ISSUE 38 | FEB - APR 2024
Circulated in 60 Countries
M A G A Z I N E
DECADE OF INNOVATION
Featuring: Meshaal Bin Omairh Group CEO Al Othaim Investment Co. Beyond retail : “Meshaal Bin Omairh orchestrates Al Othaim's multi-billion dollar leap, crafting spaces that redefine Saudi living, one visionary project at a time.”
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AL RASHID MALLS A Decade of Innovation Revitalizing The Shopping Experience
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BURJUMAN MALL's B HUB Discover the Heartbeat of Community
DEVELOPERS P18 RETAIL In A Race For Completion
WELCOME “Advice is like snow: the softer it falls, the longer it dwells upon, and the deeper it sinks into the mind.” – Samuel Taylor Coleridge WELCOME TO OUR MEMBERS, SPONSORS & READERS ON THE COVER: Meshaal Bin Omairh Group CEO Al Othaim Investment Co.
Thank you to DR. YOUNIS AL MULLA MECS+R Board Chairman Senior Vice President Business Devt. & Govt. Affairs Majid Al Futtaim Retail Dubai, United Arab Emirates
DUAIJ AL RUMAIHI MECS+R Board President Mall Director, City Centre Bahrain Majid Al Futtaim Properties Manama, Bahrain
MECS+R BOARD OF DIRECTORS LIZELLE FITOUSSI MECS+R Board Vice President Director - Marketing Merex Investment Group Dubai, United Arab Emirates
DAVID HUESSER MECS+R Board Treasurer Dubai, United Arab Emirates
MOHAMMAD AL QAED MECS+R Board Member Acting Chief Commercial Officer Seef Properties Manama, Bahrain
SAAD ZUBERI MECS+R Board Member Executive Director Lucky Landmark Private Limited Karachi, Pakistan
Genesis and the Year of Re-Ignition Sad news and happy news are a feature of the team at MECS+R recently. Our Director for over a decade, Lea Venezuela, has moved with her family to Winter Park, Florida. Lea has been the rock of support for the team and me through the years. Her calm demeanor and wise counsel are her legacy. We love the fact that her life is entering a new and exciting phase with her family in Florida. On the other hand, we do miss her steady hand on the tiller back in the office. Happily for the team, we have a brilliant new Director, Ian Baldonanza. Ian, who is a natural leader, has been with the MECS+R team for many years and understands the business inside and out. Without skipping a beat the team is Re-Ignited with great purpose. We have added new talent to the team. ‘Ruf’ Rufaidh Rismin is our new creative genius. More new team members are arriving soon ensuring the continuity of the great service to our members remains unparalleled. Meshaal bin Omairh, Group CEO at Al Othaim Investment is on our cover and feature cover exclusive story. He discusses the monumental growth of this totally reenergized and unrecognizable new organization. In line with Saudi Vision 2030, Al Othaim Investment is currently investing $3.2 billion in new mixed-use and retail legacy projects in Saudi. Al Rashid Malls and our Regional Representative in Saudi, Shaukat Ali Khan, has penned an article on the remarkable growth and success of the Saudi Bonyan Company. One of the original shopping centres in Dubai, BurJuman Mall has created a new experiential concept called B Hub. Certainly, it is worth your time to review this novel approach as a community destination in shopping centres. Colliers' consulting team Mansoor Ahmed and Mariam Mahmooth feature an article on the changing dynamics in the retail environments. An article which was penned by me highlights the dramatic changes taking place now in the online world in the UK. Surprising findings. Philip Matta, Group COO at W Group, writes about the revolution in retail media. Dhruv Verma, Founder and CEO of Thriwe explains how he has brought together the powerhouse banking industry in the UAE creating seamless ecosystems where finance, shopping habits and technology join forces. Avijit Yadav, turning a page in his career writes on the joys and benefits available to all of us to utilize business coaching, mentoring and counselling to reach the heights not previously contemplated. Our team at the MECS+R is excited to see you again this year and to connect with you in person showcasing our many exciting plans for 2024 during our 30th Anniversary year in operation. RECON in Riyadh at the Mandarin Oriental, Faisaliah Hotel on November 4 & 5th. Our first RECON event in Riyadh. Already our massive exhibition floor is filling up, our sponsors are committing to us 9 months before the event kicks off. We are preparing to host the largest ever RECON Retail Congress in the MECS+R history. You our members and retail professionals are contributing to the third book of the trilogy, Souks to Malls, Retail Evolution in the Gulf – The People. Be sure to reach out to our team quickly to become part of this new coffee table sized history book of The People who have made the retail industry what it is today. Together with the greatest minds in the industry, you will continue to hear and learn from each other, sharing knowledge and collaborating together. Thank you for your unending support for our organization now in our 30th year!!
DAVID MACADAM
DUAIJ AL RUMAIHI
Chief Executive Officer MECS+R
Board President | MECS+R Mall Director | City Centre Bahrain
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The Middle East Council of Shopping Centres & Retailers 2nd Floor, DAC Office 207, Unit No. 4, The Offices 2 One Central, DWTC, P.O. Box 9292, Dubai, UAE Tel. No. +971 4 516 3061 Mob.: +971 56 548 1380 Website: www.mecsr.org www.retailcongressmena.com
David Macadam Chief Executive Officer david@mecsc.org
Christian Baldonanza Director ian@mecsr.org
Khaye Comanda Finance Director khaye@mecsc.org
03 WELCOME REMARKS SIGNATURE SPOTLIGHT: COVER EXCLUSIVE 06 Al Othaim Investment – The Ambitious Expansion Featuring: Meshaal Bin Omairh, Group CEO Mariz Matocdo Marketing Officer customercare@mecsc.org
Karishma Lakhwani Events & Marketing Manager marketing@mecsc.org
Al Othaim Investment Co.
CENTRE STAGE BUZZ 14 Al Rashid Malls: A Decade of Innovation Revitalizing the Shopping Experience
16 Discover the Heartbeat of Community at BurJuman Mall’s B Hub
INTERACTIVE TREND REPORTS Sandhya Rajan Business Development Database Executive dealmaking@mecsc.org
Rufaidh Rismin Digital Content and Innovation Executive media@mecsc.org
PUBLISHED BY: The Retail People Magazine www.mecsr.org/rpm CONTACT US: Mariz Matocdo | +971 56 548 1380 / +971 55 551 7605 WE WANT TO HEAR FROM YOU! If you would like to contribute an article, place an advertisement for our next issue or share your comments, suggestions or ideas, contact customercare@mecsc.org
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18 Retail Developers in a Race for Completion 20 Elevating Urban Planning with A Focus on Retail and F&B: Catalysts for Positive Urban Environments
MARKET MIX 22 Retail Business Cycles, Market Saturation or Both? 24 Evolution and Role of Entertainment in the Shopping Centre Industry
25 What’s W Group’s Secret Recipe for Revolutionizing Retail Media? 26 Thriwe’s Odyssey in Navigating UAE’s E-Retail Revolution 27 Modernizing the Mall, From Parking to Checkout 28 From A Scratched Bumper to SafeZone
CONTENTS
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INSPIRE & ACHIEVE 30 Is This The Best You Can Do? 32 Create A Living Legacy EVENTS GALLERY 34 Highlights from the 29th Annual Retail Congress MENA 2023 38 Honoring the Outstanding Achievements of the 2023 MENA Shopping Centre & Retailer Awards Winners
MENA RETAIL ROUNDUP 56 Chinese New Year: Dubai Welcomes the Year of the Dragon with Citywide Celebrations Dubai Outlet Mall to ‘Speed Up’ Retailer Occupancy Before Ramadan Mall of Muscat Unveils Vision with New Experiences and Dynamic Additions Dubai Retail Giant Apparel Group to open 29 stores, expand to Philippines
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Saudi: Retail Unveils Development Agreement Worth $12.8mln Majid Al Futtaim Lifestyle Unveils Poltrona Frau Disclaimer: The viewpoints, articles and opinions contained in the Retail People Magazine are not necessarily those of MECS+R.
