Dubai: Abu Dhabi is busy filling all the gaps in its retail space.
“After a period of significant under-supply, where many of the major malls have been running at close to 100 per cent occupancy, Abu Dhabi is now entering into a new growth period for retail stock,” said Nick Maclean, managing director at the property consultancy CBRE.
In the next four years, around 8.6 million square feet (798,966 square metres) of new mall space across nine schemes will be delivered to the market.
“During this period we anticipate a dramatic transformation of the retail landscape in Abu Dhabi, both in terms of supply and quality,” Maclean said.
“New retail destinations such as the recently opened The Galleria and the soon-to-be-opened Yas Mall are helping to increase the emirate’s exposure, bringing new brands and concepts to the region.
Overall, these are exciting times for the retail industry in the capital.”