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| MONTHLY NEWSLETTER |
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 OCTOBER 2009 |
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SPONSORED BANNER
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2010 MECSC ANNUAL CONVENTION TO BE REBRANDED AS RECON MIDDLE EAST 2010
Save the Date : May 2 - 3, 2010
MECSC and ICSC are pleased to announce the next edition of the MECSC Annual Convention.  |
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CHANGES TO LANDLORD & TENANT LAW - HOW IT AFFECTS MALL OPERATORS AND RETAILERS
An informative feature contributed by Tom O'Grady, Partner, DLA Piper Middle East LLP. The article features some interesting amendments and information on the recent changes to Landlord and Tenant Laws. |
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URBIS RETAIL PERSPECTIVES - FACTORS ASSOCIATED WITH LOWER SHOPPING CENTRE PERFORMANCE VOLATILITY
The potential for excess retail space in places like Dubai is still a concern. However, oversupply isn’t the only thing that can get a country’s retail industry into trouble. Performance volatility is a problem too, and this afflicts strong and weak properties alike if their tenant mixes are too pro-cyclical. In this article we examine both problems separately and identify eight factors that should smooth shopping centre volatility. |
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GLOBAL COMPETITIVENESS INDEX 2009 - UAE SIGNIFICANTLY IMPROVES ITS COMPETITIVE POSITION MOVING UP EIGHT PLACES
A number of countries in the Middle East and North Africa region are in the upper half of the rankings, led by Qatar, United Arab Emirates, Saudi Arabia, Bahrain, Kuwait and Tunisia, with particular improvements noted in the Gulf States, which continue their upward trend of recent years. Qatar improves by four places. The United Arab Emirates (UAE) climbed to 23rd position, mainly due to a more favourable assessment of institutions, and higher technological readiness and innovative capacity. |
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MECSC News: MECSC joins the Twitter Revolution: So why not join Twitter today? It only takes a couple minutes to sign-up. And don’t forget to follow us on www.twitter.com/MECSC_ORG. |
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Event News: Gain the Competitive Edge! Register for the Forthcoming MECSC Workshops: * Operations & Facilities Management
* Marketing Shopping Centres Successfully
* Advanced Leasing Strategies
* The ABC of Development |
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Shopping Centre News, Bahrain: Bahrain's $26.5m Shopping Mall to Open this December: A new BD10m ($26.5m) Bahraini shopping mall in Malkiya will open to the public in December, officials announced on Thursday. |
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Shopping Centre News, Bahrain: Bahrain - Retail Steady: Though activity in Bahrain's retail sector may have slowed due to the global financial crisis, the cash registers are still ringing as the economy seems set to avoid recession and post growth this year. |
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Shopping Centre News, Bahrain: Bahrain Mulls 'Green Tax': Developers, who destroy marine life and the environment through reclamation, will have to pay a 'green tax'. The penalty would be used to fund green projects to either restore or protect other areas of Bahrain's environment. |
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Shopping Centre News, Egypt: Egypt Banks in Loan Agreement for Cairo Festival City: Al-Futtaim Commercial & Administrative Centers SAE, a subsidiary of Al-Futtaim , and a consortium of banks signed in Cairo a Syndicated Senior Long Term Loan Facility for EGP 2 billion to finance the state-of-the-art retail precinct Festival Centre in Al-Futtaim's mega project Cairo Festival City. |
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Shopping Centre News, Iran: MAF Properties Plans Iran Mall: Dubai-based Majid Al Futtaim Properties plans to launch a mega-mall project in Iran by 2012 after its latest retail project in the country's capital proved successful, Reuters has reported. |
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Shopping Centre News, Jordan: Taj Mall Expands its Retail Profile: “Taj” owned by Al Tajamouat for Touristic Projects Company, announces the agreement for the opening of Spinneys at Taj. Mr. Halim Salfiti, Chairman of Al Tajamouat for Touristic Projects Company, signed the agreement with Mr. Michael Wright, the CEO of Spinneys. |
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Shopping Centre News, Libya: Turkmall to Build Shopping Malls in Libya: Turkmall, a global real-estate development company based in Istanbul, broke ground on three shopping mall projects in Libya on the same day. One of the shopping centers is in Benghazi, while two others are in Tripoli. |
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Shopping Centre News, Qatar: Doha Mall Set to Introduce Parking Charges: One of the most popular shopping malls in Qatar is planning to introduce charges for parking. The City Center Mall in Doha will implement pay parking at the end of the year or early next year, Christoph von Oelhafen, director of the City Center, said. |
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Shopping Centre News, Saudi Arabia: Dar Al Arkan Plans New $2bn Jeddah Project: Saudi Arabia's Dar Al-Arkan announced plans to spend 7.5 billion riyals ($2bn) on a new residential project in Jeddah which includes shopping centres. |
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Shopping Centre News, Saudi Arabia: Saudi Arabia plans to build three 'airport cities': Saudi Arabia’s three main international airports in Jeddah, Riyadh, and Dammam will be turned into ‘airport cities’, officials have said. The project will inclue huge commercial offices, malls, hotels, conference halls, and service agencies to be established inside the airport. |
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Shopping Centre News, Syria: Majid Al Futtaim in $1bn project: Majid Al Futtaim Properties, the company behind Dubai's Mall of the Emirates and Deira City Centre, is pushing ahead with its regional plans despite the economic downturn. |
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Shopping Centre News, UAE: Mercato Makes Room for 18 Renowned Brands: Following the huge lease makeover that Mercato underwent in 2008, the mall continues to wow its customers with even more shopping options. The mall has welcomed 15 well-know brands since the beginning of the year and three more international brands are scheduled to open very soon. |