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COVER EXCLUSIVE
“AL OTHAIM INVESTMENT THE AMBITIOUS EXPANSION
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eshaal Bin Omairh is the Group CEO of Abdullah Al Othaim Investment Company. He boasts an impressive 30-year career in finance, navigating the complex landscapes of multinational and multi-divisional companies. His track record is demonstrably one of success, marked by progressively increasing responsibilities and a consistently motivational approach. His leadership experience includes roles as Chief Executive Officer and Board Member of Mohammad Abdulaziz Alrajhi & Sons Investment Co. from 2018 to 2021, and Acting Chief Executive Officer of Manafea Investment from 2019 to 2021. In addition to being a retail giant, Al Othaim Investment Company, a top 50 Gulf real estate developer in 2023, is a multi-faceted force in Saudi Arabia’s development. With 12 commercial complexes, including four Al Othaim Malls across the Eastern Province and two in Riyadh, the company’s reach extends to Qassim, Hail, and Arar. Al Othaim also holds interests in hospitality, real estate, entertainment, cinema, fashion, and more, with 23 diverse projects currently shaping the kingdom’s future. The awardwinning Kunooz in Riyadh stands as a testament to their innovative vision. WHAT ARE SOME OF THE KEY ACHIEVEMENTS AND CONTRIBUTIONS OF AL OTHAIM INVESTMENTS IN 2023?
For over 20 years, Al Othaim Investments has strived to be a beacon of innovation, development, and economic prosperity in Saudi Arabia. We’re known for our pioneering spirit, and we’ve built an impressive portfolio in retail, F&B, entertainment, residential, and commercial complexes, creating spaces that not only redefine shopping experiences but also serve as the heart of vibrant, connected communities.
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As a pivotal player in Saudi Arabia’s Vision 2030, we’re committed to amplifying the nation’s socio-economic landscape and enriching individual lives. We’ve delivered projects worth a staggering $1.97 billion (SAR7.4 billion), with over $3.2 billion (SAR12 billion) currently under construction - a testament to our dominant presence and unwavering dedication. Over 2023, we achieved significant milestones by implementing our strategy and laying the groundwork for an even stronger expansion. We forged strategic partnerships with esteemed entities like the Tourism Development Fund, the Quality of Life Programme, and the Ministry of Municipal and Rural Affairs and Housing, solidifying our commitment to holistic growth and collaboration. Our recent projects have significantly elevated our portfolio. We launched Konoz Riyadh, a $1.86 billion fully integrated community featuring commercial offices, entertainment, retail, F&B, cinema, a luxury hotel with serviced apartments, and premium residential spaces. Ko n oz R i ya d h e m b o d i e s o u r d e d i c at i o n to sustainability, with 15,000m2 of green areas aligned with the green Riyadh City initiative. We’ve also unveiled Al Othaim Mall in Jubail and Mithneb, Al Othaim Multi-use in North Riyadh, and expanded Rabwah Mall and Khurais Mall in Riyadh. Additionally, we’ve initiated mixed-use developments in Madinah and Khamis Mushait. Each of these projects is strategically located and features state-of-the-art designs, reflecting our commitment to creating spaces that are not only functional but also visually appealing and seamlessly integrated into their surroundings. Furthermore, we proudly marked a new chapter in Hail with the groundbreaking of Al Othaim City Centre, our
"We've built an impressive portfolio in retail, F&B, entertainment, residential and commercial complexes, creating spaces that not only redefine shopping experiences but also serve as the heart of vibrant, connected communities."
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COVER EXCLUSIVE
$27 million (SAR100 million) major development, which represents a key piece of our expansion strategy, solidifying our position as a leader in integrated development projects that nurture hospitality, tourism, entertainment, and shopping experiences. The project offers 48,000m2 of prime rental space and 7,000m2 of open-air possibilities, featuring international-standard hotel, diverse shops, a delectable array of restaurants, exciting entertainment options, a state-of-the-art cinema, open-air sports shops, and a convenient supermarket.
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Driven by a passion for excellence, our vision is to be the region’s premier destination for living, shopping, and entertainment. We believe in building communities that uplift the quality of life and foster vibrant, enjoyable experiences for all. This commitment extends beyond our commercial e n d e avo u r s ; we a c t i ve l y e n g a g e i n s o c i a l responsibility through a spectrum of programs and activities, including Abdullah Al Othaim’s $26.65 million (SAR100 million) donation to Jood Housing and consistent contributions to over 100 charity organisations.
AL OTHAIM INVESTMENT: THE AMBITIOUS EXPANSION Al Othaim Investment Company embarks on a $3.2 billion expansion, establishing new companies, launching 23 multi-use projects, and creating 50,000 direct and indirect jobs. Al Othaim Investment, a diversified group spanning real estate, entertainment, F&B, and fashion retail, has achieved remarkable success with its recent launch of numerous companies and development projects. The company is currently in a phase of high activity and diligent efforts as part of its strategy to establish significant multi-use projects and enhance existing ones to align with its comprehensive investment approach. This endeavour is in line with the historic economic transformation taking place in the kingdom under the Saudi Vision 2030. It reflects the company’s commitment to the vision’s strategic objectives, bolstering its presence through diverse and comprehensive investments that leverage the integrated and systematic capabilities of its group companies.
This approach serves investment purposes and contributes to a qualitative shift in the economy, supporting the national Othaim Park, Dammam economic landscape. Presently, the company is actively engaged in completing projects valued at over $3.2 billion (SAR12 billion). These projects are characterised by their qualitative nature and multipurpose functionality, further solidifying the company’s leadership, precedence, and investment capacity in the field of development. They embody modern designs that prioritise sustainability, enhance the elements of quality of life and happiness, and make significant contributions to the national economy. THE BOX OF TREASURES DEVELOPMENT “KONOZ” Taking the lead among these groundbreaking initiatives is the striking “Konoz” project, spanning an expansive area of 114,000m2 and boasting a budget exceeding. Situated north of Riyadh, between King Fahd and Al-Olaya roads, this project stands out for its comprehensive investment and development approach, its incorporation of captivating aesthetic elements, its adherence to the highest sustainability and quality standards, and the exceptional nature of its designs crafted by the renowned international consulting firm, Benoy.
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COVER EXCLUSIVE Ideally situated in the heart of the action, the project boasts convenient access to King Khalid International Airport, the King Abdullah Financial Center, King Salman International Airport, and direct connectivity to the metro line. Within its expansive footprint, it holds a bustling commercial centre, spanning over 120,000m2 of rental space, a prestigious global hotel with 250 hotel rooms, luxurious living spaces, modern office facilities, and a captivating enclosed entertainment city spread across 20,000m2, all d e s i g n e d to e l eva te R i ya d h ’s to u r i s m a n d entertainment scene. Ample green spaces and extensive parking add to its appeal, making it a truly unique and desirable destination. ENTERING THE HOSPITALITY MARKET Expanding its reach and fostering local talent, the company is making waves in the hospitality industry. By launching a dedicated hotel and hospitality subsidiary and collaborating with key players like the Saudi Tourism Fund, Al Othaim is positioned to be a major force in the market. Poised for growth, the company plans to unveil 14 international hotels, boasting over 2,000 units. These luxurious accommodations will not only attract renowned international restaurants and offer premium services, but will also create a substantial number of jobs in various fields, both directly and indirectly. In its commitment to empowering Saudi nationals, the company has already commenced creating numerous job opportunities, achieving a remarkable 70% localisation rate. Through its multifaceted projects and newly established companies, it aims to create an additional 50,000 direct and indirect jobs for Saudi employees, significantly contributing to lowering national unemployment rates. Further demonstrating its commitment to social responsibility, Al Othaim succeeded in achieving a 36% female participation rate, actively promoting gender equality within its workforce. Investing in the future of Saudi Arabia, the company has provided over a million hours of training to young individuals. This initiative aims to equip them with essential skills, preparing them for fulfilling careers within the company and beyond. By nurturing highly qualified talent, the company is empowering young Saudis to play a vital role in building a prosperous nation. SCAN TO KNOW MORE
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CENTRE STAGE BUZZ
AL RASHID MALLS: A DECADE OF INNOVATION REVITALIZING THE SHOPPING EXPERIENCE
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n today’s ever-evolving retail landscape, malls are no longer just places to shop; they are destinations for experiences, connections, and community engagement.
Al Rashid Malls across the cities of Abha, Jazan and Madina are popular destinations for locals and foreigners. Offering a diverse array of shops and dining options, there's something to delight every palate. Our malls uphold high standards of maintenance, guaranteeing a pleasant shopping ambiance. Whether you seek premium brands or budget-friendly choices, Al Rashid Mall caters to all preferences. Additionally, our amiable and accommodating staff ensure that every guest's needs are met throughout their visit. We are evolving into vibrant, dynamic spaces that cultivate social interaction, entertainment, and memorable experiences. The rebranding of our mall has been instrumental in this evolution, empowering us to redefine our identity, appeal to new audiences, and maintain a leading position in a progressively competitive market.
