Dubai Malls share in GDP set to rise up 50% by 2009

09 Jan '06

2 min read

UAE, with a record 145 percent growth forecast in Gross Leaseable Area (GLA) to 2.7 million square meters, by the end of 2006, leads Gulf shopping mall sector, according to Middle East Council of Shopping Centers (MECSC).

Arabian Gulf Cooperation Council (AGCC) states have a capacity of 9.4 million square meters of retail space, with Dubai having a major share.

Dubai shopping centers are expected to contribute over 50 percent to GDP by year 2009, due to boom in retail sector.

New projects in shopping mall sector like the Mall of Arabia, Dubail and, Dubai Festival City, Dubai Outlet Mall, Burj Dubai Complex, Dubai Pearl, the Walk at Jumeirah Beach Residence, contribute to its growth.

Mall of Arabia will cover 600,000 square metres of GLA and is set to become the largest mall in the world.

Dubailand will have a huge mall, called Dubai Outlet City covering a GLA of 375,000 square metres with a business park, a web marketing centre, an artificial beach with restaurants, residences and a hotel.

Emaar Properties will build the largest shopping centre in the heart of Dubai, the Dubai Mall with a GLA of 351,000 square metres with zones for fashion, children's garments and flagship stores.

Festival Centre, at Dubai Festival City, will become the biggest shopping mall to open this year, with more than 160,000 square meter area, having multi-use retail and entertainment complex, 100 shops and kiosks and Cresent Shopping Mall with about 300 stores.

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