Andrea Zaffin, Founder and Managing Partner of Proriented, comments the Article "Dubai's Retail Space to Surge by 50% in Three Years, CBRE Says"
Normally I am not so inclined to easy going optimism so reading the article at the beginning I was pretty doubtful too of all what is going on.
On the other side having being 18 years in Dubai and having experienced the amazing transformation of the city I started turning my thoughts imaging that this huge increase of retail space actually can be a challenge but also a phenomenal opportunity for Dubai to upgrade commercial real estate and correctly as mentioned in the article to requalify underperforming retail areas to new destinations.
It is true that what is going on is truly massive, it is also true that Dubai proved over the years to have an amazing capability to cope with challenges that initially were looking unachievable.
One for all the ambition to become the biggest international airport in the world headquartering the biggest international airline of the world ….bigger than Heathrow bigger than British Airways….unthinkable 15 years ago….well mission successfully accomplished a few years ago! (ok ok I know I am talking about transportation vs retail it is different ….Yes you are right….However, the spirit driving the ambition to succeed is the same!)
Yes, the challenge this time seems again too big…. the vision first and the execution after to deliver a massive wave of modern new retail space to lead Dubai to become the ultimate global retail destination ….no matter what I definitely love Dubai taking this challenge …..and looking forward to the next one!