Dubai Retail, a subsidiary of Dubai Properties Group and member of Dubai Holding has commenced its operations in retail development and management solutions.
According to CEO Haiyan Mujarkech, Dubai Retail will "increase stakeholders' value through innovative solutions and commitment to excellence. Leveraging our broad market and industry experience, we seek to contribute to the growth of the domestic as well as the international retail sector."
Mujarkech said the new subsidiary will impact the Middle East market by bringing in new concepts and solutions, in a bid to chase the "tremendous pace" of growth.
"We believe our extensive industry experience, innovative concept and market knowledge will help us offer our clients a blend of integrated retail services," he said.
Services range from strategy development to retail space management. It includes retail leasing, developing and improving retail concepts, management of retail spaces, retail consulting services, and offering support to franchise chains, market intelligence services and tenant mix solutions.
"One of the key examples of our positioning and service offering is our new development called The Walk at Jumeirah Beach Residence, the only beachside promenade in Dubai, offering an extravagant shopping and dining experience."
Spanning more than 1.7km, The Walk will soon be home to more than 300 retailers.
"At Dubai Retail, we believe our clients are our associates. By helping them grow and succeed in their line of business, we hope to grow with them.
In addition to offering our expertise in developing and completing projects, we also offer extensive market-related information for developing projects that best match the economic development of a particular region," he said.
According to Mujarkech, "rising crude oil prices have placed a far greater impact on the retail industry than any other issue in the recent past. The combination of higher transportation and production costs in addition to the rising prices of raw materials had a stronger impact on consumer spending world-wide, forcing manufacturers to scale down industrial output as well as sales and marketing of retail products."
The retail sector needs to tackle these challenges effectively, he urged. The new player will offer retailers feasibility studies, consultation services and solutions to ensure their success in the local market. "Dubai's experience validates the fact that retail remains an integral element of any major development," he added.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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