow from USD 376.0 Billion in 2023 to USD 586.5 Billion in 2028 at a CAGR of 6.2% from 2023 to 2028.
FIGURE 1 AREA OF SHOPPING MALLS ACROSS DUBAI IN THE UNITED ARAB EMIRATES FROM 2015 TO 2021 FIGURE 2 MIDDLE EAST SHOPPING SHOPPING CENTRE MARKET SIZEYash Jain, the visionary Director and Founder of Global Market Estimates, a trailblazer in the world of business intelligence. With boundless passion and unwavering dedication, he redefines success, shaping industries and inspiring change, one innovative idea at a time.YASH JAIN
Evolving consumer preferences, urbanization, and the proliferation of shopping malls to drive market growth.
The expanding number of middle-class families and rising disposable incomes are boosting consumer spending, and therefore fueling the demand for shopping centres across the region. Integrated technology, personalized interactions, contactless payments, and innovative marketing enhance engagement and convenience, and increasing demand for unique in-person experiences to differentiate from e-commerce, fostering innovation in brick-and-mortar retail are some of the other driving forces of the market.
The shopping centre market is poised for steady growth in the foreseeable future, and is driven by factors like urbanization, high consumer expectations, and the preference for immersive retail experiences. Integration of technology and the presence of connected devices within shopping centres will fuel further expansion. Emerging economies such as UAE, present promising growth opportunities due to urbanisation and a burgeoning middle class.
The Middle East region boasts a diverse range of shopping centres, from luxury malls to traditional souks, catering to the preferences and demands of both local residents and international visitors. Major cities such as Dubai, Abu Dhabi, Al Ain, Sharjah, Ras Al Khaimah, and Ajman are attracting renowned international brands and hosting large-scale events that further boost the retail sector. Technology integration in Middle Eastern shopping centres, including mobile apps and personalized experiences, have enhanced convenience and customer engagement. Furthermore, the growing number of malls are expected to drive the market’s growth. This will further expand retail space, attract consumers, and foster a thriving ecosystem of retail, dining, and entertainment all at one place.
The market presents numerous opportunities for retailers, investors, and developers. One such opportunity lies in incorporating sustainability and environmental consciousness into shopping centre design and operations. Implementing energy-efficient systems, promoting ecofriendly practises, and offering sustainable products will attract environmentally conscious consumers and contribute to long-term success.
The growth of e-commerce, shifting customer preferences, unpredictable economic conditions, and possible hazards related to leasing, tenant occupancy, and market saturation are a few of the challenges affecting the market.
Investment in the market is expected to be increasing during the 2023 to 2028, with developers and investors seeking strategic opportunities. For instance, the GCC invested USD 4 billion in Dubai, USD 3.7 billion in Saudi Arabia, and USD 166 million in Oman in 2017 to create new concept malls. The focus on mixed-use complexes, where shopping malls are joined with homes, offices, and entertainment venues to create thriving urban attractions, is one of the key drivers of growing investment cases.
Conclusion:
The market continues to be a dynamic and integral part of the retail industry. By understanding its market size, segmentation, growth drivers, regional dynamics, opportunities, challenges, and investment trends, stakeholders can position themselves for success. Adapting to changing consumer preferences, leveraging technology, and embracing sustainability will be crucial for shopping centres to thrive in an evolving retail landscape.
FIGURE 3 UNITED ARAB EMIRATES: RAPIDLY RISING URBANIZATION FROM 2012 TO 2022 FIGURE 4 SHOPPING MALL DISTRIBUTION IN THE UNITED ARAB EMIRATESIN2021,BYEMIRATE(INSHAREOFSTOCK)
Acountry once known for oil reserves, desert and camels has now undergone a remarkable transformation under the guidance of its strong and visionary leadership and the implementation of the ambitious Vision 2030 program. Today, the country is covering the ground at a great pace and the potential this land holds is now the focus of the international market.
Saad is a seasoned real estate professional with a remarkable track record spanning 14 years in prestigious locations such as the UAE, UK, Qatar, KSA, Kuwait, and Turkey. He specializes in Strategic Business Advisory, mainly retail and real estate. Currently serving as the Senior Manager of Strategic Consultancy at Land Sterling in KSA, Saad exhibits a keen interest in tenant mixes, brand introductions, and Mall placements. He has a portfolio of investors looking to establish profitable assets both in Retail and Hospitality within KSA.
With its revised policies for business ownership, lifestyle, tourism and open visa policy along with the robust and supremely integrated digital platform, Saudi Arabia is attracting international businesses and mass economic migration into the country.
KSA market has shown a significant recovery and bounce back post COVID as if it was laying down the racetrack during the COVID period. Saudi Arabia’s retail market is anticipated
Saad Athar, ACMA (UK), ICSC L2 Senior Manager – Strategic Consultancy Land Sterlingto project robust growth in the forecast period on account of rising tourism, growing presence on online platforms, an increasing number of retail stores throughout the nation, etc.
Due to rising inflation and consumers’ increased spending on essentials, retailers in the Gulf Cooperation Council region are reporting greater turnover rates. Post COVID-19 in the first half of the year, Saudi Arabia’s retail sector saw an expansion in retail space and a robust recovery in domestic demand. The value of point-ofsale transactions increased by 16% year over year, in April 2022 and May 2022 to a total of USD24.79 billion throughout the kingdom. Riyadh’s entire retail stock expanded by 55,000 square metres of gross leasable area (GLA), Jeddah’s retail space increased by 16,000 square metres to 1.7 million square metres, and Makkah’s retail space increased by 17,500 square metres to 1.4 million square metres in the first half of the year 2022.
launched a strategic plan for its retail business in Saudi Arabia until 2026, intending to provide a variety of options for the shopper with a unique experience, through the company’s sales points, supermarkets, developed corners, wholesale and online platforms.
Also, according to a study from the investment ministry, net foreign direct investment in Saudi Arabia increased by 257.2% in 2021, according to the official Saudi Press Agency. Also, according to SPA, the wholesale and retail sector continues to dominate the issuing of foreign investment licenses, posting 1,481 licenses in the second half of 2021.
The above is just the synopsis of the big that is happening in KSA. It is pivotal for the international retail market players and Middle Eastern groups to start looking at the KSA market with interest, if they are not till now.
Consumer spending From SAR 320Bn to SAR 390Bn from Jan 2021 to January 2023 a rise of 22% in two years.
Moreover, major retail chains in the country have observed significant growth in the year 2022. For instance, in the first quarter of 2022, Abdullah Al Othaim Markets Co. established nine new branches, enhancing its branch network by 7.31%. Additionally, Al Othaim’s first-quarter profit for the year 2022 increased from USD15.57 million in the same period in 2021 to roughly USD24.57 million. Also, BinDawood, a Saudi Arabian retailer, reported a 5.4% increase in first-quarter profit on higher revenue, in 2022. Moreover, companies have been improving their strategies to enhance their services and attract a consumer base. For instance, in 2022, Abdullah Al-Othaim Markets Company
With major Real Estate projects and developments planned by PIF and the Downtowns being built in and around major cities, there is a massive appetite for retailers and shopping centre operators in the Kingdom.
When I meet the investors, the landowners and even Government officials, as their retail advisors and placement partners, there is always an interest in bringing retail variety to the consumers here and making it a place for everyone – I strongly believe and would advise it’s the right time to set the trend with your brand rather than becoming the trend chaser.