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Shopping Centre News, UAE: Al-Futtaim Eyes Libya, Qatar for Projects: Al-Futtaim Capital, the investment arm of the UAE-based Al-Futtaim Group, is in talks for possible projects in Opec members Libya and Qatar as it looks to tap into growth in emerging markets. |
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Shopping Centre News, UAE: The Dubai Mall Crosses Landmark 30 Million Visitors: • Over 1,000 retail outlets including debuts of global brands already open
• New leisure attractions enhance visitor footfall |
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Shopping Centre News, UAE: Mall of the Emirates Expansion to Boast Second Glass Dome: The Mall of the Emirates’ most striking landmark is soon to have a twin brother. |
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Shopping Centre News, UAE: SouqExtra! Rollout on Schedule with Official Launch of First Outlet in November: SouqExtra!, the national chain of community supercenters, will officially launch its first outlet at Ewan Residences this November. |
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Shopping Centre News, UAE: Mall of Arabia To Open in 2012: The opening of the Mall of Arabia in Dubailand, has been pushed back until 2012, the National has reported. |
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Shopping Centre News, UAE: Landmark Group Launches First Centrepoint in Ras Al Khaimah: Landmark Group, one of the Middle East's largest retail conglomerates, launched the first Centrepoint store in the Emirate of Ras Al Khaimah. |
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Shopping Centre News, UAE: Baniyas Inks Carrefour Deal: Baniyas Investment and Development Company (BID) has signed up the French chain Carrefour as the anchor hypermarket for its mall at Bawabat Al Sharq in Bani Yas, Abu Dhabi. |
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Retail News, Kuwait: New H and M to Open in Kuwait: International clothing retailer H and M has announced it will open its 7th store in Kuwait on October 31. |
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Retail News, Saudi Arabia: Saudi Savola Completes Geant Purchase Deal: Saudi Savola Group said its retail arm has completed the purchase of some assets held by supermarket chain Geant Saudi Arabia for cash and stock, in its second retail acquisition since 2008. |
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Retail News, UAE: Dubai's Gallery One Signs Qatar Franchise: Dubai-based art group, Gallery One, has signed a franchise agreement with Al-Jaidah Brothers in Qatar to open two stores in the next 12 months. |
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Retail News, UAE: Louis Vuitton Opens Dubai Global Store, Confirms Lebanon Outlet This Year: Louis Vuitton, a brand of the largest luxury goods maker LVMH Moet Hennessy Louis Vuitton SA, will open its first store in Lebanon this year, the brand's chief executive officer said. |
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Retail News, UAE: Plastic Bags Set to be Banned in UAE from 2013: UAE environmental officials have announced a plan to ban all plastic carrier bags by 2013 in a bid to reduce the amount of waste the country produces. |
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Retail News, UAE: Emaar Retail Joins Hands with Emirates Airline to Offer Real-life Airline Environment at KidZania® edu-tainment centre: • Children can enact up to 70 different roles from daily life at KidZania®
• Features airplane body replicating Emirates aircraft and an airport counter |
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Retail News, UAE: First Arab "Western Style" Speciality Coffee Shop Chain Opens in UAE: Well known Syrian coffee chain expands outside Syria in master franchise agreement with Lucre Holdings for UAE with plans for 25 more outlets – both direct and through sub-franchising in next 5 years |
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Retail News, UAE: Aswaaq Inks Monoprix Tie-in: Dubai-based Aswaaq, a government-owned firm, has signed an exclusive partnership agreement with French corporation Monoprix to bring international products to aswaaq centres across Dubai. |
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Retail News, UAE: DED Launches Consumer Campaign Urging Retailers to Exchange/accept Sold Goods: The Commercial Compliance and Consumer Protection Division at the Dubai Department of Economic Development (DED) has unveiled a new consumer-focused campaign urging retailers to accept or exchange goods sold. |
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Retail News, UAE: Al Tayer Group to Launch Crate and Barrel's First Stores Outside North America: Al Tayer Group LLC announced a franchise agreement with leading home furnishings retailer Crate and Barrel to open stores in the Middle East in early 2010. |
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Retail News, UAE: @home Opens Doors in Abu Dhabi: Al Tayer Group launches its first @home store in Abu Dhabi at Al Wahda Mall offering a glamorous and fashionable range of products for the entire home including bedroom, bathroom, kitchen, dining, living room, general home décor, and home appliances. |
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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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Melinda Walsh, Director of Marketing, Senzo Mall
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Mohamed Khater, Financial Controller, Senzo Mall
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| OMAN |
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Abdulhafeedh AlBalushi, Deputy General Manager, MAF Shopping Malls
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| SAUDI ARABIA |
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Mohamad Ballout, Senior Manager, Emaar- The Economic City
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| UNITED ARAB EMIRATES |
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Camilla Hicks, Manager, Jones Lang Lasalle
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Gavin Nel, Operations Manager, MAF Shopping Malls
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Laura McLauchlan, Director, Jones Lang LaSalle
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Olesya Buravskaya, Retail Manager- Mall Promotions & Media, MAF Properties LLC
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| UNITED STATES |
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Vincent Iacobellis, Callison Architecture
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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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