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GCC retail real estate market soars
- Tuesday, January 29 - 2008 at 06:52
The retail real estate market in the GCC is the fastest growing in the world, according to a recent study by Epoc Messe Frankfurt, organizer of Middle East Toy Fair which will take place from March 31 to April 2, 2008 at the Dubai International Convention and Exhbition Centre. More than 16.35 million square metres of gross leasable area (GLA) is expected to be completed by 2010, an increase of 565% in available GLA found in the region since 2000, which then stood at 2.46 million square metres. Within the GCC, the UAE and Saudi Arabia will see the highest GLA increase, with Dubai witnessing the largest actual increase from 1.17 million square metres in 2006 to 4.25 million square metres by the end of the decade.
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Jeff Florian, Senior ReporterTuesday, January 29 - 2008 at 06:52 UAE local time (GMT+4)
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