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SHAUKAT ALI KHAN Chief Executive Officer Saudi Bonyan Co. MECS+R Regional Representative KSA Riyadh
Shaukat Khan is a visionary leader and seasoned professional in real estate and retail development. As the CEO of Saudi Bonyan, a prominent player in the Saudi Arabia Real Estate sector, Shaukat has been at the forefront of driving innovative and sustainable projects that redefine the landscape of the Kingdom’s urban spaces. He also serves as the Regional Representative of MECS+R in Saudi Arabia, actively contributing to the advancement of the region's retail sector.
At the core of each successful rebranding endeavor lies a compelling brand narrative. It entails a profound comprehension of the mall's heritage, its significance within the community, and the aspirations of its target audience. By crafting a storyline that deeply resonates with consumers on an emotional level, we establish a robust brand identity. This is exemplified through the introduction of esteemed and rapidly expanding brands such as Zara, Tommy, Marks and Spencer, Michael Kors, Sephora, Kiko, Calvin Klein, Next, Adidas, Pull & Bear, Dior, Lacoste, Guess, Puma, Goex, Rituals, Charles & Keith, American Eagle, Damas, L'azurde, Starbucks, Tim Hortons, Paul Café, and many others. We understand that rebranding is a continual journey that demands consistent evaluation and refinement. We set transparent metrics for success and consistently monitor our progress against these standards. Whether it involves analyzing foot traffic, sales metrics, customer satisfaction ratings, or social media engagement, we actively collect data and feedback to assess the efficacy of our rebranding endeavors. This enables us to identify areas for enhancement and adjust our strategies accordingly, ensuring that our rebranding initiatives maintain relevance and make a lasting impact in the long run. Saudi Arabia has experienced notable economic growth in recent decades, with the retail sector
emerging as a pivotal contributor to the country's development. Within this sector, malls have transformed into major hubs for shopping and entertainment, drawing millions of visitors each year. The Al Rashid Malls located in Abha, Jazan, and Madinah are dedicated to pioneering the evolution of malls for the future. We recognize that the future of retail hinges on achieving a harmonious blend of digital innovation and hospitality. With this in mind, we are wholeheartedly committed to delivering an exc e p t i o n a l s h o p p i n g ex p e r i e n c e t o o u r customers—one that seamlessly integrates the finest elements of both realms. Amidst the transformative changes in Saudi Arabia, including visionary leadership, the Riyadh Expo, and the Vision 2030 initiative, S audi Bonyan, development arm of Abdulrahman Saad AlRashid & Sons Company is steadfast in its belief regarding the growth potential for its partner brands. The company is confident that surpassing expectations is achievable through effective strategies and a dedicated focus on visitor satisfaction. Saudi Bonyan aims to cultivate a loyal following and extend its influence by prioritizing exceptional visitor service, delivering top-notch products, and staying abreast of the latest industry trends. Visit us: www.saudibonyan.com.sa
Al Rashid Mall Jazan
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CENTRE STAGE BUZZ
DISCOVER THE HEARTBEAT OF COMMUNITY AT BURJUMAN MALL’S B HUB
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n the bustling heart of Dubai, where the vibrant spirit of the city meets the essence of community, BurJuman Mall proudly unveils its latest gem – The B Hub. This innovative community space, nestled on Level 3, transcends the traditional mall experience, transforming into a cultural haven that unites people from all walks of life.
B Hub: Beyond a Physical Space B Hub is not merely a physical location; it's a dynamic space where connections are forged, collaborations bloom, and memories take root. This cultural hub is set to become the epicenter for social interaction, offering a diverse range of activities that go beyond the conventional mall experience.
A Celebration of Community BurJuman Mall has always been more than just a shopping destination; it's a place where joy is celebrated, and memories are woven into the very fabric of its existence. In keeping with this ethos, the launch of B Hub on January 16 marked a significant step towards fostering a stronger sense of community.
From engaging workshops and networking sessions to invigorating fitness classes and delightful coffee mornings, B Hub is designed to cater to the varied tastes and interests of Dubai's diverse social landscape.
The launch event, attended by esteemed members of the Philippine Business Council, Consulate General of India, Philippine Consulate General in Dubai, Xpatz Hub, iBrandConnect, Dans, and many more, was a testament to the collaborative spirit that defines B Hub.
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Partnerships: A Breath of Fresh Air Starting January 23, B Hub proudly partners with Ancient Yoga to offer complimentary yoga sessions every Tuesday and Thursday morning. These free sessions, open to the community for registration, operate on a first-come-first-serve basis (max 25 participants). It provides a rejuvenating opportunity to embark on a holistic wellness journey.
A Sneak Peek into the Future BurJuman Mall invites the community to stay tuned for more exciting details about upcoming workshops and classes at B Hub. Whether you're a budding artist, an aspiring entrepreneur, or simply looking to connect with like-minded individuals, B Hub promises to be the go-to destination. If you're inspired to be a part of this vibrant community space, B Hub welcomes partnerships and bookings. Visit the B Hub to explore the possibilities and contribute to the tapestry of shared experiences that define Dubai's social landscape.
Join Us at B Hub: Where Community Spirit Thrives So, mark your calendars and be a part of the evolving narrative at B Hub – where community spirit thrives, connections flourish, and memories are etched in the heart of Dubai. For more information and updates, visit burjuman.com or follow @BurJuman on Instagram, Facebook, and TikTok. Come, join the celebration at B Hub – your space, your community, your heart.
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INTERACTIVE TREND REPORTS
RETAIL DEVELOPERS IN A RACE FOR COMPLETION ANTHONY SPARY Director | Head of Office Investor Leasing & Retail CBRE | Advisory & Transaction Services Anthony has been working in the region for the past 10 years providing strategic support to commercial clients across multiple asset classes. He heads both the Retail Occupier Services and Investor Leasing teams for the region, overseeing a range of business lines including tenant representation, landlord leasing services, retail consultancy and offers strategic advice to both local and international clients.
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etail space in the Middle East has faced unprecedented demand since the pandemic. Developers and retailers alike have been profiting from the effective handling of the pandemic, strong economic growth and outlook, marked increases in visitor footfall and a promising development pipeline. This backdrop has meant that over the last 12 to 24 months, the region continues to face a distinct shortage of good quality supply, particularly in the regional/super regional categories. Even amidst exceptionally strong demand over the recent past, retailer demand remains extremely strong across the vast majority of categories, with many brands struggling to find space within their desired locations. New-to-market brands are finding it particularly challenging to find suitable space within their preferred locations given the lack of churn within existing assets and limited future supply in the short term. The knock-on effect of this is essentially stifling growth across the region. Brands already operational
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within the region are the real beneficiaries from the current market conditions as they’re able to react quicker to the pace of the market, being able to undertake their due diligence far quicker than new market entrants and have a better understanding of the nuances of each respective market. Similarly, as a result of this demand, developers have reverted to a less flexible leasing model, reducing lease incentives, lease flexibility etc., where generally the market is now very much landlord focused. We’ve also seen rental rates increase exponentially over the last 12-18 months with certain assets achieving 40% year-on-year increases which is a staggering number when you consider where the market was prior to the pandemic. Unfortunately, this has led to landlords adopting a “take it or leave it” approach when it comes to transactions, rather than taking a longer-term strategic view on their retail mix. This is something that we had all hoped would disappear from this region. This short-sighted approach will likely no doubt be remembered by retailers when the market inevitably re-calibrates when the next wave of supply is introduced.
As is now common across the region, the limited available space remaining to brands is located in secondary or tertiary assets and or locations. Such assets and locations either showcase a lack of build quality or sufficient management and maintenance. Pent up demand is therefore preferring to wait for opportunities to arise within prime locations, albeit these are extremely limited, as opposed to committing to an asset that doesn’t accurately reflect their brands’ DNA.
With such a significant quantum of space set to be delivered across the region over the medium and longterm, there is clearly a race for the developers to capture commitments from the current wave of demand, in an effort not to find themselves delivering assets with significant void periods and extended operating costs. Being the last to the party in this regard could be catastrophic to any chance of longterm viability.
