GCC shopping space set to treble by 2016

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Dubai isn’t the only city to be witnessing a shopping mall boom.

Shop space in the GCC is set to treble to more than 15 million square metres by 2016, according to the organisers of a Dubai-based retail trade show.

A recent study by Retail International found that there is currently 5.3 million square metres of retail floor space available in the GCC for an industry that turns over in excess of $100 billion annually.

Dubai, Abu Dhabi, Riyadh and Jeddah are the heavyweight cities in the region market, but Bahrain, Al Khobar, Doha, Muscat and Kuwait City are also developing rapidly.

Dubai's growth over the next few years is already quantifiable. 4.6 million square metres of gross leasable area (GLA) will be added in developments including Dubai Festival City, Dubai Mall and Mall of Arabia.

Elsewhere in the region, another 750,000 square metres will be added through developments in Doha at Le Villaggio and The Pearl-Qatar, in Kuwait with the Mall of Kuwait, Al Shobily Grand Mall in Khobar, Saudi Arabia and the new Bahrain City Centre project in Manama.

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