In 2024 Dubai retained its attraction as a trade and business centre. The tourist activity and purchasing power are on the rise. Thus, one of the world’s most popular SCs Dubai Mall broke its own record, having received and entertained 111 million people in 2024.
At the end of 2024, total rentable retail space in all of the Dubai malls had reached 47.3 million sq ft (4.2 million sq m). At the moment the supply (11 million sq ft or 1 million sq m) in the key SCs is notably limited, which is not conducive to satisfaction of the rapidly burgeoning demand for retail space rent. At the moment there are waiting lists for quality retail space in the Emirate’s key malls. Property owners are getting more fastidious in how they pick tenants, which creates competition for vacant retail space and will be driving operators toward introducing innovative concepts and unique formats, capable of demonstrating the viability and success of brands.
In 2024 Russian brands went on their expansion to the UAE market, given that for many Russian operators Dubai is the key market and their success in that destination enhances a brand’s reputation, acclaim and opportunities for international expansion both in the Gulf states in other regions.
The gastronomic culture of Dubai is noted for unique diversity and dynamic evolution. In recent years the city has become a true centre of culinary innovations with international restaurant chains and local conceptual establishments represented here. However, the given sector never stops in its evolution and so new attractive locations and concepts show up all the time.