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| MONTHLY NEWSLETTER |
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 JULY 2009 |
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SPONSORED BANNER
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NEW! MECSC TRAINING WORKSHOPS FOR LAST QUARTER OF 2009 ANNOUNCED!
MECSC is pleased to announce a series of 2 day training workshops for the last quarter of 2009.
The ABC series will include topics like Leasing and Development and will focus on the basic fundamentals, whilst, the recently launched MECSC Executive Learning Series will focus on an advanced level of training for specific areas of operation and includes workshops on Finance, Marketing, Advanced Leasing, Mall Merchandising and Retail Leasing Management.  |
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URBIS RETAIL PERSPECTIVES - JUNE EDITION
Current Trends in Retail
Madness in the Malls
The second round of fiscal stimulus payments has clearly had a material impact on retail sales. A few daring economists are suggesting that there has also been an improvement in underlying demand. |
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BAGS OF FUN
Malls aren’t just places to shop, they’re places for fun as well, explain experts in all things retail. |
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RETAIL RENTS PLUMMET AROUND THE WORLD - GLOBAL RETAIL MARKET REVIEW (JUNE 2009) BY CB RICHARD ELLIS
The overview reflected that Moscow, that is now the third most expensive market in the world, tops the retail rents ranking in the EMEA region with rents of $7,900 sq m per annum. Despite a 10% rental decline in Manhattan, New York remains the world’s most expensive retail destination, with rental values totalling $18,000 sq m per annum. Hong Kong still ranks in second place globally with rents of $9,750 sq m per annum. |
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SHOPPING CENTRE NEWS, BAHRAIN: Cluttons to Manage New Souk: Cluttons has been appointed by Edamah as Facilities Managers at the newly reconstructed Bab Al Bahrain Souk, now known as the Bab Al Bahrain Mall. |
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SHOPPING CENTRE NEWS, BAHRAIN: Manara Unveils $1bn Bahrain Waterfront Project: Manara Developments, the real estate company owned by Al Salam Bank Bahrain, has said it has finalised the master plan for the $1bn Bahrain waterfront project. |
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SHOPPING CENTRE NEWS, EGYPT: Bonyan Launches First Furnishings Mall in MENA: Bonyan for Development and Trade, Citadel Capital’s platform company for specialty real estate projects, has announced the launch of Designopolis, the first furnishings mall and design center in the Mena region. |
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SHOPPING CENTRE NEWS, EGYPT: PHD Enters Shopping Center Industry With Full Force: Strategically located opposite the new AUC campus, adjacent to the Palm Village Katameya compound, the mall with its distinctive merchandise mix is tailored to the needs of the residents of Rehab City, Heliopolis, Nasr City, New Cairo and Maadi as well as the dense college student's community. |
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SHOPPING CENTRE NEWS, KUWAIT: 360 Mall Officially Inaugurated on July 5th: 360 MALL, the future of luxury shopping, has arrived in Kuwait. The 82,000 m² gross leasable area mall opened its doors for shoppers on July 5th. When fully opened, the mall will offer a mix of over 130 luxury and upscale brands including fashion, accessories, entertainment and dining. |
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SHOPPING CENTRE NEWS, SYRIA: New Shopping Mall in Damascus, Syria: Damascus will have a seven-floor shopping mall with Gym, Health & Spa and a 23-floor Business tower. The total built up area will be 1,615,000 sq. ft. Total Investment $ 180 million. |
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SHOPPING CENTRE NEWS, TUNISIA: Bukhatir Group Launches $5b 'Sports City' in Tunisia: Tunis Sports City is to comprise world-standard sports facilities that aim to attract international sports competitions. The complex will include residential towers, business centers, shopping malls, sports complexes, schools and hotels, in addition to a golf course certified by the Professional Golfers' Association, Sports Cities said. |
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SHOPPING CENTRE NEWS, UAE: EMKE Group Unveils Dh1.5b Expansion Plan in Abu Dhabi: EMKE Group, one of the largest retail chains in the Gulf region, has finalised its plans to expand its customer reach across Abu Dhabi by investing Dh1.5 billion in the next 18-months. |
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SHOPPING CENTRE NEWS, UAE: Deerfields Begins Work on Mixed-Use Project: Deerfields Town Square, the flagship project developed by MBI, an Abu Dhabi-based venture capital firm with key stakes in real estate and construction, has commenced work at the mixed-use project. |
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SHOPPING CENTRE NEWS, UAE: Ajman City Centre Reaches Out to Community this Summer: The mall is hosting a community initiative to provide something for the less fortunate in Ajman in addition to AED 10,000 in weekly prizes for customers spending AED 150 in any of the centre’s stores. |
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SHOPPING CENTRE NEWS, UAE: Dubai Festival City to Build Casper Theme Park: Dubai Festival City has announced plans to build a Casper Theme Park, the first of its kind in the Middle East. Construction is expected to begin shortly and the park is planned for opening in the first quarter of next year. |
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SHOPPING CENTRE NEWS, UAE: Parking Management Systems Introduced at MOE and Deira City Centre: Mall of the Emirates and Deira City Centre have announced details of their upcoming parking management system that ensures customers to the malls are given priority parking when the Dubai Metro service begins on September 9 this year. |
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SHOPPING CENTRE NEWS, UAE: The Soccer Circus is Coming to Town: Mirdif City Centre could be the next sporting centre of excellence when the Beckhams, Ronaldos, and Figos of the future hone their skills at the world’s first fully interactive football attraction, Soccer Circus. |
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SHOPPING CENTRE NEWS, UAE: Fujairah Business Park to Feature Shopping Mall: Developed by Al Taif Investments, Dubai Investments' Fujairah-based partner, The Fujairah Business Park comprises two towers, a 44-storey office tower and a 31-storey tower comprising 424 hotel rooms and apartment units. The hotel tower will also feature a shopping mall spread over more than 300,000 sq ft of retail area. |