Another major risk is the number of developers pursuing their own strategies and timelines without giving suitable attention to what their competitors are planning. It is critical to ensure that each retail development set to be delivered offers a unique selling point and stands out from the existing retail landscape. As it stands, there are too many similar schemes being planned, which is likely to lead to significant cannibalisation, stifle growth and ultimately could create a significant oversupply issue in the region. We remain hopeful that the lessons The largest quantum of supply in the region is without learned from past cycles remain at the forefront of question due to be delivered within Saudi Arabia over these strategies and history does not in this case the next three to five years, with many of the well- repeat itself. known giga projects such as NEOM, Qiddiya, Diriyah Gate set to release phases of their masterplans. This is As always, we at CBRE see this as a huge opportunity alongside an expected new wave of supply from large for growth across the region, however, phasing and existing landlords such as Cenomi, who are set to sufficient planning will be vital to the success of these deliver a range of new assets in the not-too-distant future developments. Should we return to a world of future. Not only will this be a welcome relief for oversupply then this could create significant retailers in the region but we can also expect these downward pressure on the market as a whole and retail schemes to be delivered to a very high could swing the balance from the developer to the specification, showcasing international best practice retailer for many years to come. operating procedures and a new benchmark of retail accommodation in the region. During the pandemic, development risk was at an alltime high with the vast majority of upcoming projects being placed on hold or cancelled completely. Saudi Arabia was the only notable market to buck this trend, whereby construction largely continued, albeit at a slower pace. This lull in construction has further fuelled the supply and demand imbalance that we’re now facing, and it will take a number of years before we see this swing in the favour of the retailers.
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INTERACTIVE TREND REPORTS
MANSOOR AHMED Executive Director Colliers in MENA for Destination Consulting
ELEVATING URBAN PLANNING WITH A FOCUS ON RETAIL AND F&B: CATALYSTS FOR POSITIVE URBAN ENVIRONMENTS
Mansoor Ahmed is the Executive Director of Destination Consulting, and the Head of Development Solutions, Healthcare, Education & PPP at Colliers in the MENA region since 2010. He has over twenty years of experience in consulting and applied economic research.
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ansoor Ahmed, Executive Director at Colliers in MENA for Destination Consulting highlights: “Urban planning transcends the mere physical structure of a city; it is about creating spaces that thrive on social dynamics, health, and interconnected communities. In this context, the integration of retail and Food & Beverage (F&B) elements emerges as a pivotal driver for shaping positive built environments. Such an approach not only enhances social engagement but also contributes to the overall wellbeing of residents, fostering a vibrant and sustainable community." Price Points and Premiums: Unveiling the Impact of Retail and F&B Elements According to Mariam Mahmooth, Senior Director at Colliers in MENA for Destination Consulting: “the intrinsic value of mixed-use developments lies in their social infrastructure, a fact evident when analysing their price points. Notably, the inclusion of elements like a supermarket, water views, and high-performing schools significantly contributes to attracting premium property values. Research conducted by Lloyds Bank in the UK suggests living near a Waitrose supermarket can command a premium of up to 22.5%, according to Online Money Advisor. Additionally, wide water views can contribute to an 18% premium, as indicated by the International Journal of Housing Markets and Analysis. The presence of high-performing schools, as per the
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MARIAM MAHMOOTH Senior Director Colliers in MENA for Destination Consulting
With over 14 years of experience in the real estate sector within the region, Mariam has a background in key master plans and new city developments, and is currently serving as a Senior Director at Colliers in MENA.
Changing Dynamics: F&B as the New Anchor The retail landscape has witnessed a dramatic shift where F&B has become the new “anchor”, even within shopping malls. The integration of coffee shops, restaurants, medical clinics, and other supporting retail and community facilities adds a distinctive personality to developments. Colliers' research indicates that a lively street scene not only meets the lifestyle needs of community residents but also creates habitual traffic flow, translating into higher retail spending density. Centre for Economic Performance, can impact property prices in the surrounding area by 3% to 12%”. Comparative Analysis of Regional Markets: Dubai, Cairo, Riyadh, Jeddah, Abu Dhabi, Muscat, and Doha Colliers' recent report delves into the fundamental components shaping mixed-use developments, drawing a comparison between prominent regional markets. Notably, Dubai and Cairo showcase diverse approaches, with Dubai catering to expatriates and Cairo focusing on the local demographic. The analysis extends to other markets, emphasising the key elements that create added value in house prices.
Beyond Location: People-Driven Investments Mariam concludes “Traditionally, residential investments were driven solely by location. However, today's return on investment is intricately linked to people-centric elements within a development. The successful integration of social elements, including retail and F&B, emerges as the glue that holds a development together, determining its success and contributing to added hedonic value. In conclusion, the convergence of social infrastructure, retail, and F&B within mixed-use developments becomes the focal point for creating thriving, interconnected, and value-driven urban spaces."
The Inner Additional Components: Creating Value in Mixed-Use Developments Mansoor further adds “Colliers, with over 25 years of regional experience in advising mixed-use projects, underscores that well-designed mixed-use projects with a seamless alignment of retail and social infrastructure can command price premiums ranging from 15% to 45%. These percentages escalate significantly when considering factors like developer brand, proximity to retail, education, healthcare, and walkability.” The Impact of Community Retail and F&B: A Paradigm Shift In an era where communities are becoming hubs for social interaction, the importance of community retail and F&B cannot be overstated. Colliers' research indicates that a development with sustainable retail facilities can achieve a price premium of 15% to 20% compared to communities with limited retail facilities. The Gen X segment, constituting over 60% of the resident population in major cities, actively seeks sociable communities, emphasising the need for adequate provisions for retail and F&B within developments.
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MARKET MIX
RETAIL BUSINESS CYCLES, MARKET SATURATION OR BOTH?
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he Financial Times newspaper on January 11, 2024, featured a leading article in the business section written by Laura Onita. Surprising and unexpected were the findings on the current health of UK’s online retailers. Reading this article was an eye opening for me as a student of retail. As many of us are aware, over the past years virtually anything written in the news was highlighting the growth and success of online retail globally. The pandemic came and online sales flourished. Millions were invested by those seeking to cash in on the success of online sales locally, regionally, and globally. Laura Onita confirmed in her article what the majority of physical retail shop owners already know. She verifies “most clothes are still sold in shops.” “The renewed interest in physical shops is a remarkable reversal from 2020 and 2021.” As we
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also know, “Customers want to be able to shop everywhere, anytime.” Online clothes retailers have seen their shares in the UK stock market plummet in 2023. Those with bricks and mortar stores have generally rebounded. For example, Asos, Boohoo and Zalando which are publicly listed online retailers have seen their stocks dramatically collapse in the recent past. Old Stalwart Department Stores including Marks & Spencer and Frasers have seen a positive resurgence in the value of their share price due to the return of shoppers to the physical realm with an increase in sales. Other challenges faced with online retailers include the high rate of return of products sold particularly fashion items. The cost of logistics including packaging, the cost of last mile delivery and pickup
have all reduced the profitability of online sales. Consolidation of online companies is predicted in 2024 as the shoppers continue to return to the physical stores. The market today is reported to have too many online retailers in the UK with a decline in the overall quantities and values purchased online. Refreshingly for the industry the most successful retailers whether online or traditional are now focused and driven to achieve profitability. The traditional bricks and mortar retailers will continue to invest in profitable ways to expand their online business which will place more pressure on some of the less established online businesses. Primark for example has recently reported that it will expand its click and collect business in the UK in the next two years.
David Macadam CEO - MECS+R David is a Canadian expat and resident of the UAE for over 20 years. He brings with him a wealth of 40+ years’ experience in the retail industry globally. David has held senior executive roles in leading regional shopping centre development and management companies. Executive VP Emaar Properties, Senior GM AFGRE, Regional Director JLL, Director Leasing Msheireb, CEO Real Estate Al Othaim Investments, Advisor to Group CEO Al Othaim Investments and Board Member ESAS Properties, Turkey. Since 2013 David continues to lead as CEO the Middle East Council of Shopping Centres and Retailers (MECS+R) with over 1,100 shopping centres and 1,000 retailers regionally.
Given the mature characteristics and early success of the UK online retail industry, in the GCC region and beyond, we will stand by to see how the online business is affected regionally. With the financial pressure currently in the online retail industry in the UK, perhaps it is wise to monitor closely how other countries manage the fallout in the event the online business is impacted closer to home.
Recognized as a leading retail expert in the MENA Region, David has been featured on various news channels, including CNN, BBC, Bloomberg, Dubai One, City 7 Dubai TV, and Dubai Zee TV. He is also a frequent commentator on business radio Dubai Eye 103.8. Providing business insights as a distinguished expert in the retail industry he is a regular commentator on the GCC property markets.
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MARKET MIX
EVOLUTION AND ROLE OF ENTERTAINMENT IN THE SHOPPING CENTRE INDUSTRY
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he evolution of entertainment in malls reflects a broader s h i f t t owa rd s e n g a g i n g experiences for visitors beyond traditional retail. It has primarily been influenced by changes in consumer preferences, technology, and the ever-evolving global retail landscape.
