Dubai shopping festival sales up by only 17%
This year's the total sales at Dubai Summer Surprises (DSS) shopping festival increased by just 17%, failing to keep pace with the increase in the city's gross leasable area (GLA) following the opening of record-sized The Dubai Mall.
According to data from 23 Dubai malls, compiled by the Dubai Shopping Malls Group (DSMG), DSS sales increased by 17% from the previous year.
Essentially, the opening of the Dubai Mall helped boost the sales. The Dubai Mall is the largest mall in the world, and local shopping centers - Arabian Centre, Dubai Marina Mall and Oasis Centre.
CB Richard Ellis (CBRE), expresses, "When all its stores have opened, The Dubai Mall alone will have added around 23 percent to Dubai's gross leasable area (GLA), which stood at roughly 1.5m sq m at the time of the opening in November last year."
Emaar Retail said on Thursday that the phased opening of the mall means that only about 75% of all outlets are presently operational.
Organic Market Europe
New Zealand News
- Bridge Investment ordered to stop work on Tinian Casino project due to lack of permits
- Philippines government warns public not to patronize illegal online gambling operations
- Eldorado Resorts’ capital raising plans could be catalyst to finalize $17.3bn Caesars deal
- BetConstruct obtains license to offer Sportsbook and Casino products in Swedish market
- SkyCity reports “encouraging” business since reopening of three casinos following COVID-19 shutdown