Bahrain's retail industry remains a major area of development, owing to favorable government initiatives to attract more consumers and diversify the market. The restored trust between retail employers and developers is evident according to Cluttons, a prominent worldwide real estate consultant, in the fact that retail rents have stayed stable over the past six months. used cars for sale
Faisal Durrani, Head of Research at Cluttons, remarked on the property market outlook of Bahrain Winter 2017/18 stating, "Residential residents are drawn to regions of strong retail penetration, and retail is important in enabling different parts of the Kingdom to achieve their full potential. We saw an increased number of retail developments in neighborhoods such as Juffair, while bigger shopping complexes such as the 45 million BD 'The Avenues.'
We anticipate that this year in Bahrain there will be 78,015 square meters of new retail space up to roughly 93,000 square meters in 2018 and more than 455,000 m2 by 2020. The Gulf's biggest IKEA is scheduled to open next year at a cost of 47 million BD, apart from the building of retail centers, and employs up to 600 people."
Research from Cluttons indicates that developers' confidence in the industry is evident in the fact that 21 retail systems totalling more than 1.05 million qm now monitor and cost over 277 million BD. All initiatives are anticipated to be finished between now and the beginning of 2020.
A third of EMEA shopping mall visitors Just go dine and drink, not shop.
According to a recent CBRE study, shopping malls across Europe, Middle East and Africa are now the first location for food and drink (EMEA).
A study of 22,000 consumers in 22 EMEA countries shows that 41% prefer eating in shopping malls compared to 10% in high-street restaurants and cafés and 7% in retail parks.
A third of the interviewees claimed they went to shopping centers just for food or drink. Even if they had just to eat or drink to visit the facility, four out of ten went to the store.
The availability of food and beverages has been considerably valued by 90 percent and 86 percent in South Africa, with about one-half (57 percent in the UAE and 65 percent in South Africa) visiting stores almost often, despite their lack of food or beverage. The UK is lagging behind the UAE and South Africa in terms of food and drink availability; 65% think it is essential and just under half (47%) say they are going to shop afterwards.
Andrew Phipps, Head of Retail Research and Consultancy at CBRE, says "The fact that a strong food and beverage offering is essential for foot traffic and revenues in a shopping mall is obvious. It was a period when a tiny fast-food selection or a dreary food court was enough to make a visit. They are now an attraction and a good food and drink experience is what truly appeals to consumers."