Hitesh Mirani, CRRP General Manager McARTHUR Retail Development Specialists
At McARTHUR Retail Development Specialists, Hitesh leads the retail advisory team providing comprehensive consulting, planning and management services to owners of shopping centre developments around the globe. He has actively managed consulting and leasing assignments for diverse retail assets including master plan developments, regional malls, lifestyle destinations, community centres, hotel & casino retail in many countries including UAE, KSA, Kuwait, Bahrain, Oman, Qatar, Jordan, Kenya, Morocco, and Philippines. He believes that while retail development comes with its own unique potential and challenges, at the heart of it lies the sole purpose of enhancing shopper experience.
World Water Park at West Edmonton Mall
Dubai Aquarium at Dubai Mall RETAIL PEOPLE | FEB - APR 2024 .24
Magic Planet and Vox Cinemas, is a standout leader in this category. Recognizing the rising demand for entertainment, malls began focusing on diverse dining options, transforming the shopping experience into a social and culinary event. This shift made family entertainment centres, indoor theme parks, and experiential dining Entertainment adds an extra areas mainstream. dimension to the shopping experience, making visits to the mall Today, entertainment is an integral more enjoyable and memorable. part of the modern shopping mall This transformation enhances the experience. Concepts like Ski Dubai overall appeal of the mall as a are synonymous with Mall of the destination where people not only Emirates, Dubai Aquarium with shop but also socialise, connect, and Dubai Mall, and Ferrari World with Yas Mall. enjoy leisure activities. Leading from the front is Triple 5 Group that is considered the pioneer and global leader of entertainment concepts in shopping centres. Starting with West Edmonton Mall in in 1981, best known for an indoor beach & water park in the middle of a landlocked province; followed by Mall of America in 1992 that has brought many original entertainment concepts to malls that have now become regional staples, and more recently the American Dream Mall that continues to push boundaries.
These concepts enhance visitor enjoyment while strategically positioning shopping centres for success in a dynamic retail landscape. Engaging activities provide positive and memorable experiences for visitors of all ages in a family-friendly environment, ensuring broad and lasting appeal. Moreover, entertainment options stimulate longer mall stays, resulting in increased spending on retail, food, and other services. It is important to remember that not all shopping centres can have entertainment. The size of the centre, the competitive landscape of the market share & the trade area potential are some critical factors to consider beforehand with a team of experienced consultants.
Traditional malls in the GCC region 1980s were primarily shopping destinations, focusing on department store anchors, small retail s to re s a n d f o o d co u r t s . T h e entertainment wave in Dubai was started by Sindbad with a modest 1,600 sqm arcade that opened at Al Based on the target audience, Ghurair Centre, UAE’s first regional spending potential & market gaps; mall. our team at McARTHUR Retail Development Specialists works with To attract families, malls introduced new-to-the-market and tried-andlarge family entertainment centres tested entertainment concepts to in the 1990s. For instance, Deira City assist them in securing prime spaces Centre integrated a multiplex in leading shopping centres in the cinema during this period. Majid Al MENA region. Futtaim Group, particularly with
MARKET MIX
WHAT'S W GROUP'S SECRET RECIPE FOR REVOLUTIONIZING RETAIL MEDIA? In the evolving landscape of advertising, Retail Media stands out as the fastest-growing sector, offering unprecedented opportunities for brands to connect with consumers. However, as the industry booms, stakeholders are encountering barriers that pose challenges to maximizing investments. Leading the charge in overcoming these challenges, W Group, driven by its subsidiaries Hypermedia and DigitAll, holds the secret recipe for reshaping the landscape of retail media in the UAE with state-of-the-art technologies.
H
ypermedia, a regional leader in Digital Out-of-Home (DOOH) and Retail Media, has joined forces with DigitAll, the tech arm of W Group and the exclusive representative of Advertima technology in the GCC region. Together, they are reshaping the retail landscape by introducing innovations such as real-time audience measurement, data analytics, smart trigger ads, and AI targeting. The aim is to turn the shopping journey in the UAE's prominent malls and supermarkets into an engaging experience, fostering a meaningful connection between brands and consumers. This synergy between Hypermedia and DigitAll has given rise to an ecosystem where personalized messaging and deals cater to individual shopper preferences, creating a seamless and optimized experience. The Creators of Impact at Hypermedia are unlocking countless measurable marketing opportunities, empowering marketers to maximize their ROI. The impact of this innovation is particularly evident in the arsenal of analytics tools now available. These tools promise credible, real-time reporting, showcasing vital metrics such as audience traffic, impressions, qualified views, and view times. This level of validation for ad performance, coupled with the ability to discern top-performing ads, marks a significant turning point in the Retail Media landscape.
Philip Matta Group COO, W GROUP
Philip Matta brings over 26 years of advertising and OOH expertise, credited as an industry trailblazer. Pioneering point-of-purchase advertising 20 years ago, he remains a driving force in Digital OOH and retail media innovation. A key figure in establishing the UAE's largest digital signage network across 47 malls, over 268 hypermarkets and Dubai Metro stations, he continues to shape the sector's landscape.
Across the UAE, Hypermedia's Retail footprint is felt in 47 strategically located malls, where it engages with over 500 million shoppers annually through a network of 1,127 LED screens. This extensive reach is not confined to malls alone; it extends into the heart of communities with over 268 hypermarkets, connecting with a vast audience of 312 million shoppers yearly via 559 screens. These numbers paint a vivid picture of the expansive network that positions Hypermedia as a true regional leader in both DOOH and Retail Media. Concerns and Solutions According to the Interactive Advertising Bureau (IAB) Europe Retail Media Standards Survey 2023, there is a gap of 33% between buyers and sellers regarding the importance of measurement and reporting. To bridge this gap, W Group emphasizes the implementation of effective real-time measurement methodologies backed by data, offering a solution to this challenge through smart signages powered by Advertima technology.
For Hypermedia, Retail Media takes center stage in its newly launched dynamic website, hypermedia.ae . This dedicated platform underscores the significance of Retail Malls a n d I n - S to re n e t wo r k s , p rov i d i n g a specialized focus that aligns with the company's commitment to innovation and customer engagement.
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MARKET MIX
THRIWE’S ODYSSEY IN NAVIGATING UAE'S E-RETAIL REVOLUTION
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mbark on a journey through the digital realms of the United Arab Emirates, where a captivating revolution is unfolding under my guidance as the Founder and CEO of Thriwe, Dhruv Verma. With a tapestry woven from 19 years of diverse roles in renowned institutions, I recognized the immense potential for e-commerce in the UAE. Fuelled by a forward-thinking infrastructure and propelled by government initiatives like Smart Dubai 2021, we set the stage for a distinctive blend of banking, loyalty, and retail - a new era in consumer engagement. Thriwe, under my stewardship, emerges not merely as a participant but as a commanding force in the UAE’s dynamic e-commerce landscape, transforming the synergy between prominent banks such as Emirates National Bank of Dubai, First Abu Dhabi Bank, Mashreq Bank, and retail ventures into seamless ecosystems where finance, shopping habits, and technology form a harmonious triad. As lifestyles in the UAE continue to evolve, we adapt, recognizing the migration from traditional commerce to the integrated solutions that cater to the contemporary consumer. In a nation with an illustrious smartphone penetration rate, we grasp the promising vistas of mobile commerce (M-Commerce), enabling financial institutions to offer intuitive shopping experiences through their loyalty platforms. This strategic approach amplifies both convenience and bespoke value to customers, facilitating instant and effortless transactions that are interwoven with personalized rewards and benefits. Our endeavour goes beyond mere transactions; it is a commitment to forging indelible connections where loyalty is nurtured, and every purchase is tailored to enrich the consumer's journey with the brand. With Thriwe's incisive vision, the UAE's e-commerce and banking sectors metamorphose – they are no longer disparate entities but a synchronized marketplace humming with tailor-made offers, loyalty programs, and strategic touchpoints that resonate with the discerning customer. As the digital silk threads are interlaced through the populous landscapes of the UAE's market, I, Dhruv Verma, and Thriwe ascend as the architects of an innovative epoch. RETAIL PEOPLE | FEB - APR 2024 .26
DHRUV VERMA Founder & CEO, Thriwe Dhruv is an entrepreneur, angel investor, and a TedX Speaker from India who has an interesting career history of 19 years. He has held a ranging role at ICICI, Standard Chartered Bank, Start - up Management, and Expansion at CPP Global. Also, Dhruv has served as a headcollage of sales, marketing, and distribution at Aircel. Join me as we steer businesses towards a future where every interaction is a chance to bloom, and every customer’s loyalty is the heart of the digital odyssey. This is more than a tale of e-commerce; it is my chronicle of ambition unfettered and potential realized in the flourishing tapestry that is Thriwe's passage.
