Dubai's share of GCC retail space to double by 2009

He predicts it will double its current 17% share to 34% of the GCC retail space within five years.

Speaking before the 10th Annual Conference and Exhibition of the Middle East Council of Shopping Centres (MECSC), Thomson revealed that Dubai's retail space will increase by 1.5 million sq. metres from the existing 600,000 sq. m. A potential addition of 900,000 sq. m could see the total soar to 3 million square metres.

"Across the GCC, nearly 3.8 million sq. m has already been completed and a further 2.2 million sq. m is under development," said Thomson.

"With an additional probability of 600,000 sq. m and the possibility of a further 2.8 million sq. m the overall potential is around 9.4 million sq. m."

Thomson said the main concentrations are Dubai (631,000 sq. m), Jeddah (595,000 sq. m), Abu Dhabi (460,000 sq. m) and Riyadh (411, 000 sq. m).

On the wider Middle East, Thomson said; "Cairo and Beirut seem set to become key regional retail destination centres, with a combined space of 500,000 sq m to 600,000 sq. m, outside the GCC by 2009.

"However, the region needs to guard against complacency as the rapid rise of wealth in China, India and Russia and their massive population growth is attracting attention of world retailers.

"Even remote villages in these huge countries will be within easy reach of leading global brands," he warned.

MECSC, the industry body for the regional shopping centre industry, will hold its convention in Dubai from October 4 - 7 at the Jumeirah Beach Hotel's Convention Centre.

The importance of the convention is underscored by the tremendous developments in the retail sector, especially in Dubai, where each week major projects are being announced.

These developments, with investments projected to reach US$ 10,000 million by 2010, need a lot of systematic planning to keep the projects profitable in the long run.

"The MECSC Conference and Exhibition has the official endorsement of the Dubai Convention Bureau - Department of Tourism & Commerce Marketing (DTCM)," said Kim Redman, Regional Director, MECSC.

"The official support from the DTCM is a tremendous boost to the MECSC's commitment and efforts in keeping the Middle East's shopping centre professionals at the forefront of global retail developments."

About the conference, Redman said topics have been chosen carefully keeping in mind the needs of the region's shopping centre developers, owners, operators and marketers.

The MECSC conference will examine several key issues including, 'Shopping Centre Success: 'The Ten Commandments' by Peter Walichnowski, CEO, MAF Investments; 'The Secrets to Retailing Success in the Global Marketplace' by Mohammed Al Shaya, CEO of Kuwait's Al Shaya Group; and an open forum 'A 20 year retrospective' hosted by Walter Kleinschmit, General Manager of Riyadh's Kingdom Centre.

The programme will also discuss 'The Emerging Trend towards Lifestyle Centres' by Michael P. Kercheval, President, International Council of Shopping Centres (ICSC); 'New Retailing Dynamics for Growth' by Edward Whitefield, Chairman Management Horizons Europe - UK; 'How to Compete in a Competitive Market' by Gary Whittemore, General Manager of Footfall Asia; 'Positioning and Brand Equity - How to gain a Competitive Edge' by Bob Pritchard, CEO, Marketforce One, USA.

In addition, two half-day workshops 'The ABC of Leasing' by Walter Kleinschmit and 'Best Practice in Property Management' by Duncan Waddell, Managing Director, FM Intelligence Pty Ltd, Australia, complete the entire spectrum of shopping centre challenges faced by regional industry professionals.

Meanwhile the exhibition, which is three times bigger than last year, has participants from Australia, Hong Kong, India, Italy, Saudi Arabia, Thailand, USA, UK, South Africa and the UAE. Major mall developers, retail interior specialists, property management experts and companies launching the latest POP display products into the region, will be at the show.

Registrations for the event can be made through the MECSC website www.mecsc.org or by sending an email to register@mecsc.org.

Platinum sponsors of the MECSC Convention and Exhibition are Jumeirah Beach Residences and Dubai Festival City. The event's other key sponsors include PMDC Cluttons, Burjuman Centre, Arabian Oud, FootFall, Grand Optics and Mastercard.