The Middle East and North Africa (MENA) region has always been known for its rich cultural heritage and vibrant fashion scene; however, with the rapid advancement of technology, the region is undergoing a profound transformation in the way people shop, communicate, and express themselves. From e-commerce, VR and AR to automation and social media, the influence of technology on fashion and lifestyle in the region is undeniable. With this seismic shift, it’s imperative to remember that the human touch remains invaluable and preserving the essence of human connection while harnessing the potential of technology is essential for a thriving retail industry that prioritises customer experience and satisfaction. At Majid Al Futtaim Lifestyle, our commitment to striking the right balance has yielded remarkable results, with our online sales doubling over the past year.
Fahed Ghanim Chief Executive Officer Majid Al Futtaim Lifestyle
E-commerce platforms emerged as a game-changer in the early 2000s, and it comes as no surprise that it quickly became an essential method of shopping, given our young and tech-savvy population. Moreover, VR and AR technologies have taken online shopping experiences to new heights, with virtual try-on services not only enhancing customer satisfaction but also reducing the rate of return - a win-win for shoppers and retailers alike.
Automation technologies have also revolutionised retail operations. Selfcheckout systems, automated warehouses, and inventory management software have streamlined processes and enhanced operational efficiency while the integration of AI is allowing for deeper analysis of vast amounts of data to predict trends and personalise recommendations.
Fahed Ghanim is the CEO of Majid Al Futtaim Lifestyle which includes more than 65 stores and 18 digital platforms across the MENA region. Majid Al Futtaim Lifestyle holds exclusive licensing rights across the region for Lululemon, LEGO, Abercrombie & Fitch, Hollister, AllSaints, Crate and Barrel, CB2, Poltrona Frau, Ceccotti, Shiseido and THAT, a Majid Al Futtaim Lifestyle multi-brand concept store and app.
Since embarking on our transformation journey five years ago, Majid Al Futtaim Lifestyle has invested in cutting-edge digital infrastructure to enhance customer experiences and operational efficiency. In 2022, we increased our online presence to 18 platforms and strengthened our advanced analytics team to support our network of 65 stores across the region to deliver a seamless, unique and personalised omnichannel journey for our customers.
THAT Concept Store, our multi-brand homegrown concept, continues to raise the bar with its digital innovations, becoming the first retailer to take over the Store of the Future in Mall of the Emirates with its immersive Digital Display Canvas, Magic Mirror, Beauty Mirror and Store Analytics, transforming the way customers interact with the store.
In 2022, Majid Al Futtaim Lifestyle launched a dedicated e-commerce platform for lululemon, which will propel the brand’s growth beyond its remarkable 10X expansion achieved within the last three years in the region. Our online sales have doubled since last year across all brands and contributed to more than 20% of our total revenue for our Home category, which includes brands such as Crate and Barrel and CB2. We anticipate that upward trend to continue as we further invest and innovate our platforms and supporting technologies.
In terms of automation, we invested in planning tools to automate repetitive tasks, deploying 30+ RPAs (Robotic Process Automation) so employees can focus on insights and areas that require human ingenuity and problem-solving, as well as assortment forecasting to avoid personal biased decisions and mitigate stock issues. These two innovative measures have not only improved operational efficiency but we also project a minimum 3% uplift in revenue as a result.
As we continue on this digital transformation journey and automation becomes more prevalent, it is incumbent upon
us as retailers to invest in upskilling programs to empower employees. At Majid Al Futtaim Lifestyle, we have wholeheartedly embraced this commitment to continuous development for every level of staff, so we can drive sustainable success in the evolving retail landscape.
As Majid Al Futtaim Lifestyle continues to innovate, we never lose sight of the power of human interaction in retail. Retail frontliners possess the unique ability to build personal connections with our customers and these interactions create a sense of trust, foster loyalty, and contribute to the longevity of customer relationships. We take great pride in our Net Promoter Score of 71.0 across our stores in MENA, a true testament to our unwavering dedication to customer satisfaction. No algorithm or machine can replicate the warmth and empathy that comes from human interaction. It is this aspect that sets the retail experience apart from online shopping, making it a vital component of the industry’s success.
Since embarking on our digital transformation journey in 2018, Majid Al Futtaim has quadrupled in size, achieving a record 38% growth in like-for-like revenue in 2022. We plan to continue on our growth trajectory as we foster lasting connections with our customers and deliver exceptional experiences at every touchpoint. In an ever-evolving retail landscape, our continuous innovation, focus on customer centricity and employee empowerment ensures the company’s relevance, adaptability, and ability to cater to the dynamic needs of today’s customers.
Anew retail landscape is emerging, driven by changing demographics and evolving customer desires. Generation Z and millennials seek more than just economic exchange – they crave connection, knowledge, meaning, community, sustainability, and immersive experiences. Regenerative retail is about putting back more than you take out, it goes beyond sustainability, it’s about creating a sense of place and community. Regenerative retail and mixed-use precincts are essential for future-proofing developer investments and meeting future customer expectations. Developers must understand the importance of embracing these regenerative principles to stay relevant and successful in a rapidly changing and evolving market.
As the Middle East retail industry matures, we find that future and current customers will have needs that lend more towards enlightened selfinterest in areas of personal well-being, environmental awareness, positive commercial exchange, and the desire to learn and feel proud about their culture and community. A mixed-use retail town centre experience provides the evolutionary platform for growing with new customers as they search for meaning and connection beyond the retail experience.
How has it worked in Australia? Brickworks in Melbourne and Rouse Hill in Sydney are successful current examples that demonstrate the power of integrating regenerative practices into retail centres. Brickworks showcases sustainability through energy production, closed-loop recycling, cultural narratives, and landscapes in a retail mixed us setting. Rouse Hill created a town centre with economic, social, cultural, and ecological anchors. Other examples include the development of Dubai Creek and Melbourne Central, where success is similarly achieved through the integration of cultural overlays and distinct precincts within their given centres. Pre-Covid Rouse Hill was one
GILBERT ROCHECOUSTE Founder & Managing Director Village WellGilbert Rochecouste is recognised as one of the world’s leading Retail and Placemaking visionaries. His innovative ideas and thinking have helped Melbourne become the world’s most liveable city for 7 years running as well as making Chadstone the best and most successful shopping centre in the southern hemisphere. Gilbert was the first to introduce Placemaking to the Middle East and training in Dubai and Oman. He has successfully worked with and repositioned over 2000 cities, towns and mixed-used shopping centres in the last 30 years.
of the highest performing retail centres in sales and foot traffic due to its curated and unique indoor/outdoor spaces. Melbourne Central became the highest performing mixed-use shopping centre in the southern hemisphere (measured through ROI and sales per square metre). Through its retail curation and deep understanding of future customer needs the centre has become a highly successful precinct and a city destination in its own right. Moreover, all these projects simultaneously demonstrate the potential for creating unique and meaningful experiences, by curating place-based environments and catering to the diversifying needs of customers.
In the future, we must learn to embrace these regenerative principles and adopt a holistic approach to placemaking in early development. Developers need to recognize that a centre’s economic viability rises and falls with its ability to provide social, cultural, ecological, civic, and even spiritual experiences for their customers. This entails adopting a new management philosophy of place curation where distinct / immersive experiences are curated for specific customer segments that allows their participation in social, cultural, environmental, and economic exchange, and learning.
Successful enlightened retail developers value both the hardware and software when designing and activating their centres and understand the value of a customer led practice, that puts people and place first. At Village Well, we work with future thinking developers around the world who understand the potential of mixed-use precincts and their ability to attract and retain customers through immersive experiences and communityfocused designs. From the inception of a development, to long after it is built, we help to integrate civic and cultural anchors, foster a need for sustainability, and prioritize consumers closely linked to the area of development. This is how we are differentiating our retail centres from others and providing a competitive advantage.
Here are 5 steps that we have utilised to bolster the developments of strong performing retail centres:
1. Have a compelling regenerative place vision and essence and principles that put people and place first.
2. Develop a retail curation management model to partner and evolve with your customers. Provide opportunities for retailers to become retail curators and activators.
