Retail and commercial developments account for 12 per cent of total projects in UAE, says REIDIN.com

Retail and commercial developments account for 12 per cent of total projects in UAE, says REIDIN.com

107 retail developments currently operate within the country, reveals latest ‘RETAILFocus’ report

July 08, 2009

Retail and commercial developments account for approximately 12 per cent of the total number of projects in the UAE, according to reports from Projects Database, a tool that tracks over 16,000 real estate projects across 60 emerging countries. Part of ‘RETAILFocus’, a product of REIDIN.com that delivers an updated database of malls, shopping centres, tenants, projects and retail real estate deals along with retail real estate news and research reports, the report also revealed that the UAE is home to 107 retail facilities including shopping centres, multi-use commercial facilities and regional mall chains. ‘RETAILFocus’ is a product of REIDIN.com, the world’s first and leading global online information services provider.

‘RETAILFocus’ features extensive and interlinked databases of shopping centres, which reveal that UAE-based retail facilities are made up of regional centres and malls (61.11 per cent), shopping centres (25.93 per cent) and multi-use centres (10.19 per cent). Dispersed mostly across Dubai, Abu Dhabi, Sharjah and Ajman, some of the regional centres and malls include ‘The Dubai Mall’, ‘Marina Mall’, ‘Wafi Mall’, ‘Mega Mall’, and ‘Al Wahda Mall’. The shopping centres include ‘, ‘Sharjah City Centre’, ‘Twin Towers Shopping Centres’, ‘Madinat Zayed Shopping Centre’, and ‘Sahara Centre’; while leading multi-use centres include ‘Mall of the Emirates’, ‘Souk Madinat Jumeirah’, ‘Dragon Mart’, ‘Emirates Towers Boulevard’, ‘Al Khaleej Centre’ and ‘Al Bustan Centre & Residence’.

“The presence of a significant number of retail complexes in the UAE is indicative of its thriving economy especially prior to the onset of the financial crisis. While the country recovers from the effects of the global downturn, these developments continue to attract foreign and domestic tourists and encourage cash flow within the retail sector,” said Ahmet Kayhan, CEO, REIDIN.com. “Our aim is to provide investors, developers, buyers and real estate professionals with a solid foundation upon which they can base their important business decisions, by offering accurate data on retail and commercial developments in the UAE.”

With aims to further enhance the services it provides through ‘RETAILFocus’, REIDIN.com has incorporated new features within the online tool, which will expand the users’ access to more valuable market information. This includes ‘Retail Market Price Data’, which tracks the sales and rental prices across retail sector on a monthly basis; ‘Map Search’ and ‘Proximity Report’, which allow users to find shopping centres more easily and also conduct competitor and location analysis; and ‘Deals’, which tracks relevant retail property deals and links to the malls’ profiles to simplify the monitoring of the development. In addition, ‘Mall Images’ provides an up-to-date photo gallery of listed developments, while ‘Mall Press Release’ keeps the user informed about changes and developments directly from the owners.

“Our growing portfolio of products dedicated to the real estate sector underlines our commitment to the advancement of this industry by way of encouraging transparency across the market and making accurate and relevant information easily available to decision makers. We are continuously investing in developing new products and expanding the coverage of our current offerings, as we anticipate a new era in real estate amidst the positive developments resulting from the current correction phase,” concluded Kayhan.

The fourth property and real estate related product by REIDIN.com, ‘RETAILFocus’ offers valuable market data such as retailer profiles, Gross Leasable Area (GLA), footfall statistics, price data, news, research, upcoming retail projects, owners, developers, and property manager profiles. Other products within REIDIN.com’s portfolio are ‘DUBAIFocus’, an online analytical tool on real estate deals and transactions in Dubai; ‘INDEXFocus’, a tool that enables users to establish house price differentials, conduct property valuations and perform multiple simultaneous market analyses. It also offers ‘REBIS’, a one-stop shop real estate information portal that covers market price data series, news, research, projects, deals and company profiles, legal, and macroeconomic data series fully archived and searchable powered by customisation, analytical and charting tools, in emerging markets.