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Soderquist believes Middle East companies should select key national leaders to profit from global expansion.

Masterminds behind the Middle East's retail giants discuss how to transform homegrown businesses into global successes.

Richard Reid, SVP development for MAF Shopping Malls LLC UAE says that as a local player, its objective is to become the dominant player in shopping centre development.

To monopolise in selected markets and have a long-term and sustainable future, Reid says the company aims for the shopping centres to be powerful destinations for retailing and entertainment.

"The business model starts with location and we currently have seven shopping malls. Our five-year plan calls for another 29 malls to be developed, some AED20 billion of investment. Our aspirations are to grow our business model across the region."

As the franchise owner for Carrefour in the Middle East, Reid believes Majid Al Futtaim's success in new markets with ‘go to' mall destinations has been owed to the quality of operations and a clear understanding of asset management.

The company works according to a mixed use developed strategy, he reveals, and the philosophy that buying 100 hectares rather than 20 hectares is a superior line of attack.

"This gives you the opportunity to create a community around your shopping centre, as part of our land bank strategy," he says.

Reid reveals that MAF Shopping Malls has "an enormous customers relations database opportunity available to us and as we move forward we will look to use that CRM opportunity to be forward-facing to our customers and create products targeted at them."

As part of its growth strategy, MAF Shopping Malls has pinpointed markets including Egypt, where "half of the population cannot afford to shop at Carrefour" yet its 80-million strong population presents an interesting market in which the company "will probably grow its two operating assets to 12 within 10 years."

The company will also chase Saudi Arabia's young population, and chances within the region's largest economy.

"Our location strategy is essentially to focus on the MENA region. Dubai is a very active exporter of capital throughout the region. We are in a race for capital and location. We will go out as far as Libya, where there is a lot of oil wealth, but it is not an easy place to work at the moment."

"We will direct the majority of our capital towards our core markets, and we will invest a considerable amount of time in the emerging markets. The UAE is clearly a hallmark, where we started and we have a maturing plan for consolidation."

If retail companies take Country Risk advice solely from websites, they would most likely close their files and go home or get to markets way too late in many cases, he warns.

Taking Middle East brands globally, Reid cautions that companies including Syria often have a snarling response towards American and European companies, while Jordan features increasing numbers of international brands, and Lebanon's real estate continues to rise in value.

Pakistan's enormous population and large cities have emerged as considerable pull factors, and Reid reveals "our group CEO is very focused on India. We have to take something very special and no shortage of capital there. You have to bring serious depths of intellectual property in that fast moving market."

Foreign Direct Investment into these markets is about achieving a first mover advantage, securing dominance and stealing market share from competitors, he argues.

"We've decided to be a predator. Every piece of land we have acquired has been impeccably located. It comes from walking and driving along the streets, flying over the land and using your gut."

Expertise in local legal frameworks is imperative for Middle East brands and retailers in new markets. "The challenge when you go into emerging markets such as Libya and Syria is that you tend to encounter fairly archaic legal systems and you need people who are skilled in the process of cajoling and persuading to change from one of prohibiting investment."

Developing retail partnerships and strategic relationships rather than tactical and landlord relationships is crucial and there are "thousands of decisions to get right" as "there are no free kicks in this game".

Operational excellence is the bedrock and the DNA of the business, Reid comments, and its ongoing commitment to the cleanliness, safety and convenience of its assets.

For UAE companies moving into up and coming markets around the Middle East, he advises them to "cut your cloth according to the market. Use a lot of local products."

"Everything we do is targeted towards market leadership and speed to market. We're in a race.

Don Soderquist, former vice chairman and COO, Wal-Mart, USA believes Middle East companies should hold to their values and original concepts as they move on to the global stage.

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