Hot links: The week’s Mideast retail property news
Publish Date: August 13, 2014
Here's a roundup of what regional news organizations in the Middle East are reporting about the local retail real estate business.
• Retail increasingly important to Dubai's economy — Maclean's The proposed 8 million-square-foot Mall of the World is only the latest indication that Dubai is poised to compete with other international retail capitals as a shopping behemoth.
• No taste for small malls in Dubai — Gulf News With such giant projects as the 8 million-square-foot Mall of the World in the pipeline, retail real estate developers might shy away from building anything that is small in Dubai.
• Just Falafel plans 85 units in Egypt — Arabian Business Just Falafel, an Emirates-based restaurant chain that is expanding globally, opened in Marassi, a resort on Egypt's northern coast.
• U.A.E. jeweler opens Fujairah unit, expanding — Zawya U.A.E.-based Pure Gold Jewellers, which operates several stores around the Middle East, has opened an outlet in Lulu Mall, located the emirate Fujairah.
• Saudi grocer Savola gets new chief exec — Fresh Plaza Savola, which operates Panda, the largest grocery chain in Saudi Arabia, named Abdulla Mohammed Noor Rehaimi as its new chief executive.
• Dubai's BurJuman not fazed by competition — Zawya Despite the arrival of numerous competing malls in Dubai, BurJuman, a shopping centre that opened in 1991, is still a hit with residents and tourists.
• Doner Kebab expanding — Gulf Business Germany-based restaurant chain Doner Kebab plans to open 12 units in Dubai this year, spending AED20 million [$5.4 million] and bringing its total to 20 stores in the area.
• Malabar Gold raises funds for 14 new stores — The Peninsula Malabar Gold & Diamonds, a jewelry chain based in Dubai, raised AED300 million [$81.7 million], to open 14 stores around the Gulf and in Singapore.
• Qatar Mall scores branding goal — ConstructionWeekOnline Qatar Mall, which will open in next year's third quarter and feature 400 stores among other amenities, will incorporate the FIFA World Cup logo as part of its design.
• Dubai tower to include retail — Arabian Business Al Manara Tower, a $55 million apartment complex being built by Tiger Properties in Dubai's Jumeirah Village Circle, will include retail as part of its plans.
• Smartphones sell big during Dubai Summer Surprises — Gulf News Dubai Summer Surprises, a retail-centred event intended in part to increase tourism to the city that lasts until early September, has so far seen strong demand for smartphones and electronics, retailers report.
• Oman urges customers to demand receipts — Times of Oman The Public Authority of Consumer Protection in Oman started a campaign to urge shoppers to ask merchants for receipts.
• Istanbul firm to operate Oman airport retail — Oman Daily Observer ATU Turizm Istelmeciligi, based in Istanbul, was chosen to run the duty free, retail and dining outlets at the Salalah International Airport, in Oman.
• Some Qatar shoppers demand price regulation — The Peninsula Some consumers in Qatar say that neighbourhood convenience stores are marking up their prices beyond reason and want the government to regulate the industry.