GCC: Huge potential of retail space

Published January 9th, 2006 - 02:46 GMT
Al Bawaba
Al Bawaba

The UAE, which continues to dominate the Gulf shopping mall sector, is inclined to post a 145 per cent growth in Gross Leaseable Area (GLA) to 2.7 million square metres or 0.57 square metres per capita by the end of 2006, according to a survey by the Middle East Council of Shopping Centres (MECSC).

 

Recent statistics also indicate that the AGCC states have a potential of 9.4 million square metres of retail space, of which Dubai accounts for a major share.