3. Think of a single development as a town centre that provides all necessities for humans to thrive; accommodation, commercial, learning, entertainment, leisure, civic and culture. Develop a new set of civic and cultured anchors that allows your customers to linger longer, to grow and learn, feel a sense of pride and stronger sense of belonging to their place, ultimately leading to increase in sales and customer satisfaction. The goal is to increase the lovability of the centre!
4. Create a heart and allow malls to become more like streets and laneways.
5. Create new everyday rituals that go beyond just the retail experience.
We urge all developers to incorporate regenerative practices from the early stages of planning and design. By creating regenerative retail mixed-use precincts, developers can future-proof their investments, meet customer expectations, and contribute positively to communities and the environment. It is not a choice, but a necessity. We must embrace this blue ocean strategy and realize that doing good is not just a responsibility, but a platform for success in the future of retail. For more info, visit www.villagewell.org
Isn’t it incredible how a shopping mall is often the focal point of a city going through regeneration? All over the world, malls are the beating heart of villages, towns and cities. With globalisation and digital connectivity, there is however a huge elephant in the room. The same stores and the same experiences are being rolled out via a cookie-cutter approach everywhere.
Localism and an understanding of the cultural fabric have to underpin every single consumer shopping experience in the world. When shopping experiences are immersed in the local culture, retailers can align their brand messaging and experiences with what truly matters to the local audience. This cultural understanding helps build authenticity and connection which in turn, builds trust and loyalty among customers. This is paramount for retailers to create thriving retail experiences that resonate with customers both locally and beyond.
In addition to mastering the tone of ‘Glocal’ shopping experiences, there is something equally vital when it comes to cultivating thriving retail environments. We cannot ignore the influx of digital tools we have at our disposal, most notably, social media.
KORAL IBRAHIM Founder & Managing Director The Ready HouseKoral, Founder & MD of The Ready House, has 10+ years’ global agency experience. With expertise in launching and revitalizing brands, he disrupted the consultancy model by focusing on social and digital channels. Specializing in placemaking, fashion, and hospitality, The Ready House unlocks brand potential through community-driven social branding.
I’m going to leave you with The 3S model of mastering social media.
If you’re still treating social media as a nice-to-have in your business strategy, you have to wake up. Today’s consumers live their lives online, period. We all know it, and we all need to embrace it. The people you want in your stores are busy online sharing their lives and crucially for retailers - their shopping experiences.
A social-first mindset isn’t about selling your products on social platforms, but rather, allowing social media to inform and guide your business decisions. How can retailers create social moments, something we at The Ready House call ‘social cues’, within their stores for example?
Traditionally, retail was about selling a product or a service. Today, it’s about selling a lifestyle, an ethos, a story. Now more than ever, customers are seeking more than a transaction. They want an experience, they want a connection. They want to belong. Brands should use their social platforms to tell stories, share opinions, and ignite debates. This shift requires you to listen and understand your customers, to speak their language and to resonate with them.
In the world of social media, each like, share, and comment is a valuable data point. With the right tools, these interactions can be harvested – or ‘scraped’ – to give you a detailed understanding of what truly engages your customers.
By analyzing online interactions, credit card usage, and trends, retailers can gather valuable insights that mitigate risk and inform your business decisions. For marketing purposes, social scraping enables retailers to identify local influencers, track community interests, and develop personalised experiences that resonate.
But even more important is using social scraping to inform your business decisions. Will our store work well in this location? What stores do our local customers want to see?
The notion that retail is dead is a limited perspective; in reality, there are numerous stores that are thriving more than ever before. By harnessing the power of the 3 S’s, retailers can ignite a retail revolution that embraces local culture and creates thriving retail ecosystems that benefit both the local community and beyond.
TheBeaconShoppingCentre,Eastbourne- Public realm designwithlocalartists.
LoneDesignClub,London- A curated collection of independentandsustainablebrandsinthefashionspace.
The evolution of malls has been a steady process for sixty years, with a focus on creating desired places for people to gather. Places immersed with leisure and attractions, for work and living where these functions are no longer separable. Places of comfort and aspiration; protection from the elements; third places to connect and live; a haven from the surrounding, constant city created through disruptive growth. At its heart, the shopping centre is the city centre. Yet, radical changes are coming as malls reach their existing limits and are directed to the accelerated desires of consumers. The best will continue to thrive—the rest must adapt, fast.
As cities urbanized rapidly, with influxes of people and migration, traditional patterns became displaced as new formats emerged. Retail centres cannot instantly absorb the shifting proportion of F&B, entertainment, and work. While financial projections are predictable, the orchestration required of centre operators now are far greater, with constant curation and anticipation of future concepts in demand. Dubai, Riyadh, Jeddah, and Doha are not in competition with one another, but vie for attention with Europe, America, India, East Asia; they race against Macau Cotai, Singapore Marina Bay, the Las Vegas Strip, 5th Avenue New York, for preeminence.
One of the key changes we can expect to see in existing malls is a focus on retrofitting and adaptive re-use. This creates a sustainable future and better practice of updating spaces, with a focus on modularity, prefabrication, and materiality, economic strategies as methods become industry wide.
Robotics, vehicles, automation, and programmatic design will play a key role in infrastructure, distribution, delivery, and fulfilment systems. Consider how quickly concepts have shifted over the recent ten years, with acceleration continually increasing. Long-term leases may be required to confirm key branded tenants. Major brands are in laboratories inventing immersive experiences focusing on customer relationships rather than how products look on display. On a regional scale, these journeys are multi-generational, muti-cultural; understanding what is in stasis, and
PHIL KIM CHAIRMAN JERDEPhil Kim is Chairman of Jerde, with offices in Los Angeles, Hong Kong, Shanghai and Singapore. The firm has been recognized with 170 awards that draws over a billion visitors annually. He is also Chair of the Urban Land Institute Hong Kong Council and a Global Governing Trustee, a Founding Member of the Institute of Sustainable Urbanization and a long-time juror of the ICSC Design Excellence Awards.
what is in constant motion.
The future of malls will be focused on combining technology and place. Wearables, implants, contact lens-projection, AR, and generative-AI will all be used to create a fully immersive experience, venues surrounding customers creating a sense of connection and community. The fundamentals remain in the understanding of human places.
Adaptation isn’t only a means of addressing outgoing tenants and bringing in the new. The Commons, in the Thong-Lor and Saladeng districts of Bangkok, has spent the past ten years experimenting with a department storesized format virtually 100% F&B. It combines street food and gourmet experiences around a central intertwining public space, amphitheatre, and vertical circulation. What allows The Commons to thrive is responsive and creative management—the complete engagement of the owners to their tenants, and support of the sustainable community and individual needs that they address in personalised ways.
Namba Parks Osaka constantly shifts experience. 20,000 plants and trees change seasonally in coloration, scent, shadow—the human need to viscerally connect with the world around us is of the present and the future. Even the extreme desert conditions of the Middle East have proven that both indoor and outdoor environments can heighten
our connection with place and one another. With the wealth of knowledge and funds available in this growing region, unique ecosystems define its near future of retail.
Commitment to the future is evident. Attention is on what Dubai has become, where Saudi Arabia is aiming. Yet, challenges have existed since the invention of the modern shopping centre in North America in the mid-1950s, the super-regional shopping entertainment centres of the late 1990s and 2000s, Asia’s dense, vertical centres these past fifteen years. How many can one city sustain?
Customers know too much, have been to many places, are too quick to judge. The mall isn’t dead, but bad malls are.
