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BinHendi closes luxury avenue in Dubai
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 12 May 2009Posted on Sunday, 17 May 2009
Closing is better
Posted by Property Guru at 11:29 UAE time
Closing a business is a better sign rather than keeping it open - not paying its liabilities and finally announcing bankruptcy. The person closing business is more prudent thatn a person who is forced to close it.
What is the point in General Motors "HAVE TO" shut down many of its dealership after reaching on the verge or still going for bankruptcy.
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Posted on Friday, 15 May 2009
No Wonder
Posted by SA at 13:58 UAE time
Who are they kidding? THe place was empty all the time. THere were hardly any people shopping at BIn Hendi Avenue, I remember my friend and I used to go there a lot because we KNEW it was a quiet place to be since there are no people around. No wonder they closed down.
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Posted on Wednesday, 13 May 2009
Retail collapse!
Posted by Paul King at 21:01 UAE time
Another sign that after property, retail is the next sector to completely collapse in the UAE. Too many malls with too many retailers selling merchandise at some of the highest prices in the world! We should welcome this positive collapse because maybe Dubai will return to the basics of retail... Providing consumers with good service and products at the prices they want to pay.
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Bin Hendy
Posted by harry vaessen at 14:04 UAE time
Don't worry about the buying-potency of the visitors of DCC on longer term, the"economical crisis" will come to an end.
I personally met with Mr. Bin Hendi in the late nineties, he is a great businessman and now with the assistance of his daughter, I am sure they know very well what they are doing.
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Monopolys
Posted by Jebel Ali Baba at 13:39 UAE time
Due the crisis in most of the countries the prices are going down. But the license and distribution structure in the Middle East is creating monopolys and so price fixing and even extortion is happenening. Car makers who give up to 40% discount in Europe see there cars sold here for the normal or even higher prices. Same with fashion and electronics. To create a real open market with fair practice and prices one has to brawk these monopolys.
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Boycott price-fixing family owned cartel retailers
Posted by IncidentFlux at 13:00 UAE time
Most of the UAE's family based retailers are fixing prices in the UAE, and since anti-trust pratices are considerd good business here, prices will never drop to fair levels. Time to boycott all of them, you know who they are, from all the big brand retail chain stores to car showrooms.
It's sad, buying from the Internet is still cheaper, even after taxes and shipping and you get the same product with better options. Time to move on...
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Shoppers are no stupid!
Posted by patrick at 09:27 UAE time
Shoppers in Dubai are aware that prices here are double and triple of products in other countries in Europe or the US, why bother and shop here, use the internet and pay half of what you pay in shopping malls. Spending was ok during the good days, but now, everyone is tightening up the belt.
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Yawn Zzzzzzzzz
Posted by Jane Doe at 07:41 UAE time
Boring, boring, boring - most malls are empty because hey, guess what?? We're in a very bad recession and people are becoming aware that it's time to think of the future?? Incidentally, Times Square last night was like a ghost town - there were about 5 people eating in the food court and 4 more wandering around - now is that boring or what??
And just how many shops can the shopaholics look at in a day?? I hate shopping so I wouldn't know!
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Posted on Tuesday, 12 May 2009
To Ahmed
Posted by Joe at 20:56 UAE time
The problem with Bin Hendi Avenue has never been rent. They have a very good deal from the MAF on rent. The problem has been no sales because of no customers. And has already been said, the City Centre customer is not looking for high end fashion like Brioni suits. That type of customer is shopping in Wafi or Emirates Towers.
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Enoguh!
Posted by Simon Lambert at 20:42 UAE time
Malls, malls, malls and more malls built for the alone, lonely, and frustrated shopaholics...
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Not a surprise
Posted by In the know at 20:34 UAE time
This has been coming for a while. I believe the first Bin Hendi shops closed back in December. There was a "Fire Sale" to try and move as much stock as possible but I never saw more than a few shoppers when I walked by.
Bin Hendi may have a problem here with MAF. Bin Hendi invested millions in the fit out so I assume the lease was for more than 5 years. If so then Bin Hendi is still responsible for paying rent. If Bin Hendi walks away and does not pay the rent this could impact negotiations in future MAF projects such as Mirdif City Centre, not to mention lease renewals in Mall of the Emirates and Deira City Centre. If the lease is over and Bin Hendi walks away then MAF is stuck with a big dead space. I recommend they turn it into offices.
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BinHendi Avenue
Posted by Shopping Freak at 20:24 UAE time
I think it is a wise decision taking into account the current market situation. I am a big fan of binHendi brands and i know they have opened the same outlets in Dubai Mall. Therefore, there is no need to keep BinHendi Avenue open.
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DCC
Posted by ahmed at 18:38 UAE time
its all very sad...but the key point here is that shops are closing due to the extremely arroganr and non cooperative nature of the mall managements...would they be willing to look into reduced rents or waivers???i doubt...the policy is simple...pay or get out...we are not bothered about your worries/recession....
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Bin Hendi Avenue at DCC
Posted by Mahmoud at 18:29 UAE time
The Bin Hendi Avenue at DCC is some how a dead area, the location is hidden in a way that there are many visitors not aware of the Bin Hendi Avenue despite DCC management have been putting a lot of banners and signs....especially visitors that are coming on one day or transit basis would definitely not notice the Avenue....only visitors that are parking at park no. 1 would notice the Avenue when going inside the DCC mall....as for the transit and one day visiting tourists, they will never notice the Avenue due the drop off location of the taxi....once they enter the mall their mind and eye is occupied with the existing shops to look at, rather than reading signs and banners of the Avenue.....
If there is a way for Al-Futtaim management to look into relocating the movie theatres to the Bin Hendi Avenue area, and to use the present space of the Movie Theatres for additional shops and might be useful for Bin Hendi outlets or furniture showrooms....perhaps this might make the DCC 100% full utilized and occupied by visitors....
Despite the numbers of new shopping malls that have recently opened in Dubai, I still find the number of visitors to DCC is high and haven't dropped....
As for the DCC management, I have noticed that they have removed sitting benches from the Mall.....I have observed many senior visitors having difficulty to walk and in search for benches to relax on.... unfortunately the only places they can sit and rest from the long walk is in a cafe or restaurants or the food court.....please consider the senior visitors and physical disabled, as they might need to rest every 40 to 60 minutes after going inside the shops and a long walk....it would be great to see benches scattered inside the DCC mall same as Mall of the Emirates, Festival City and Dubai Mall.....
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its sad!!!!!!!!!
Posted by Resident at 17:04 UAE time
its quite sad but at the end would be a fair decision of the mgmt. keeping in mind the current market situation and not to mention the mindset of the consumers.
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