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SHOPPING CENTRE NEWS, UAE: Al Manar Mall to Spend Dh500m in Renovation: Al Manar Mall, one of the first shopping malls in the Northern Emirates, will go in for a total revamp and renovation soon to meet growing competition in the emirate. |
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RETAIL NEWS, JORDAN: New Kebab Express to Open at TAJ: Atico Fakhreldin Group has announced plans to launch its third 'Kebab Express' outlet at TAJ, an upcoming mall in Abdoun, Amman, which is scheduled to open by the end of 2010. |
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RETAIL NEWS, KSA: Saudi Savola Expands Retail Chain with $117m Geant Buy: Saudi-based Savola Group has agreed to pay 440 million riyals ($117.3 million) to buy all Geant supermarkets owned by private Fawaz Alhokair Group. |
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RETAIL NEWS, KSA: Montblanc Eyes Further Gulf Growth: Luxury goods manufacturer Montblanc has said it is planning further retail expansion after opening a second boutique in Saudi Arabia. |
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RETAIL NEWS, QATAR: Qatar Bans Retailers from Price Hikes: Qatar has banned retailers from raising the price of goods without the permission of authorities, it has been reported. |
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RETAIL NEWS, UAE: 'Regulations Should be Eased to Boost Sector': Government regulations should be eased to encourage the retail sector in Dubai, which has seen a decline in sales of between 20 and 25 per cent in the first six months of the year, said the head of a trade organisation. |
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RETAIL NEWS, UAE: Dubai Retail Sales Seen Falling 30%: Dubai luxury retailer Bin Hendi Enterprises expects retail sales in the emirate to drop by up to 30 per cent this summer versus last year, the company's president said, as the financial crisis continues to hurt retailers. |
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RETAIL NEWS, UAE: UAE Eyes Plastic Shopping Bags Ban from 2012: Plastic shopping bags will be completely phased out in the UAE by 2012, officials have ruled. |
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RETAIL NEWS, UAE: Spot Checks for Retailers During Ramadan: A special committee to monitor prices of goods during Ramadan to prevent overcharging will be set up. |
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RETAIL NEWS, UAE: Sharjah Fashion Shops Must Employ Women or Face Fines: Retailers of women’s clothing stores in Sharjah have until next year to start employing female sales assistants or face stiff fines. |
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RETAIL NEWS, UAE: Aswaaq Plans to go Public in Q1 Next Year: Dubai-based retailer Aswaaq plans to go public during the first quarter of 2010 despite the financial crisis and its effects on the UAE and regional economies, said its chief executive. |
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RETAIL NEWS, UAE: Ping Pong Opens First Restaurant in the Middle East: Ping Pong, the twentieth century teahouse and uber cool dim sum emporium, is set to get shoppers at Dubai hot and steamy when it opens this September at Dubai Mall. |
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RETAIL NEWS, UAE: Al Samadi Sweets to Open Café Chain: Al Samadi Sweets, a popular confectionary brand in the UAE, has announced plans to open its chain of cafes across the country starting with launch of its first French-Lebanese café in Dubai. |
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RETAIL NEWS, UAE: Danube Buildmart to Open Two New Stores: Danube Building Materials, leader in building materials and shop fitting industries, plans to open two new 'Danube Buildmart' stores in Dubai's Ibn Battuta Mall and Dubai Festival City. |
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STORE NEWS: A chunky version of the latest store openings, launches and news. |
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MEMBERS ON THE MOVE: Keep track of the latest changes in the industry! |
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| EGYPT |
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Kamel El Agha, Leasing Manager, Bonyan for Development & Trade
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Kelly Vieira, General Manager, Senzo Mall
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| GERMANY |
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Marco Horn, Export Manager, Aichinger GMBH
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| QATAR |
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Carl Engelbrecht, Retail Operations Manager- Porto Arabia, United Development Co.
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Robert Young, Retail Manager – Assets Management, United Development Co.
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| SAUDI ARABIA |
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Hani Saleh Kadour, Marketing & Leasing Executive, Project Management & Dev. Co.
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Hussain Hadi Al Yami, Assistant Leasing Manager, Project Management & Dev. Co.
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Nezar.A. Kabli, Assistant Leasing Manager, Project Management & Dev. Co.
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Ramzi Solh, Director - Retail, Emaar, The Economic City
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Salem Hadi Al Yami, Leasing Manager, Project Management & Dev. Co.
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| UNITED ARAB EMIRATES |
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Hannah Jeffery, Associate, Cushman & Wakefield (Middle East) FZE
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Raid Ismail Maddah, Senior Business Development Manager, Gourmet Gulf Company
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Richard Bate, Senior Manager- Tenancy Design & Coordination, Nakheel Shopping Malls
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Shakeel Hussain, GM-Business Development & Property, Landmark Gulf Group
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Shane Eldstrom, Senior Manager- Retail Leasing, Al Ghurair Group
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Suliman Al Ghurair, Leasing Executive, Al Ghurair City
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DISCLAIMER: The views expressed in this document are those of the contributor(s) and no liability can be accepted for any omissions, errors of fact or opinion.
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