Retail is an infinitely flexible format. While we may hold onto the safer understanding of yesterday, this moment in time is a confluence of knowledge, travel, technology, transport, mixeduses, densification, and experience. Our industry is ready to redefine malls as unique places that define a region—a mystery to many outside, but a chance to make a culturally relevant, techimmersed series of places that fit.
The mall isn’t dead, but long live human-centric places that matter.
Welcome to a world where flavours reign supreme, and the retail experience transcends the ordinary. I am Will Odwarka, a seasoned pioneer and leader in the hospitality industry and F&B development. I keep leaving my mark for over 3 decades and across more than 40 exciting countries. From executive excellence to driving transformative change as a distinguished hospitality consultant, my unique perspective as both consultant and F&B business owner and operator has unveiled remarkable insights into the captivating interplay between our beloved industry and its ever-changing environment. Join me as we delve into the transformative journey that has shaped our industry and the environment it thrives in.
The food and beverage (F&B) industry has emerged as a vital element in the modern retail landscape. The traditional concept of retailing has evolved to encompass a mix of products and services. F&B plays a significant role in driving footfall, fostering customer engagement, and overall sales. Today, the F&B offerings in retail establishments have become a crucial factor in attracting and retaining customers, enhancing the shopping experience, and driving profitability.
One major influence of F&B in the modern retail landscape is its ability to generate footfall when it’s done right. More is not just more! It is offering an appealing range of food and beverage options within a retail space that can entice customers who may not have otherwise visited the store. Whether it is a trendy café, a quick-service restaurant, or a gourmet food counter, the presence of F&B establishments creates a sense of socialization and attracts a diverse range of consumers. This increased footfall not only boosts the overall revenue of a retail establishment but also exposes customers to the
For the love of hospitality
Will is an esteemed leader, entrepreneur and respected voice in the global hospitality industry. With a career marked by successful senior and executive leadership tenures, founder and owner of an international hospitality consulting firm, co-owner and operator of both F&B Operations at the Austrian Pavilion Expo 2020 and Mozart Hospitality, he brings a unique blend of expertise and insights to the table. His extensive experience includes strategic brand and business development on an international scale, with over 1000 openings in more than 40 countries for notable brands including McDonald’s, Starbucks, and Burger King.
various brands and products available within the store, leading to potential cross-selling opportunities.
Furthermore, the presence of F&B within retail spaces enhances customer engagement and encourages extended stays. As shoppers often seek a break during their shopping trips, F&B outlets provide a convenient and appealing respite. Retail establishments have capitalized on this opportunity by creating inviting seating areas, offering free Wi-Fi, and providing charging stations to encourage customers to spend more time within their premises. By incorporating F&B options, retailers are able to foster a sense of community and relaxation, thereby increasing customer satisfaction and loyalty.
Moreover, F&B offerings have become a crucial element of experiential retail. Retailers are increasingly moving away from a transaction-only approach to focus on creating immersive, sensory experiences for their customers. By integrating dining options within their premises, retail establishments tap into the power of taste, smell, and touch to heighten consumers’ emotional connection with their brand. Innovative F&B concepts, such as cooking classes, chef demonstrations, and pop-up restaurants, offer customers a chance to engage actively and participate in the retail experience, elevating it beyond mere shopping.
In conclusion, the influence of food and beverage in the modern retail landscape cannot be understated. The presence of F&B establishments not only drives footfall and extends customer stays but also transforms the shopping experience by creating a sense of community and fostering emotional connections. By recognizing and capitalizing on this influence, retailers can enhance their overall attractiveness, drive profitability, and stay ahead in an increasingly competitive market. As the retail landscape continues to evolve, the integration of F&B will likely remain a key component for success.
Another significant influence of F&B in the modern retail landscape is its potential to transform the shopping experience. Gone are the days when shopping was solely about purchasing “things”; it has become a multi-faceted collection of experiences instead. As such, retail establishments have recognized the importance of offering F&B options that go beyond simple sustenance. From fusion cuisine to gourmet dining experiences, F&B outlets within retail spaces provide customers with an opportunity to indulge in unique culinary experiences, creating memorable moments that align with the overall brand image and values of the retail establishment.
360MALLExtension,Kuwait
What’s life without food? Anyone living in Dubai knows this well. Dubai’s culinary landscape has undergone a remarkable transformation in recent years, experiencing exponential growth in both quality and diversity. From traditional Emirati fare to international flavours from all corners of the world, Dubai’s dining scene has become a gastronomic paradise for food enthusiasts.
This upward trend has given rise to new concepts and F&B sensations, from cosy eateries in Bur Dubai and glitzy gourmet setups on the Palm leading the way. It’s safe to say that Dubai’s dining scene is constantly evolving and pushing boundaries to provide visitors and residents with an exceptional culinary experience.
However, brands understand that delivering exceptional culinary experiences is only one part of the equation for success. To stay ahead in today’s market, they need to be able to tap into the pulse of their audience and showcase their best dishes to wow crowds and set trends that will be replicated worldwide. This is where food events come to the rescue. They offer the perfect platform for experimentation and provide unlimited access to diverse audiences. Fortunately for us in Dubai, we are passionate about our events, especially the Dubai Food Festival. Running in its 10th year, the event has become a favourite among residents who enjoy the old, new, and unique.
The 2023 edition was the most successful yet, reaffirming the firm foothold of the F&B space in the country. DFF showcased a plethora of options, including casual dining, light bites, local and regional cuisine, and some hidden gems. As one of their key partners, we at BUZ spearheaded the launch of the AED 10 dish, which proved to be a resounding success. A fitting tribute to the 10th edition of the beloved festival, the AED 10 promo allowed customers to indulge
BAIJU KURIEASH CEO & Managing Director BUZ Management & MarketingBaiju Kurieash is a highly successful business entrepreneur based in Dubai, known for his expertise in media, communication, events, and marketing strategies. As the founder of BUZ Marketing LLC, he has a remarkable track record of executing major initiatives for government and private sector entities. Currently serving as the CEO and Managing Director of BUZ MMC, Baiju is widely recognized as a sought-after speaker and thought leader in his field.
in a multitude of culinary delights at an affordable price point. Besides that, it provided brands with a platform to showcase their offerings and tap a wider audience.
The AED 10 promotion was a win-win for both festival-goers and participating brands, further boosting the festival’s popularity and cementing its status as a must-attend event for foodies in Dubai.
On the sidelines, we also witnessed several engaging experiences that took the festival’s buzz up a notch and created a truly memorable experience for all who were part of it. Renowned chefs showcased their skills and creativity at Chef’s tables, while experiential foodie offerings provided immersive dining experiences. Masterclasses offered participants a chance to learn from experts, and Dubai Restaurant Week provided great value dining deals. Kids’ experiences catered to the little ones, while the Beach Canteen created a vibrant atmosphere with its seaside setup.
The Dubai Food Festival’s success is a testament to the city’s mature palate, the burgeoning F&B industry, and its reputation as a global culinary destination. But the festival’s continued growth signals even more exciting innovations and creativity to come.
Today, Dubai boasts some of the world’s most exceptional restaurants, and with a dynamic culinary landscape and a passionate audience, the future of the F&B industry looks incredibly promising, leaving food lovers worldwide eagerly anticipating:
It is worthwhile mentioning here that the F&B offering in the malls are also changing with the gourmet friendly food halls are a growing addition. Depachika, Huna and Time Out market are good models of this growing new segment where curated food, events and experiences are offered. The food experience from handpicked and some locally known F&B outlets can be found in these food halls. The next is already here. For more info, please visit our website at www.ibuz.ae
Retail asset management is the art of transforming brick-and-mortar spaces into vibrant havens that captivate shoppers and transcend mere transactions.
