Retail
From The Report: Abu Dhabi 2016
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Strong expansion in Abu Dhabi’s high-quality retail stock with a focus on added entertainment and food and beverage components has helped to draw crowds, with the emphasis on malls as destinations in themselves increasingly reflected in the proportion of space given over to food and beverage outlets, and the greater variety among concessions. Wholesale and retail trade in the emirate totalled $11.5bn in 2014 when measured at current prices. This represented annual growth of 18.3%, or 8.7% at constant prices, beating average 2.2% growth for the economy overall. Rents are expected to remain stable in the short term; however, the new malls entering in 2018 are likely to have a more marked effect on the sector, with polarisation anticipated. In particular, lower-quality malls are expected to see rents decline. This chapter contains an interview with Yousef Mohammed Rasool Khoory, CEO, Mohammed Rasool Khoory & Sons.

Articles from this Chapter

Overview

The march of the malls: As the market becomes increasingly competitive, players look to differentiate
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Investing large sums in recent years to both entice locals to spend their hard-earned cash closer to home and to capture higher proportions of tourist dollars, Abu Dhabi’s retail strategy appears to be paying off. Strong expansion in the emirate’s high-quality retail stock with a focus on added entertainment and food and beverage (F&B) components has helped to draw the crowds, and the sector as a whole has benefitted with robust growth. As oil prices continue to remain flat though, there…

Interview

Global brand: OBG talks to Yousef Mohammed Rasool Khoory, CEO, Mohammed Rasool Khoory & Sons
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Interview:Yousef Mohammed Rasool Khoory What have been some of the key enablers that have driven the retail sector? YOUSEF MOHAMMED RASOOL KHOORY: Abu Dhabi’s retail sector has experienced tremendous growth over the past few years, primarily as a result of increased visitor numbers and stable economic development spurred by government investment, which has also resulted in increased employment. The consistency of the sector is the result of the prudent and conservative approach taken with…