MARKET MIX
MODERNIZING THE MALL, FROM PARKING TO CHECKOUT How mall operators and retailers can work together to reimagine the shopping experience.
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ne would think, as e-commerce continues to grow, that physical retail would be on the decline. But, this has proven false as consumers continue to seek a balance between inperson and online shopping experiences. As retailers look to strike a balance between innovation in their storefronts and e-commerce, mall operators have an opportunity to shift their spaces to integrate a variety of innovative technologies that support their retailers, improve customer experiences, and provide the basis for data-driven decisionmaking. Integrating AI and spatial Analytics into mall operations Spatial analysis refers to modeling location-specific problems, identifying patterns, and assessing this data to make decisions. These solutions are becoming integral for retail environments, like those provided by companies like Pathr.ai, Deep North, and Fyma, which use machine learning (ML) and artificial intelligence (AI) to collect live insights on visitors’ movements through the mall. Data-driven insights are instrumental to improving the mall for both visitors and tenants. Information collected can help owners improve foot flow through the mall, increase conversion from common areas into stores, and provide advertisers with more concrete insights on audiences. Improving the end-user experience with “friction less” parking technology Parking is a customer’s first and last point of contact during their trip to the mall. Creating an improved parking experience for shoppers has to be a priority for operators and can be improved with various digital and physical enhancements. By implementing amenities such as Reserved Parking, and technologies such as license plate recognition (LPR), property owners have a powerful tool that creates a “hands free” experience for their shoppers and provides a reason for those same shoppers to provide personal information to access and pay for spaces.
DAVID BLUMENFELD
KYLE SPENCER
Co-Founder, Next Rivet
Co-Founder, Next Rivet
David Blumenfeld and Kyle Spencer are Co-Founders of NextRivet, a consultancy focused on supporting the implementation of innovative technology solutions into retail real estate. NextRivet goes beyond simple opportunity identification and solution recommendation, taking it a step further into partner matching, implementation and project launch.
Maximizing the retail sales floor through centralized fulfillment As e-commerce has grown, the physical store has proven to be a critical “warehouse” in providing goods that are closer to the customer. However, most stores are not set up to hold this additional inventory. By offering centralized fulfillment, the mall can support its retailers’ omnichannel efforts with additional storage, streamlined “pick and pack” operations, and costsavings on local deliveries through package aggregation. Implemented correctly, this is a “win-win-win” in terms of fulfilling the needs of the consumer, improving operational efficiencies for the retailer, and generating more income for the mall. Mall operators must innovate to remain relevant In a rapidly evolving retail landscape, mall owners and operators find themselves at a critical crossroads. By actively leveraging innovative strategies and technology to shape the retail experience and stay relevant in the face of evolving consumer expectations, they will rise above the competition and become invaluable to their retailer partners.
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MARKET MIX
FROM A SCRATCHED BUMPER TO SAFEZONE
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n the daily hustle and bustle of city life, where every corner tells a story, the scratches and dents on our cars are often an overlooked story. Having experienced the frustration of the sound of a door or bumper slamming in tight parking spaces, I embarked on a journey that led to the creation of SafeZone - a solution that emerged from personal experience and a deep commitment to improving parking safety. The Unfortunate Encounter Imagine this: It's Friday evening. I have to catch a movie that starts in 10 minutes. There is no space in the parking lot. I park in a narrow parking lot in a hurry, open the door and hear that annoying slamming sound. A dent in the door. I had no idea that this frustrating moment, which I have experienced many times, would lead to an innovative product idea. From Frustration to Innovation These bad experiences led to reflection on the inadequacy of parking lots. Yes, there were parking lots with corner protectors, but these products could be as damaging as the column itself. SafeZone was born from the desire to create a product that not only protects structures but also prioritizes the well-being of vehicles. The Personal Mission Beyond business, SafeZone is a personal mission to redefine the way we approach parking safety. Its lightweight design, strong adhesive and stunning visibility are not just features; they are a response to the frustrations felt by countless people who have had the same bad parking experience. The vision behind SafeZone is about creating spaces where every car owner can park their vehicle without that sinking feeling.
S.BURAK BORA General Manager SafeZone
Burak Bora, is a seasoned professional with over 30 years of diverse experience in senior executive roles across the Telecommunications, Retail Products, and Entertainment sectors. Throughout his career, he has excelled in providing strategic management consultancy services to corporate entities. He serves as the General Manager of SafeZone, infusing the organization with his wealth of knowledge and leadership. Fluent in Turkish, English, and German, he combines linguistic versatility with a wealth of cross-sector expertise.
A Call to Join the Movement SafeZone is not just a product; it is an invitation to a movement. A movement that envisions a world where every parking lot is a safe haven, where dents and scratches are memories of the past.
Shock 20 mm Reflecting Absorbent Thickness Coating Reflecting on Impact As SafeZone gains recognition, interest and adoption, stories of scratched bumpers and frustrated car owners will become a thing of the past. The impact of this journey will be to contribute to a safer parking experience and scratch-free Self Ultra Easy vehicles driving around the city. Adhesive Lightweight Installation Conclusion In every innovation there is a personal story - a moment that drives individuals to create solutions SafeZone idea is a proof of the power of turning personal frustration into positive change. Join us on this journey and let's redefine the parking safety narrative together. Visit SafeZone's website at www.safezone.systems to learn more about the story behind SafeZone and how you can be part of the movement. Because at the end of the day, SafeZone's mission is not just about protecting cars; it's about protecting the experiences and journeys of every individual navigating the urban landscape. RETAIL PEOPLE | FEB - APR 2024 .28
INSPIRE & ACHIEVE
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INSPIRE & ACHIEVE
CREATE A LIVING LEGACY INSPIRING INSIGHTS FROM A LADY THAT TRULY HELPS PEOPLE SOAR
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onja Piontek is a powerhouse of inspiration. She is a global TOP 100 keynote speaker, bestselling author and award-winning executive coach. Sonja successfully helps high performing individuals from around the world create meaningful success beyond the realms of profit, pressure and performance. This dynamic German has lived in six countries with an impressive corporate career. She left the BMW Group as Director of Marketing for BMW Asia in 2017. Since then, she has worked with top level individuals and leading global brands such as Google, Airbus, Siemens and IBM. Sonja thrives in seeing her clients succeed. Her focus is on implementation, results and achieving maximum ROI. In October 2023, Sonja Piontek was the Keynote Speaker at the annual RETAIL CONGRESS MENA held in Dubai. We had the opportunity to speak to Sonja about her life and her drive.
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SONJA PIONTEK Award Winning Executive Coach Top 100 Keynote Speaker Bestselling Author
Sonja Piontek is known for the incredible results she achieves with her clients as well as her unusual approach. During her powerful coachings, she often takes her clients on transformative expeditions through the Namib Desert, to the vast plains of Mongolia or in her Alpine chalet. Sonja looks back on an impressive global career and knows perfectly well what it takes to overcome challenges, soar high and become a living legacy. More about Sonja and her inspiring work here: www.sonjapiontek.com
You left a successful executive career with one of the most esteemed global brands? Why? Leaving the BMW Group was an incredibly tough but conscious decision. I didn't leave because it was too much, I left because it was too little. I could feel that there was more in life for me to explore and that beyond the comfort zone there would be a universe of opportunities. But trust me, it can be rather difficult to take that first step and many people back off at this stage. Yet, if you pull through it is one of the most empowering things you can do. I have witnessed countless people have incredible success once they found the courage to leave the safety of their status quo. How do you help people find that courage? The work with every client is different. At the core of my work as an executive coach lies the following: identifying who a person truly is, what unique gifts and superpowers they have, what drives them as well as what slows them down and finally what makes them happy – and I mean a happy beyond simple monetary success. Once this is clear we work on the goals, the mindset and the implementation and I give my clients the tools they need to fully spread their wings and successfully fly to the next level in their lives.
What tips can you give our esteemed readers for the challenges in their lives? Challenges and tough times are part of life, we need to learn to deal with them as best possible. The first step is to accept them for what they are and allow ourselves to feel vulnerable, overwhelmed, intimidated or sad. But then something needs to happen: we need to actively decide to move on, learn and grow. At times, this however seems almost impossible…That’s when we need to ask for help. I myself only learned the concept of asking for help way into my 40s, during a time when my life had fallen apart, and I couldn’t go on anymore on my own. Receiving this help is a wonderful gift and something I highly recommend to anyone who wants to overcome challenges, unleash their full potential and finally soar to beautiful heights.
