Dubai is one of the fastest-growing cities in the world, a thriving, multiethnic cultural metropolis that caters to the upscale tourist as no other city does.
In a city where everything is over the top, dining and shopping are more than a pastime-it’s an Olympic sport! The shopping centers radiate with the entrepreneurial spirit of merchants bursting with extravagant concepts and imaginative products, restaurants and coffee shops presented in new ways.
A short number of local construction companies offers an array of exceptional-value retail leasing opportunities within its flagship mall, shopping centre, and retail developments. We have the key to get the best location that can make the difference for the success of your restaurant or coffee shop.
Shopping and Dining are big business in Dubai. The Dubai Mall, the world’s largest shopping mall based on total area, welcomed 80 million visitors in 2015. Emaar, its owner and developer, has announced an ambitious target of 100 million visitors a year to the mall once its one million sq ft first phase expansion is complete.
Tenant sales recorded across the mall’s 1,200+ retail stores and 200 F&B outlets, cumulatively grew by 14% in 2014, with growth seen across categories including fashion, luxury jewellery, footwear, sports and recreation, health and beauty, entertainment and especially food.
Your location in a center is important. Do you need to be in the main flow of customers as they pass between the stores with the greatest customer pull? Who will your neighbors be? What will their effect on your sales be?
What will rent really cost? In most nonshopping center locations, rent is a fixed amount that has no relationship to sales volume. In a shopping center, the rent is usually stated as a minimum guaranteed rent per square foot of leased area against a percentage. Typically, this percentage is between 5 and 7 percent of gross sales, but it varies by type of business and other factors. This means that if the rent calculated by the percentage of sales is higher than the guaranteed rent, you pay the higher amount. If it is lower than the guaranteed rent, then you pay the guaranteed rent amount.
But even though would be eventually easier to get a good quote of rent a completely different story is to get the right “available” space that ever make the real difference between a successful restaurant and a total business fail.