Commercial investors looking for opportunities around the world may be interested to learn that the building of new shopping centres and expansion of existing facilities will make Abu Dhabi one of the most retail-concentrated cities
in the world.
The region is set to overtake Dubai in terms of retail concentration per capita by 2015, with its retail space nearly doubling to 1.8 million square metres.
Indeed, while Dubai and most other major cities are not looking to significantly expand their level of retail space over the next five years, Abu Dhabi has plans for new shopping malls on both the Reem and Yas Islands.
In total, planned projects in the coming half decade will push retail concentration to around 1,700 square meters per 1,000 people.
According to property consultancy Cushman and Wakefield, retail occupancy rates in Abu Dhabi presently stand at around 90 per cent. However, the new retail venues are expected to saturate the market.
- Monday 20 December 2010