How would you describe your style of work? Unusual. Impactfull. Intense. I want my clients to succeed beyond what they deemed possible. I want them to create a living legacy. This is only possible with uncommon approaches, brutal honesty, passionate focus and everybody’s full commitment to maximum results. We normally withdraw for a few days in my Alpine chalet or go on extreme expeditions in the Namib Desert, Mongolia or the Himalayas – the environment fully supporting the transformation that is taking place.
Why does this style work so well? From years of working with high performers I can say one thing: people that have achieved a lot and want to achieve even more need crystal clear feedback as much as they need to be taken out of their environment for transformation to best happen. Being in an invigorating environment totally different to what they are used to helps bring focus on what really matters to them and what can be achieved. I am no fan of unrealistic visions, loose targets and fluffy dreams that never come true. I love to see my clients succeed in finding purpose and b u i l d i n g s u cce ss way b eyo n d t h e i r u s u a l accomplishments and sheer monetary results.
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The Prestigious 29th MENA Shopping Centre and Retailer Awards recognize outstanding achievements across all categories of Retail, Design and Development, NOI Enhancement, Traditional Marketing, and the MENA Retail Professional of the Year.
BEST MENA RETAIL BRAND This accolade celebrates retailers exemplifying comprehensive success, gauged through a blend of financial prowess, diverse product offerings, innovative marketing strategies, and exceptional customer service programs. SILVER AWARD
SNOW CITY - ABDULLAH AL OTHAIM LEISURE
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SILVER AWARD
MONOPOLY LIFE-SIZED RIYADH - AL HOKAIR GROUP
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COCOMELON PLAYDATE - AL HOKAIR GROUP
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RETAIL EXCELLENCE This category applauds excellence across diverse retailer segments in the region, highlighting winners who have showcased innovation and creativity, translating into exceptional performance and commercial triumphs. SILVER AWARD
SPARKY’S AL RASHID MALL - AL HOKAIR GROUP
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MONOPOLY LIFE-SIZED RIYADH - AL HOKAIR GROUP
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COCOMELON PLAYDATE - AL HOKAIR GROUP
GOLD AWARD
AL HOKAIR TIME MAKKAH - AL HOKAIR GROUP
SERVICE EXCELLENCE The Service Excellence Award for Data Analytics, Property Management, and Retail Consultancy Services acknowledges providers who seamlessly blend technology products with professional expertise to address specific challenges faced by retailers. This includes resolving issues or seizing innovative opportunities, particularly during demanding construction or refurbishment phases.
DATA ANALYTICS SILVER AWARD
SHOPPERTRAK
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XPANDRETAIL POWERED BY SÀVANT
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VEMCO GROUP
DÉCOR & DESIGN INSTALLATION SILVER AWARD
THELEISUREWAY
RETAIL CONSULTANCY SERVICE SILVER AWARD
VINDICO PROJECTS MANAGEMENT SERVICES LLC
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McARTHUR RETAIL DEVELOPMENT SPECIALISTS
SILVER AWARD
MUCHMORE CONSULTANCY
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TECHNOLOGY & INNOVATION SILVER AWARD
SILVER AWARD
CONIQ
YARDI SYSTEMS
SILVER AWARD
SILVER AWARD
CENTRIC DMCC
VINDICO PROJECTS MANAGEMENT SERVICES LLC
PROPERTY MANAGEMENT GOLD AWARD
YARDI SYSTEMS
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DESIGN & DEVELOPMENT The Design & Development Category honors outstanding retail properties that demonstrate exceptional creativity in revitalizing and expanding existing centres, as well as pioneering the development of entirely new properties.
RENOVATION & EXPANSION SILVER AWARD
CAIRO FESTIVAL CITY MALL - AL FUTTAIM MALLS
GOLD AWARD
GOLD AWARD
SOUQ7 - AZAD PROPERTIES
OMAN AVENUES MALL - LULU GROUP INTERNATIONAL
NEW DEVELOPMENTS SILVER AWARD
SHARJAH CENTRAL - LINE INVESTMENTS & PROPERTY LLC
SILVER AWARD
AL LIWAN - SEEF PROPERTIES BSC
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GOLD AWARD
UNIFIED REAL ESTATE DEVELOPMENT
RETAIL STORE DESIGN The Retail Store Design Category acknowledges the integral role of professional design in enhancing the success of kiosks, outlets, stores, or concepts within the dynamic shopping centre industry. SILVER AWARD
PLAYOCITY POWERED BY HASBRO - AL HOKAIR GROUP
GOLD AWARD
MONOPOLY LIFE-SIZED RIYADH - AL HOKAIR GROUP
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SILVER AWARD
SEOUDI EL SHOROUK BRANCH - WANZL MIDDLE EAST
GOLD AWARD
MARINA HOME INTERIORS
NOI ENHANCEMENTS This category celebrates champions who have successfully implemented programs and initiatives designed to directly boost revenue and elevate the net operating income of a single shopping centre or across the entire company. These initiatives encompass strategic sponsorships, impactful alliances, inventive leasing strategies, and the effective implementation of operational efficiencies and cost-saving measures.
LEASING SILVER AWARD
SILVER AWARD
SILVER AWARD
DUBAI FESTIVAL CITY MALL AL FUTTAIM MALLS
DALMA MALL
AL RASHID MALL AL KHOBAR DANAH REAL ESTATE
MARKETING / SPONSORSHIPS SILVER AWARD
SILVER AWARD
AL MARYAH RETAIL COMPANY
GOLD AWARD
DUBAI FESTIVAL CITY MALL - AL FUTTAIM MALLS
GOLD AWARD
RED SEA MALL
BURJUMAN MALL
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OPERATIONS & OVERALL TEAM SILVER AWARD
SILVER AWARD
KINAN INTERNATIONAL REAL ESTATE DEVELOPMENT COMPANY
OPM BY OLAAT REAL ESTATE
SILVER AWARD
SILVER AWARD
LUCKYONE MALL
DALMA MALL
TRADITIONAL MARKETING / MARKETING EXCELLENCE ADVERTISING The winners in this category employed innovative, creative and cost-effective strategies to promote their centres to their targeted markets. SILVER AWARD
CITY CENTRE DEIRA - MAJID AL FUTTAIM PROPERTIES
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SILVER AWARD
SAHARA CENTRE
CAUSE-RELATED MARKETING Winners in this category have implemented events, programmes and projects to directly benefit charitable organizations or to support a community need, interest, or cause. SILVER AWARD
SILVER AWARD
OMAN AVENUES MALL LULU GROUP INTERNATIONAL
CITY CENTRE ALMAZA MAJID AL FUTTAIM PROPERTIES
SILVER AWARD
SILVER AWARD
TIMES SQUARE CENTER
SILVER AWARD
FAMILY MALL SULAYMANIYAH
MALL OF MUSCAT
GOLD AWARD
GOLD AWARD
CITY CENTRE BAHRAIN MAJID AL FUTTAIM PROPERTIES
AL MARYAH RETAIL COMPANY
GOLD AWARD
DALMA MALL
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CUSTOMER EXPERIENCE AND/OR ENGAGEMENT This category recognizes exceptional centre initiatives and services implemented to enhance the customer experience, or to benefit consumers, employees, suppliers, shareholders or the community at large. SILVER AWARD
SILVER AWARD
SILICON CENTRAL LINE INVESTMENTS & PROPERTY LLC GOLD AWARD
RED SEA MALL
GOLD AWARD
CENOMI CENTERS - THE GARDEN
DALMA MALL
DIGITAL CAMPAIGNS & SOCIAL MEDIA Winners in this category have employed social media components and/or digital technology as the primary means to communicate their marketing strategy. Examples of these components include Facebook, Twitter, Instagram, Pinterest, YouTube, Blogs, QR Codes, Mobile Apps or location-based services. SILVER AWARD
KINAN INTERNATIONAL REAL ESTATE DEVELOPMENT COMPANY
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SILVER AWARD
CENOMI CENTERS
SILVER AWARD
SILVER AWARD
SAHARA CENTRE
GOLD AWARD
CAIRO FESTIVAL CITY MALL - AL FUTTAIM MALLS
GOLD AWARD
MEREX INVESTMENTS GROUP LLC
DALMA MALL
GRAND OPENING, EXPANSION & RENOVATION The winner in the Grand Opening, Expansion and Renovation category executed comprehensive marketing campaigns to introduce a new centre or to reposition a newly expanded or renovated centre. SILVER AWARD
SILVER AWARD
DALMA MALL
SOUQ7 - AZAD PROPERTIES
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NEW / EMERGING TECHNOLOGY This category recognizes strategic programmes and plans that incorporate geo-targeting, audience profile management, artificial intelligence, machine learning, or virtual reality to achieve brand and marketing communication goals for a shopping centre or its parent company. SILVER AWARD
DALMA MALL
PUBLIC RELATIONS Winners in this category incorporated community or cultural initiatives into their programs to promote good will, whilst generating positive publicity to benefit their centre’s commercial interests. SILVER AWARD