In a world dominated by online shopping, retail and shopping centres are undergoing a transformative shift. Asset management in the retail industry goes beyond property maintenance; it’s about creating immersive experiences, engaging communities, and reinventing the shopping journey. This Q&A explores innovative strategies to revitalize shopping centres, enhance customer experiences, and thrive in a changing marketplace. Join us as we reimagine the future of shopping with Marcello Larizza, Managing Director at Pradera Vindico.
Kindly share a brief background of yourself.
I am Marcello Larizza, currently the Managing Director at Pradera Vindico, bringing over 25 years of experience in Retail Real Estate. My expertise encompasses the initial phases of shopping mall establishment, including Development, Leasing, and Management. I oversee the creation of new malls and the efficient management of existing ones. My contributions have significantly impacted the industry in Italy, Oman, and the UAE. I hold designations as Certified Shopping Centre Manager (CSM) and Certified Retail Property Executive (CRX) from the International Council of Shopping Centers (ICSC). Additionally, I have served as a
Board Member of MECS+R (Middle East Council of Shopping Centres & Retailers), reflecting my commitment to enhancing the shopping centre landscape and fostering industry growth.
What role does Asset Management play in the success of a shopping mall?
Asset management plays a vital role in the success of a shopping mall by aiming to increase its value. It involves strategic planning, identifying target markets, and implementing plans to attract and retain tenants, customers, and investors. Successful tenant management ensures a diverse mix of high-quality tenants, leading to higher occupancy rates and rental income. Financial management optimizes revenue generation while controlling costs, contributing to improved profitability. The appropriate property maintenance enhances the mall’s appeal, attracting a greater number of customers and tenants. Marketing and promotion
MARCELLO LARIZZA MANAGING DIRECTOR PRADERA VINDICO
strategies drive foot traffic and boost tenant sales. Risk management safeguards the mall’s long-term viability by addressing economic fluctuations and regulatory concerns. Asset managers focus on enhancing the customer experience through an inviting ambiance and top-notch customer service, ensuring customer retention. Lease renewals and negotiations secure favourable terms for tenants and financial performance. Monitoring performance through key indicators allows data-driven decision-making for the mall’s growth. Community engagement strengthens the mall’s image and appeal by connecting with the local community through events and partnerships.
Technology and data analytics play a significant role in modern asset management practices for mall owners. What are the keyways that technology and data analytics contribute to effective asset management?
Technology, particularly data analytics, allows mall owners to collect vast amounts of data related to customer behaviour, foot traffic patterns, and sales trends. VRDnet contributes to this data-driven approach by offering features like process flow automation, design reviews, and real-time reports. It
aids landlords, architects, engineers, and project managers in streamlining operations, enhancing efficiency, and improving collaboration. While VRDnet is a valuable tool in the retail design & delivery toolkit, the greater emphasis lies on technology and data analytics as a whole. By leveraging technology, asset managers gain critical insights into consumer behaviour, which translates into more strategic decisions about tenant selection, lease agreements, and mall design.
Pradera and Vindico are prominent players in the retail asset management industry and in the Retail Design & Delivery Industry / Retail Project Management. Why did they establish a JV and how does their expertise and involvement enhance the value proposition for mall owners?
Pradera and Vindico formed a joint venture (JV) called Pradera Vindico combining expertise in retail asset management, project management, and retail design & delivery. With Pradera’s excellence in retail asset management and Vindico’s specialization in retail design & delivery and retail project management, the JV offers a wide range of competencies and a strong track record in their respective fields.
Mall owners benefit from the end-to-end solutions provided by the JV, encompassing concept design, project implementation, leasing, and ongoing asset management. This comprehensive package ensures a smooth and efficient process for mall owners.
Drawing from their experiences in global markets, Pradera Vindico brings innovative approaches and best practices to help mall owners stay ahead of the curve and adapt to changing market demands. Through our combined resources and networks, Pradera Vindico opens doors to a broader range of potential tenants, partners, and industry contacts, creating more opportunities for successful retail ventures.
Before we wrap up, is there anything else you would like to share or final words? Additionally, for individuals or companies interested in utilizing your services, could you please provide the best way for them to get in touch with you?
As mall owners ourselves, we possess an intimate understanding of the requirements and expectations of landlords. Our key strength lies in our ability to grasp the cultural nuances of the countries where we operate. To learn more about our work and stay connected with us, reach us at www.praderavindico.com
Picture yourself in a bustling shopping mall, where every step you take bridges the gap between your physical and digital worlds. It’s a shopping journey like no other, made possible by the magic of loyalty innovation - a transformative force reshaping the retail landscape. Today, we delve into the realm of cutting-edge technology that’s revolutionizing customer experience and providing invaluable insights for shopping centres and retail professionals alike.
At Coniq, we understand the significance of understanding customers inside out. The journey to unparalleled customer engagement and satisfaction lies in meeting customers exactly where they are and delivering personalized experiences ingeniously crafted with the core of cutting-edge technology.
Take Sarah, for example, an enthusiastic mallgoer from our local area. As she strolls through the mall, her phone comes alive with a notification - an exclusive discount on an item she had been eyeing online just a few days ago. Thrilled by the thoughtful gesture, Sarah heads to the store, where she finds the product waiting for her, along with a personalized note from
Arnaud de Harenne is the Senior Sales Manager of Coniq for the Middle East. With 9 years of experience the GCC’s Fintech, Retail and Telecom, he joined Coniq driven by the vision to transform data into valuable insights for the Retail Industry. Arnaud specializes in creating exceptional customer experiences through datadriven rewards and personalized communication for Malls, Retail Groups, and Neighborhood projects.
Arnaud de Harenne Senior Sales Manager Coniqthe store manager. Leaving the store with a smile, Sarah is impressed by the seamless integration of her online and instore experiences.
In today’s fast-paced retail environment, exceptional customer experiences are the key to success. Coniq’s agile technology empowers shopping centres to integrate data-driven loyalty solutions across all touchpoints, creating consistent omnichannel experiences that cater to individual preferences. By understanding customers on a deeper level, we can create personalized interactions that leave a lasting impression, transforming the mundane into the memorable.
At our core, we believe in the art of understanding customers on a deeper level. Our platform goes beyond mere data integration; it’s packed with cutting-edge features to capture valuable transactional data and analyse shopping behaviours. Armed with these invaluable insights, mall operators and retailers gain deep insights into their customers, leading to more informed decisions and communicate with customers on a profoundly
personal level. As a result, customers like Sarah receive personalized offers and recommendations that enhance their engagement and keep them coming back for more.
At the heart of retail evolution lies Coniq’s groundbreaking omnichannel technology. By providing retailers with advanced tools like cardlinking, receipt scanning, and affiliate marketing capabilities, we consolidate vast customer data in one secure platform, empowering mall operators and tenants with invaluable insights into shopper behaviors. This paves the way for informed decision-making and targeted communications, ensuring personalized and seamless experiences across touchpoints.
As we continue to expand our transformative capabilities globally, retailers and shopping centres can harness the power of loyalty innovation to elevate customer experiences, boost engagement, and foster long-lasting loyalty without looking elsewhere. Join us on this journey, and together, let’s take your customer experience to extraordinary heights.
AGoogle Maps listing is truly a misunderstood, overlooked, and underutilized digital marketing and revenue-generating powerhouse for any retailer or mall operator.
Set aside your focus on Instagram and TikTok for a moment! The traffic and views that you believe your brand or mall’s Google Maps listing garners on Google could be vastly underestimated. In fact, it’s likely that the actual figures are at least 100 times greater than what you might currently perceive. Yes, you read that right!
Did you know that more than 50% of Google Maps references are just for store or mall opening hours of operation? True.
Did you know that adding photos of your business to your Google Maps listings as the owner can boost click-through rates by over 40%? True.
