Retail City 2008

Retail City 2008, the three-day industry showcase for investment and development of retail real estate for the $100 billion regional retail sector, opened yesterday at the Dubai International Exhibition Centre.

Opening the event for the third successive year was Sultan Ahmed bin Sulayem, Chairman of Dubai World. Bin Sulayem has been consistent with his rebuttal to those critics who feel that the current retail phenomenon is not sustainable. "Demand will dictate growth. Look at exhibitions such as Retail City. It shows that the retail industry remains a growing, and vibrant business in the region."

During Bin Sulayem's opening tour, it was evident that this year's event was dominated by developers and retail professionals from Abu Dhabi, Dubai, Jeddah & Riyadh. During the official opening tour, bin Sulayem visited a number of key exhibitors, including Mohammad Alhabib, who are developing 2.5million of Gross Leasable Space (GLA) in Saudi Arabia and were displaying a number of projects across Saudi Arabia, including the Panaroma Mall in Riyadh, Alandalus in Jeddah and Jarir Plaza in Dhahran.

He also visited Schon Properties, who have 50,000 square feet of retail space under development in Dubai Lagoon and another major project at Downtown Jebel Ali.

"Retail operations are a key element of all of our projects, where we provide a comprehensive range of features and amenities affording residents easy access to everything they need to live a convenient and comfortable life, said Danial H. Schon, VP Schon Properties.