LULU MALL FUJAIRAH LINE INVESTMENTS & PROPERTY LLC
SILVER AWARD
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AL WAHDA MALL LINE INVESTMENTS & PROPERTY LLC
GOLD AWARD
MEREX INVESTMENT GROUP LLC
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BURJUMAN MALL
GOLD AWARD
SOUQ 7 - AZAD PROPERTIES
GOLD AWARD
GOLD AWARD
SILICON CENTRAL - LINE INVESTMENTS & PROPERTY LLC
DALMA MALL
SALES PROMOTIONS AND EVENTS The winners in this category implemented promotions, programs, or events that had a direct, measurable and significant impact on retail centre sales and customer traffic. SILVER AWARD
SILVER AWARD
AL MOUJ MUSCAT - MAJID AL FUTTAIM PROPERTIES
SILVER AWARD
FESTIVAL PLAZA - AL FUTTAIM MALLS
SILVER AWARD
RED SEA MALL
MUSHRIF MALL - LINE INVESTMENTS & PROPERTY LLC
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SILVER AWARD
SILVER AWARD
MEHRAD MALL
MICA MALL
SILVER AWARD
DALMA MALL
GOLD AWARD
MEREX INVESTMENT GROUP LLC - CITYWALK
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GOLD AWARD
CAIRO FESTIVAL CITY MALL - AL FUTTAIM MALLS
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MAJID AL FUTTAIM PROPERTIES
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AL WAHDA MALL - LINE INVESTMENTS & PROPERTY LLC
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RETAIL PROFESSIONAL OF THE YEAR Our winners for this category have demonstrated innovative leadership and management techniques, have been instrumental in developing talent and skills from within their respective companies, and believe there is a symbiotic relationship between providing the customer with what he needs and the corporate bottom line. SILVER AWARD
SUSIL S. DUNGARWAL GOLD AWARD
YASSER AL KALTHAM GOLD AWARD
MESHAAL BIN OMAIRH
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PLATINUM SPONSORS
KINAN INTERNATIONAL REAL ESTATE DEVELOPMENT COMPANY
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RED SEA MALL & THE POINT
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REGIONAL ROUNDUP Chinese New Year: Dubai Welcomes the Year of the Dragon with Citywide Celebrations
Dubai Outlet Mall to ‘Speed Up’ Retailer Occupancy Before Ramadan – there is a cinema too
Gulf News (Read More: https://bit.ly/3SJMx0V)
The Dubai Outlet Mall will be filling up the new areas after the addition of a further 3.8 million square feet ahead of the crucial Ramadan and Eid retail season. The extension at the mall, located on Dubai-Al Ain highway, will also add a cinema, a farmer’s market and a LuLu hypermarket. It was in Q3-2023 that the mall completed the new extension, and retailers have been taking up spots and opening stores over the last two months. Now, the intention of the mall management is to ‘speed up’ the process. It has also meant additional parking, for up to 6,000 vehicles. The Dubai Outlet Mall finds itself in an area where new housing capacity is being added by the quarter, as more projects and communities shape up. In recent years, the road networks too have been expanded significantly. The new retail space will come to market as demand continues to remain at a high across all of the city's leading shopping and entertainment destinations. Occupancy levels remain consistently above the 80 per cent mark, and there is still 'lots of demand' out there, retail analysts add. Owned by Al Ahli Group, Dubai Outlet Mall has, according to retailer sources, built up its visitor traffic over the last 2- to 3 years, in part helped by the rise in residential options within its vicinity. Source: Gulf News (https://bit.ly/3SONaFt )
Dubai Retail Giant Apparel Group to Open 29 Stores, Expand to Philippines
Saudi: Retal Unveils Development Agreement Worth $12.8mln
The vibrant spirit of the Year of the Dragon will come to life in Dubai with roaming dragon and lion dances, traditional performances, and dazzling light shows that will create a captivating atmosphere throughout the city. Dubai gets set to welcome the Year of the Dragon with an exciting line-up of events, activities, and retail promotions to mark the Chinese New Year. Organised by the Dubai Festivals and Retail Establishment (DFRE), the celebrations is taking place from February 2 to 11, 2024 throughout the city. Home to a diverse mix of nationalities and cultures, Dubai will transform into the ultimate destination for the Chinese New Year celebrations and invites both residents and visitors to take part. Visitors can immerse themselves in the celebrations by exploring Dubai’s renowned malls and shopping districts and take advantage of citywide retail offers. Ahmed Al Khaja, CEO, Dubai Festivals and Retail Establishment (DFRE), said, “Dubai is honoured once more to host the Chinese New Year celebrations, which will offer an enriching experience for residents and visitors alike.” Source:
Dubai-based Apparel Group is set to open an additional 29 retail stores in the UAE this year and plans to expand into other emerging markets, including the Philippines and Hungary. The fashion and lifestyle retail conglomerate, whose portfolio includes 2,100 retail stores, confirmed the expansion plans on Friday as it opened five outlets at Al Reem Mall in Abu Dhabi. The 29 additional shops will open in the same mall this year. Apparel Group has brought to the UAE several top global brands originating from the United States, Canada, Europe, Australia and Asia. It also operates stores in Saudi Arabia, Qatar, Kuwait, Oman, Bahrain, India, Thailand, Indonesia, Malaysia, Singapore, South Africa and Egypt. The brands in its portfolio include: Tommy Hilfiger, Charles & Keith, Skechers, Aldo, Nine West, Aeropostale, Tim Hortons and Cold Stone C re a m e r y, a m o n g o t h e r s . S o u r c e : Z a w y a
Retal Urban Development Company and its subsidiary Building Construction Company inked a SAR 48 million deal to construct four residential buildings in the Alsadafah district in Khobar. The agreement holds a duration period of 20 months from the signing date of 28 January 2024, according to a bourse filing. Retal highlighted that the project will have a positive impact on its results following the execution process during the years 2024 and 2025. In November 2023, the listed firm penned a SAR 374.76 million contract with Roshn Real Estate Company, a subsidiary of the Public Investment Fund (PIF). Source: Zawya
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Mall of Muscat Unveils Future Vision with New Experiences and Dynamic Additions
Mall of Muscat, leading leisure and entertainment destination, has witnessed a remarkable year in 2023, soaring beyond expectations. With over 4 million footfalls, collection of prestigious awards, and a spectrum of successful events, it has elevated its status quintessential destination for leisure and entertainment. Embarking on a journey of transformation, Mall of Muscat is undergoing a strategic refresh to elevate the customer experience. This initiative signifies a new era of vibrancy and engagement, aiming to enrich the overall ambience and service quality, ensuring that every visit is memorable. In 2023, the Mall of Muscat was distinguished with the prestigious Middle East and North Africa (MENA) Shopping Centre and Retailer Award, reinforcing its status as a frontrunner in traditional marketing excellence, specifically for its impactful cause-related marketing initiatives. Mall of Muscat is a unique fusion of elegance and excitement, where luxury seamlessly blends with adventure, providing an unmatched experience in Muscat. This destination is a shining example of the city’s vibrant evolution in both retail and entertainment sectors. (Read More… http://bit.ly/3Suis3Y)
Majid Al Futtaim Lifestyle Unveils Poltrona Frau
Majid Al Futtaim Lifestyle, a pioneering leader in lifestyle retail across the GCC, today announced the grand opening of Poltrona Frau the 112-yearold luxury Italian furniture brand, at Mall of the Emirates. The milestone marks the brand’s second store in Dubai and the first mall-based store worldwide. Following the successful debut of the newly designed showroom in Jumeirah, the iconic Poltrona Frau brand now graces a line-up of highend luxury names in the UAE’s premier shopping destination. Since partnering with Majid Al Futtaim Lifestyle in January 2023, Poltrona Frau has seen around a 30% growth in the UAE, with revenue expected to double this year. The local brand success is largely attributed to effective designer collaborations, strategic partnerships, and operational enhancements including the significant reduction in stock order fulfillment, streamlined from three months to just a few days. Read More…Source: Zawya (https://bit.ly/3OxFTIB)
