UAE, Qatar capitals to see Gulf's largest retail growth

SHOPPING TRENDS: Dubai will continue to see growth in retail space, but Abu Dhabi and Doha predicted to lead GCC. (Getty Images)

Abu Dhabi and Doha will see the greatest retail growth in percentage terms in the Gulf over the next five years, according Retail International.

Dubai, a top destination for shopping in the Middle East, boasting the world’s biggest mall, will continue to feature as one of the major growth areas, the firm’s annual report 2010 said.

Abu Dhabi, however, is forecast to see 180 percent growth in gross leasable area (GLA) over the next five years, while Doha’s GLA will see 120 percent expansion. Dubai will see only 50 percent growth, the report said.

The one city in the region that is predicted to outstrip others in terms of projected new retail floor space is Cairo, with more than 1.9 million sq m due to be added by 2015.

“Notably the UAE continues to provide the bulk of future supply over the next five years, followed closely by the North African countries in which Cairo can be singled out for major growth over the next few years,” said Simon Thomson, Retail International founder and member of the Middle East Council of Shopping Centres in Dubai.

“Libya and Syria are continuing to relax controls making these two relatively underdeveloped markets as exciting opportunities for all developers and retailers alike.”

According to the report, based on more than 300 shopping centres in the Middle East and North Africa region, the GCC has a total of 10.3 million sq m of GLA.

A further 5.3 million sq m is planned or under development in the Gulf, the report said.

Retail International is an independent retail consultancy established in 1993.

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