Did you know anyone (including your competitors) can edit your Google Maps listing details? True, anyone can change your business phone number, map pin location, operating hours and even your business name.
Did you know Huawei mobile phones don’t have access to Google Maps or Google Search? True, they use the Huawei search engine and mapping platform called Petal Maps and Petal Search.
Did you know that Yandex Maps and Yandex Search are known as Russian Google? True, it is the official Russian homegrown Search Engine and mapping platform.
It is fair to say that nearly 100% of shoppers have a mobile phone in their possession.
It is also fair to say every one of those mobile phones has a map and search engine installed and is used frequently.
Trevor Nadeau Founder & Managing Director Local KnowledgeTrevor is a Canadian from Montreal, now splitting his time between offices in Dubai and Cairo. For the past 20 years, Trevor has lived and worked in the local listing and local search industry in the GCC, Egypt and Turkey. Prior to founding Local Knowledge in 2013, Trevor held senior management roles with Egypt Yellow Pages, STC Yellow Pages, Etisalat Yellow Pages and Turkey Yellow Pages.
Local Knowledge, the MENA region’s leading Digital Location Management Agency is on a mission to help retail brands and mall properties to understand the importance of a managed digital location presence not only for revenue generation and new customer acquisition but for customer service excellence as well.
Have you ever searched for a business on Google, only to be frustrated by inaccurate information on their listing, such as the wrong location or hours of operation? This is a common issue that can result in negative reviews and damage to the brand’s reputation, ultimately leading to lower search rankings and lost revenue.
Imagine driving down Sheikh Zayed Road and seeing a compelling billboard for a new shoe brand. Excited by the prospect of checking out their products, you turn to Google to find their locations, only to be met with incomplete and unreliable information. Would you go out of your way to visit a store with an address listed as ‘Unnamed Road’? It’s a crucial detail that’s often overlooked by creative OOH agencies - once they’ve captured the buyer’s attention, it’s important to make the journey to the store just as effortless and straightforward.
Think of the Google Maps listing or any maps listing as the final mile between your brand and a sale. Google is a very generous platform. The more information you feed it; the more customers Google will give you. The Google Maps listing, also known as a Google Business Profile (GBP), is a powerful tool that enables potential customers to quickly find, learn about, and engage with a business.
In many cases, the brand owner’s marketing team is burdened with the responsibility to claim, update, geocode, optimize, and
manage their multiple retail locations on Google Maps and other platforms like Apple Maps, Siri, Petal Maps, Yandex Maps, Bing Maps, WhatsApp and more. It’s not fair to ask the marketing person to do this. What do they know about geocoding, addressing, category optimization and Local SEO? That is why Local Knowledge is a “We Do It For You” service.
You would not be your own dentist, why would you be your brand’s digital location management specialist? Ask your marketing team “What are we doing to optimize for the Google 3 Pack?” If you don’t get an answer, Local Knowledge would be happy to talk about it. For more info, you may visit www.localknowledge.ae
Manage it once, Get found everywhere!
In the heart of Iran, where ancient traditions intertwine with modern aspirations, a digital revolution has been silently reshaping the nation’s destiny. Faced with the formidable hurdles of international sanctions, a group of visionary trailblazers emerged, ready to script a new chapter for their beloved country through the realm of E-commerce.
Leading the way was Digikala, an e-commerce pioneer, bringing ease to Iranian homes with a wide range of products. From browsing to doorstep delivery, Iranians embraced the newfound power to fulfill their desires conveniently, all from the comfort of their homes. Yet, challenges emerged. Digikala had to find creative solutions due to international barriers, using local resources to navigate the obstacles. Each trial they faced only made them stronger, and their exceptional online shopping experience became a symbol of unwavering Iranian innovation.
As the digital tide surged, another entrepreneurial dynamo took the stage – the Snapp Group. Amidst the legendary traffic congestion in Tehran, they saw an opportunity to revolutionize commuting. And so, Snapp Taxi was born, offering a reliable lifeline to tired travelers. Iranians embraced this transformation, hailing rides with ease through a user-friendly mobile app. Yet, the story didn’t stop there – driven by determination, they also introduced Snapp Food, bringing a variety of flavors to hungry people right at their doorstep.
Meanwhile, in the financial landscape, Asan Pardakht emerged as a trailblazer for cashless transactions. This visionary company aimed to bridge the gap between Iran’s past and future, promoting digital transformation. Amidst the struggles, their user-friendly mobile app and secure payment solutions revolutionized the way Iranians paid bills, booked flights, and conducted daily transactions.
In every bustling Iranian city, Divar, an online marketplace, knit connections and fostered camaraderie. Iranians from all backgrounds embraced it, weaving a fabric of ads, searches, and local trade. Despite global challenges, Divar remained steadfast, nurturing a community of trust and shared bonds.
And finally, Sheypoor emerged as a beacon of hope for local commerce. Iranians found solace in this platform, connecting buyers and sellers within their communities. Even amidst constraints, Sheypoor’s mission to drive economic growth and forge bonds among communities remained steadfast.
As the stories of these pioneering e-commerce companies intertwined, a powerful narrative of resilience, innovation and hope emerged. They had overcome challenges that would have deterred many, and in doing so, transformed the way Iranians lived, worked, and connected.
The digital revolution in Iran was not merely about business – it was a testament to the spirit of progress that thrived within the nation. As the sun set on each day, Iranians looked forward to a brighter digital tomorrow, where determination and ingenuity continued to shape the nation’s future.
Milad Izadfar Market Development Manager SinapMilad, is the Market Development Manager at Sinap, boasts a proven track record in information technology and services. Milad’s expertise covers Cloud Computing, Channel Partnerships, Managed Services, Enterprise Software and barcode and RFID solutions provider (AIDC). His innate leadership and commitment to innovation continually elevate him as a valuable asset, consistently delivering impactful contributions and inspiring his colleagues.
Together, these brave entrepreneurs had redefined what was possible, proving that with a shared dream and unwavering spirit, they could overcome any obstacle that stood in their way. And so, the story of e-commerce pioneers in Iran continued to inspire and captivate, leaving an indelible mark in the hearts of the nation and beyond.
15 minutes from Abha International Airport – and with road networks leading to the surrounding cities of Jeddah, Makkah, Jazan, Riyadh, and Taif – the hotels are set to become a well-connected, frequently-visited urban destination, and position Abha as a leading leisure tourism destination in Saudi Arabia which is targeting 10 million visitors annually.
ABHA, Saudi Arabia – Hilton (NYSE: HLT) announced it has signed two hotels under its flagship Hilton Hotels & Resorts and lifestyle Canopy by Hilton brands in Abha city’s iconic The Point development. The properties have been signed with Red Sea Aseer Fund, a fund made up of unitholders from Red Sea Markets and the Tourism Development Fund, and a project developed by SEDCO Development and managed by Saudi Fransi Capital. The announcement follows the signing of Hilton´s Memorandum of Understanding with the Saudi Tourism Development Fund to develop iconic leisure tourism destinations in Saudi Arabia.
Hilton The Point Residences and Canopy by Hilton
The Point will feature a combined total of 250 guest rooms, suites, and residences, paired with state-of-the-art facilities for guests to enjoy. The shared amenities are complete with an indoor pool, fitness centre, spa, multiple dining outlets, and a children´s pool and kids club. The hotels will also be well-positioned to cater for largescale leisure and business events, with 600 square metres of outdoor event space, a 500-squaremetre ballroom, and 250 additional square metres of meeting space.
