The International Institute for Research (IIR) organisers of the popular Cityscape 2005, have announced that Abu Dhabi based Aldar Properties PJSC has signed up as platinum sponsor in support of the inaugural Retail City, an international retail real estate event to be held at the Dubai International Exhibition Centre (DIEC) from 4-6 June 2006.
Adel Abdulla Al Beraiki, Sales & Assets Management Director, ALDAR Properties PJSC said: “We are experiencing great demand from retail professionals looking for investment opportunities and as a part of our marketing strategy we wanted to support Retail City, which we believe will provide a solid platform to drive the regional retail real estate sector”.
Middle East retail real estate developments rank as the second largest growth sector after the residential real estate sector. Over the next five years 11 million square metres of retail floor space is expected to be completed throughout the GCC and over US$65 billion is currently invested in the GCC retail sector. This is estimated to generate US$30 billion a year from shopping malls within the GCC, or in other words, nearly 10% of total estimated gross domestic product of the entire GCC.
Retail City International Exhibition Director, Franck Dailles said, “Our own thorough research at Cityscape 2005 indicated that we needed to organise a stand-alone retail real estate event. Since launching Retail City, we have witnessed a real surge in demand and the fact that a premier organisation like Aldar Properties has chosen to support this new event, underscores our decision”.
Retail City comprises a three-day networking exhibition and conference that will aim to bring together international retail property professionals to develop new joint ventures, exchange views, identify new investment opportunities and encourage retailers and franchises to set up shop in the Middle East.
The three-day conference will feature ‘Leaders in Retail’ which will gather some of the sharpest and most creative and innovative minds to discuss the future of global retail today. The Retail City conference, which will provide valuable knowledge and insight into all areas of the retail sector from project concepts and architecture to development and from store design to marketing progression. Dedicated post-conference workshops will scrutinize topics such as marketing retail property development and maximising store productivity.
Dailles concluded, “With lofty oil prices and FDI at an all-time high, combined with massive increases in tourist numbers and one of the fastest growing populations in the world, ‘The Call Of The Mall’ will be heard throughout the region for sometime to come”.
