The International Institute for Research (IIR) organisers of the inaugural Retail City, an international retail real estate conference and exhibition, has unveiled the conference agenda and speaker line-up for this ground-breaking event. To be held at the Dubai International Exhibition Centre (DIEC) from 4-6 June 2006, the conference will address the key industry topics and current issues prevalent in both the international and the dynamic regional retail development sector.
However, one of the most eagerly awaited sessions is the presentation on retail development around the globe and the trends already evident throughout the region. According to Retail International, shopping centre development in the GCC will grow by 140% over the next five years. However, investors are now becoming more strategic and there has been a subtle change in direction, choosing to anchor mixed use developments, thus inheriting a virtually guaranteed ‘local’ market for the retailers and maximising their own return on investment (ROI).
Retail City International Exhibition Director, Franck Dailles commented, “The growth in retail developments alone is colossal, but it is clearly supported by the growth of mixed use developments. Retail facilities will breathe an enhanced quality of life into these communities producing a win-win situation for the retailers, the investors and the residents”.
Mega mixed use projects are being developed throughout the region at break-neck speed. Dubai leads the way with Dubai Festival City, Dubai Waterfront, The iconic Palm developments and the Downtown Dubai, which will house the world’s tallest building, the Burj Dubai. However the rest of the region is in hot pursuit, with the breathtaking Pearl Qatar, The Wave in Oman, Bahrain’s Al Areen project, Failaka Island in Kuwait, King Abdullah Economic City in Saudi Arabia, plus numerous other multi million dollar projects in, Lebanon, Egypt and Jordan.
“In some ways it is an unlikely alliance, in the US and parts of Europe, major retail parks situated in purpose-built out-of-town developments, were accused of killing the communities in and around the traditional town centres. Throughout the GCC region, we are witnessing the reverse trend where retail developments are seen as an integral element of these new communities” added Rohan Marwaha, Exhibition Director of Retail City.
Other key conference sessions will include, ‘Your Retail Challenge: Growing Your Business In A Changing Market’ where Peter Walichnowski, CEO of Skylan Properties in Korea, China and Malaysia will address the rapidly changing retail landscape and the subtle differences between branding and marketing to both local and international consumers, something all regional retailers will need to master. ‘Shopping Centre Development: Economic Opportunity-Social Responsibility’, will be presented by Walter Kleinschmit, President of R2E Consultants in Saudi Arabia.
Jayne Rafter, Publishing Director of Retail & Leisure International in the UK has a thought-provoking presentation on ‘Capitalising On The Middle East Retail Boom’ what does the region have to offer the international retailer, “….is Dubai the new Las Vegas?” she poses. In addition, Shahram Shamsaee, will deliver an authoritative speech on ‘Retail Real Estate Developers’ Perspective On The Essence Of Retailing.’ Shamsaee is VP Leasing of Dubai-based MAF Investments, one of the Middle East’s leading retail real estate developers, who was responsible for launching the iconic ‘City Centre’ retail brand throughout the region from Egypt to Oman.