Located in The Point, the hotels will be adjacent to a mixed-use urban centre featuring world-class retail, food, and family entertainment offerings, as well as medical and sporting facilities. Less than
Commenting on Hilton’s growth in Saudi Arabia, Carlos Khneisser, Vice President, Development, Middle East & Africa, Hilton, said, “Saudi Arabia’s rapid evolution continues to provide exciting growth opportunities for Hilton, and we’re working with our owners to introduce more award-winning hospitality brands in locations throughout the country. Unlocking and pioneering destinations is part of Hilton’s DNA and these latest signings are strong examples of our diversified growth in upand-coming, large-scale developments as well as our commitment to grow in secondary cities with our world leading portfolio of brands.”
Commenting on the signings, Mohammed Alawi, Chairman of the Executive Committee, Red Sea Markets Co Ltd, said, “Hilton has continued to meet Saudi Arabia’s drive for travel and tourism, and the recent signings of these properties in Abha are strong examples of the company’s commitment to development in secondary cities and to cater towards an ever-evolving tourism demographic and more diversified product offering. We’re thrilled to be partnering on Hilton The Point Residences and Canopy by Hilton The Point and look forward to expanding Hilton’s world-class hospitality to more guests across Saudi Arabia.” Read More….Source: Stories Hilton (https://bit.ly/3DQP6WO)
According to unaudited accounts for the half to June, group sales were up 5% to US$251 million while tax-paid profits attributable to shareholders reached $24.29 million during the year – an increase of 97%.
Online sales grew at 8.2% during the period, notably in Greater China while adjusted EBITDA totalled $66.4 million.
Performance in Southeast Asia remained strong with Indonesia and Thailand being the main profit drivers, buoyed by heightened tourist arrivals, the company said.
“The group will continue to upgrade its brand image by deploying more resources on marketing and defending its selling prices in the inflationary environment.
Hong Kong-listed apparel retailer Giordano says all three of its core markets – Greater China, Southeast Asia and the Gulf Cooperation Council – reported sales growth during the half.
With substantial progress to date, the affordable clothing brand is “cautiously optimistic” about maintaining profitability as it pursues growth in developing countries, it said in a stock exchange filing in Hong Kong.
“The group is also carrying out extensive in-house training in generative artificial intelligence. We aim to equip our staff with the requisite skills ahead of the competition,” it said. Source: Inside Retail Asia (https://bit. ly/3QyahnV)
and uses non-renewal decisions to evolve the retail category mix, a key company objective. Cenomi Centers’ strategic focus on growth is evident in the accelerated progress of its construction pipeline. U Walk Jeddah is now complete and already circa. 80% pre-let. Flagship developments, Jawharat Jeddah and Riyadh, will bring state of the art, first of their kind features, attractions and unique luxury offerings to the Kingdom and the region. Jawharat Riyadh is expected to open in Q2-25.
Cenomi Centers, the largest owner, operator and developer of shopping malls and complexes in the Kingdom of Saudi Arabia, posted its financial results for the three months and half-year ended 30 June 2023. The company reported solid performance in H1-23 totaling SAR 1.1billion in revenue, a 5.5% y-o-y increase. Revenue remained stable with a marginal increase of 0.4% y-o-y in Q2-23.
EBITDA in H1-23 grew 19.3% y-o-y to SAR 902.8 million and net profit increased 103.3% y-o-y to SAR 725.1 million for the same period. This was driven by an increase in the top-line, net fair value gains recorded in Q223, and the sale of the Al Raed district land,
part of the non-core asset sale program, for a SAR 238.7 million profit recorded in Q1-23. In Q2-23, net profit increased 82.3% y-o-y to SAR 337.1 million on net fair value gain in investment properties.
With this backdrop, Cenomi Centers has continued to deliver on its growthoriented strategy in the first half of 2023 and leveraged positive pricing dynamics to grow net rental revenue by 7.8% y-o-y from renewals and re-lettings. Occupancy has temporarily been reduced to 91.4% as the company now adopts a more stringent approach towards underperforming tenants
Alison Rehill-Erguven, CEO, Cenomi Centers, commented: “The first half of 2023 has been excellent for Cenomi Centers. The results demonstrate the efficacy of our strategy to deliver continuous growth by offering Saudi shoppers, who continue to increase their spending as the economy grows, the experiences they desire. This can be seen by the exceptional footfall, which increased 33.5% year on year to 63.1 million, which I expect will lead us to a new post-pandemic record level. We also saw strong rental revenue growth of 7.8% and a 19.3% increase in EBITDA. Owing to this, the board announced half yearly cash dividends disbursement of SAR 413.3 million. ReadMore… Source:MENews(https://bit.ly/3s7Ywup)
This achievement is a testament to our vision and the tireless efforts of our dedicated associates. We are also making significant strides beyond the borders of the UAE, having recently ventured into the retail pharmacy market in other countries.”
“With a strong emphasis on illness prevention and overall well-being, Life Pharmacy goes beyond traditional illness management by prioritizing health and wellness. The brand firmly believes that a healthy population leads to a happy society,” he added.
Life Healthcare Group, UAE’s leading homegrown healthcare company and owner of the country’s largest pharmacy outlet chain, has announced the launch of its 400th pharmacy cementing its leadership position in the healthcare sector. The expansion reaffirms Life Healthcare as a major player in the region, offering the most comprehensive range of pharma, skincare, beauty, lifestyle, wellness, supplements, vitamins, and medical equipment solutions to residents.
Since its establishment, Life Healthcare Group has emerged as a pioneer in healthcare retailing
in the UAE, redefining the way people access essential medical services. With the launch of its milestone 400th pharmacy outlet, Life Pharmacies maintains its position as the largest pharmacy network in the UAE.
Commenting on the launch of the new pharmacy, Mr. Abdul Nazar, MD & Chairman –Life Healthcare Group said, “We are delighted to announce this incredible milestone for Life Pharmacy. For the past 27 years, we have been dedicated to making healthcare accessible and affordable to all people in the community.
Mr. Adam Abdul Nazar, Deputy CEO – Life Healthcare Group said, “Our mission is to foster an environment that empowers customers to prioritize their well-being and find inspiration in their journey to wellness. We are taking a momentous leap forward in our dedication to providing customers with an unmatched retail experience. This new milestone exemplifies our unwavering commitment to becoming the preferred neighbourhood pharmacy, offering enhanced access to our loyal customers right next door.”
Read More…Source: Web-Release (https://bit. ly/456rI3y)
Line Investments & Property, the shopping mall development and management arm of Lulu Group International, and Star Cinemas have entered a joint venture to launch cinema screens across the UAE and the region, they said on Monday.
Star Cinemas currently operates 76 screens, and the venture will be adding 22 more –nine screens at Al Wahda Mall and three at Al Raha Mall in Abu Dhabi, and six screens at Al Foah Mall and four screens at Barari Outlet Mall, Al Ain.
“At Line Investments, we believe in delivering exceptional customer experiences and providing a diverse range of shopping experience. We are delighted to partner
with Star Cinemas to lead the entertainment facilities in our malls. Their commitment to excellence aligns perfectly with our vision, promising an immersive and captivating movie-going experience that sets new standards of entertainment for our patrons,” said MA Ashraf Ali, Executive Director of Lulu Group International.
“We are truly thrilled and honored to partner with Line Investments & Property LLC in this exciting venture. The journey commences soon with the opening of 22 screens and commencement of work at Dubai Silicon Oasis, followed by Sharjah Central and RAK Mall in Ras Al Khaimah. Besides being the largest movie distributor in the Middle East
we will also now be the second largest cinema operator in the UAE,” said Ahmad Golchin, Chairman Phars Film and Star Cinemas.
The signing ceremony was held at the Lulu Regional Office, Al Qusais, and attended by MA Ashraf Ali, Ahmad Golchin, Satyajit Pendharkar, Chief Operating Officer of Star Cinemas, Wajeb Al Khoury, Director of Line Investment & Property, and Biju George, General Manager Abu Dhabi region.
