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Dubai attracts prominent business leaders for MECSC Convention
- United Arab Emirates: Tuesday, April 22 - 2008 at 13:46
- PRESS RELEASE
His Excellency Sultan Ahmed Bin Sulayem, Chairman of Nakheel, has opened yesterday the 13th annual Middle East Council of Shopping Centres (MECSC) Convention.
Today, the first day of the conference, delegates were spellbound by presentations from international speakers Eric Kuhne and Karim Rashid.
Kuhne was compelling in his address. According to Kuhne, cities have always been marketplaces for commodities, goods, services and faith, he believes that none of these truly reveres the power of civic life in contemporary society.
"Eric Kuhne exudes story-telling genius. He beautifully illustrated the ways that retail can become the new dimension of how experience takes precedent over architecture and the way that we can utilize retail to reclaim the pageantry of civic life to our cities," said Mr Majid Saif Al Ghurair, Chairman, Middle East Council of Shopping Centres and President, Burjuman.
Karim Rashid showcased the topic, "The Design Experience Economy" in a gripping presentation encompassing the impact of design on consumer experiences and his own passion for the industry.
"...who better to talk about design than Karim Rashid? He has an impressive array of clients from Umbra to Prada and Mikyake to Method, and is recognized around the world as one of the leading figures in product and interior design, fashion, lighting, furnishings and art. His presentation to the delegates of the MECSC conference was nothing less than inspirational," said Mr Mohammed Alawi, President, Middle East Council of Shopping Centres.
Day Two of the convention will feature An Overview of the Middle East Retail Scene (presented by John Davis, CEO Colliers International), The Relentless Pursuit of Excellence - Where to from here? (presented by Hamish Taylor), Managing Change in Rapidly Developing Markets (presented by Dr Tommy Weir, Nakheel), and finally, what has been billed as the Blockbuster Finale, Funky Business (presented by globally acclaimed, Prof. Kjell Nordstrom).
The convention comprises two key components: the Conference and the Trade Exhibition which features the Leasing Fair, Trade Expo and new for 2008, a dedicated Retail Zone, which showcases existing brands and newcomers seeking to expand their presence in the region.
"Today we welcomed record numbers of delegates to the convention. All areas of the industry have enjoyed strong representation at this year's event including shopping centre owners, developers and managers as well as real estate professionals, marketing professionals, architects and bankers." said Ms Kim Redman, Regional Director, Middle East Council of Shopping Centres.
The 2008 MECSC Annual Convention is sponsored by Aldar, Colliers, Dubai Properties, Emaar Malls Group, Burjuman, Grand Optics and Ovaz Marketing & Investment.
Recognised as the Middle East's premier networking event for the retail real estate industry, the convention continues and members of the general public are encouraged to visit the Trade Exhibition to learn of the latest retail real estate developments in the Gulf.
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Notes and media contacts
Please contact Sharon Garrett + 9715 0 550 5486 to schedule interviews or for press passes for Day 2.Quick Facts
-By end 2009 the retail sector will contribute as much as 50% to Dubai's Gross Domestic Product.
-At end 2007 the Gulf had 7.75 million square metres of Gross Leasable Area of organized retail space, a 2.1 million square metre increase on the previous year.
-Retail Realty sector predicts a similar, if not larger, GLA increase in 2008
-Retail spending for the UAE as a whole, to surpass the AED37 billion-mark by 2009
Dubai's retail spending is forecast to cross AED 27.8 billion by the end of next year as a result of the massive retail and commercial developments such as Dubai Festival City, Mall of Arabia, Mall of the Emirates and the Dubai Mall.
-Looking towards 2020 current forecasts predict a completed supply of organized retail footage in excess of 18.5 million square metres across the existing GCC nations.
About Middle East Council of Shopping Centres (MECSC)
The MECSC is based in Dubai, United Arab Emirates and is a voluntary, non-profit association. Established in 1994, the council has more than 750 active members, presided over by Majid Saif Al Ghurair, President of the Burjuman Centre. MECSC represents shopping mall owners, developers, marketing managers, leasing managers and specialists, retailers, consultants, property managers, financiers, accountants, government officials and industry suppliers. MECSC covers a territory of 18 countries including Algeria, Egypt and Tunisia in North Africa, Jordan, Lebanon, Palestine and Syria, in the Levant, the six Gulf Co-operation Countries (GCC) of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, as well as Iran, Iraq and Yemen.
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Posted by Medilyn Manibo, Assistant News Editor
