CBRE reports strong demand in emirate but some evidence of store closures as landlords look to freshen up retail mix
Occupancy rates within prime shopping centres such as Dubai Mall, Mall of Emirates and Ibn Battuta Mall remain exceptionally high at close to 100 percent, according to a new report by CBRE.
Its Dubai Annual Market Update Report did highlight, however, that there has been some evidence of store closures in Dubai's malls as landlords look to freshen up the retail mix amid more challenging retail conditions.
CBRE said supply in Dubai’s retail sector expanded by around 7 percent during 2016, with the opening of several community centres and expansions to existing retail destinations.
The most notable addition was City Walk Phase II, which has...Read more...