They also announced the opening of Star Cinemas in Dubai Silicon Oasis Mall, Sharjah Central Mall, and RAK Mall. The JV makes Star Cinemas the second largest cinema operator in the UAE, based on screen count. Source:Gulf News(https://bit.ly/3KwCozY)
The investment announcement follows the completion of Yas Mall’s Dhs500m redevelopment plan unveiled in 2021, which resulted in the transformation of the mall from a client journey, operating and financial performance perspective.
As with Yas Mall, Aldar will leverage its active asset management capabilities to emulate the outperformance witnessed by Yas Mall by enhancing financial operating performance and ultimately the asset values of Al Jimi Mall and Al Hamra Mall.
UAE’s Aldar Properties has unveiled a $136m (Dhs500m) investment plan to redevelop the Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah – two of the property firm’s key retail portfolio assets in the country. The investment takes Aldar’s committed spend on redeveloping key retail assets to Dhs1bn.
The property firm has approved a redevelopment plan for Al Jimi Mall to enhance the customer journey and reinforce its position as the mall of choice for residents and visitors in Al Ain. The plan aims to increase the gross leasable area by
20 per cent to 91,000 sqm and introduce new anchor retailers, premium international brands, and popular food concepts. The mall will remain open to customers with the project expected to be fully completed by Q1 2025.
Following the acquisition of Al Hamra Mall in February 2022, Aldar’s redevelopment plan for the mall reimagines its spaces through a refurbishment of the façade, expanded F&B offerings, and the introduction of additional wellloved brands. With work already underway, the project is being rolled out in phases and is set to be completed in mid-2024.
“Our investments in Al Jimi Mall and Al Hamra Mall enable us to cater to evolving customer needs and create vibrant retail destinations for all, in line with global retail trends,” said Saoud Khoory, Chief Retail Officer at Aldar Investment.
“The redevelopment plan for Al Jimi Mall is a gamechanger for the retail scene in Al Ain and helps us deliver long-term value for the community. We are also delighted to be furthering our investment in Ras Al Khaimah as the emirate continues to show strong growth potential as a hospitality, tourism, and residential destination.” Read More…
Source:GulfBusiness(https://bit.ly/3s9Frbe)
Fat Brands has opened 66 new units so far this year, including 25 in Q2, according to Fat’s latest quarterly release. The company plans to open 175 total units this year. That growth is driven by new franchising agreements, Board Chair and Former CEO Andy Wiederhorn said. “In 2023, we have signed over 150 new franchise development deals, bringing our total pipeline to over 1,100 signed agreements. This represents over 50% EBITDA growth over the next several years,” Wiederhorn said in the Q2 results announcement. “They are quickly developing many Fatburger and Buffalo’s Express locations in addition to Round Table Pizza locations which is part of an 80-store development deal for the state, the first of these stores are set to open soon in San Antonio,” Taylor Wiederhorn said in the press release.
Source: RestaurantDive–(https://bit.ly/3DRzjqv)
Tapestry, the fashion conglomerate behind Coach and Kate Spade, will acquire competitor Capri Holdings in a $8.5 billion deal announced Thursday. The transaction will create an American fashion giant that — while still not quite as large as its European competitors — will be better positioned to compete in the luxury market. It brings together six fashion brands: Tapestry’s Coach, Kate Spade and Stuart Weitzman and Capri’s Versace, Jimmy Choo and Michael Kors. Together, the company will have the size and scale to reach more customers across the globe and better compete in the luxury market, Tapestry CEO Joanne Crevoiserat said on a call Thursday morning. In a CNBC interview, she said the acquisition will help Tapestry reach a broader base of customers across ages and incomes. Read More…Source:CBNC(https://bit.ly/47vJX48)
During its first few days in theaters, “Barbie” ranked in $337 million globally in the box office, the largest opening weekend of 2023 so far. But even before the numbers came in, “Barbie” was a merchandising hit. The film had been generating hype for months, thanks to a star-studded cast, beloved director, dazzling aesthetic – and a seemingly endless array of Barbie-themed merchandise. In June, brand strategist Moshe Isaacian started keeping track of the official partnerships on Twitter. A scroll through his thread shows, among other things: A gaming console, pair of shoes, hotel, house, insurance commercial, a candle, rugs, nail polish, roller blades, a toy car, a lunchbox, dog apparel, a toothbrush and several other items emblazoned with the Barbie logo, awash in hot pink. Isaacian has posted about roughly 50 partnerships. Read More… Source:CNN (https://bit.ly/3KCAqye)
Two “robotaxi” firms have been given the green light to start charging for service throughout San Francisco. The move marks a major expansion for the companies, which previously faced limits on when or where they could charge for rides. Approval from regulators came despite objections from police and fire officials, activists and others. Analysts say the decision could usher in a new era for driverless car services. Waymo, which shares a parent company with Google and has been offering free rides in its driverless cars throughout San Francisco riders since last year, called the decision “the true beginning of our commercial operations in San Francisco”. Rival Cruise, a subsidiary of car giant General Motors - which has predicted the business could be generating $1bn in annual revenue by 2025, described the moment as a “historic industry milestone”. Read More… Source:BBC(https://bit.ly/3QBbOJW)
Mattel has confirmed that its new theme park in Arizona will open in 2024. The company has also released additional details about the park’s Hot Wheels and Barbie attractions. Per a press release, Glendale’s upcoming Mattel Adventure Park will be a year-round facility with two Hot Wheels coasters – Hot Wheels Bone Shaker: The Ultimate Ride and Hot Wheels Twin Mill Racer. The former is an 84-foot-tall family coaster featuring the hot rod skull design, while the latter offers a double loop and two corkscrews. “Mattel Adventure Park is an amazing opportunity to bring our beloved brands to life,” said Julie Freeland, Senior Director of global location-based entertainment (LBE) at Mattel. Construction is underway and substantial progress has been made on what will give fans of all ages a day of thrills and nostalgia. Read More… Source:Blooloop(https://bit.ly/3qyFInu)
Amazon’s strong quarterly results are one more sign that Americans are still shopping, despite months of ominous economic indicators, and could be a positive signal for Walmart and Target, who report next week. The e-commerce giant reported a 4.2% jump in sales on Amazon.com and a 6.4% jump in sales at its physical store operations, which include Amazon Fresh, Whole Foods and Go convenience stores, for the second quarter ended June 30. Walmart (WMT.N) and Target (TGT.N), the two biggest retailers in the United States, have set a cautious tone for the rest of the year. But despite rising interest rates and credit card debt, Americans are still spending. David Klink, Senior Equity Analyst at Huntington Private Bank, said he saw “encouraging” signs in Amazon’s results. Read More…Source: Reuters (https://bit.ly/3YwmnzQ)
Relive the moments from our successful Gregory Vogt School for Retail Professionals Training Program, held on June 19-20, 2023, where brilliant minds of industry professionals came together for inspiring sessions and engaging discussions. Heartfelt thanks to all who made the 2023 GVS Training an exceptional journey of learning and growth. Special appreciations to our remarkable GVS instructors for their inspiring presentations, and congratulations to all our students who embraced this enriching experience. See you next year! Mark your calendar – June 24-25, 2024.
A night of Connections and Camaraderie!
The Clock Towers Shopping Center is part of The Clock Towers Complex, which strategically falls in the heart of Makkah. It is the greatest meeting point for cultures coming from around the world as it welcomes more than 20 million visitors every year. The Clock Towers Shopping Center is o ering leasing services for you to grow your business by joining our team. Tenants can benefit from a variety of amenities provided by our shopping center.
For more information and inquiries contact us on leasing@theclocktowers.com and provide us with more details of your business.
