Supported by the recovery of demand, “competitiveness” and tourism activity
Retail outlets intend to expand in the country's markets during 2022
Aswaaq Group intends to establish 4 commercial centers with advanced systems.
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Officials of retail outlets confirmed to "Emirates Today" that they are working on expansion plans to establish centers and branches during 2022, pointing out that the new expansions come with the support of market indicators that expect more recovery in the shopping sector in the coming months, and high competitiveness in the market. As well as tourism activity, Expo 2020 Dubai, and recovery from the repercussions of the “Covid 19” pandemic.
"Union Cooperative"
The Director of Marketing and Happiness Department at the Union Coop, Dr. Suhail Al Bastaki, said that the Department of the Cooperative has new expansion plans this year, which include the establishment of three commercial centers in different areas in Dubai.
He explained that the expansion plans come with the support of expectations of demand growth, and the continued recovery of the retail trade sector during the coming period.
He pointed out that the new expansion plans include the establishment of a commercial center in the "Al Nahda" area, to be built on an area of 176,240 square feet, and is expected to be launched during the second quarter of 2022, at a cost of 58 million dirhams.
He added that the second place will be in the "Motor City" area, on an area of 468,434 square feet, in what is expected to be launched during the third quarter of 2022, and it is in the category of residential commercial projects.
Al Bastaki stated that the third commercial center will be built in the Nad Al Hammar area, with a construction area of 169,036 square feet, and is expected to be completed during the second quarter of this year, at a cost of 57 million dirhams.
"Aswaaq" group
In turn, the official spokesman for the "Aswaaq" group centers of the "Government Investment Corporation of Dubai", Abdul Hamid Al Khashabi, said that the group intends to establish new centers in Dubai during the current year, pointing out that the expansion plans include four commercial centers with developed systems for the retail trade sector.
Al Khashabi stressed that the positive indicators recorded by the sector during 2021 were among the motivating factors for many outlets to expand during 2022, especially with the expectations of recording large positive demand and recovery rates in the shopping sector in general, during the current time and the coming months.
«Sharjah Cooperative»
In the same context, the Director of Community Relations at the "Sharjah Cooperative", Faisal Khaled Al Naboodah, said that the administration of the "Coop" intends to establish three new commercial outlets for it during 2022, to keep pace with the growth of consumer demand and the high competitiveness in the retail sector.
He explained that the "Coop" intends to establish a commercial center in the "Al-Suyouh" area in Sharjah, which is expected to be completed during the third quarter of 2022, at an investment cost of about 200 million dirhams, stressing that the "Sharjah Cooperative" has actually started the steps for the construction of the center and has cut Advanced stages of it, in preparation for its launch in the coming periods.
He added that the new center will include a branch of the "Tawuniya", in addition to various other services in the retail trade sector, to meet the requirements of the residents of Al-Suyoh area and neighboring areas.
"Lulu International"
In the same context, Nanda Kumar, Director of Corporate Communications at Lulu Group International, expected the establishment of three new outlets during different periods of 2022.
He stressed that the continuation of the expansion plans comes with the support of the great recovery recorded by the retail sector during 2021, tourism activity, and the "Expo 2020 Dubai", which led to a rapid recovery from the repercussions imposed by the "Covid-19" pandemic, in addition to expectations of recording rates A bigger recovery in the retail sector this year.
high competitiveness
The expert on retail trade affairs, director of «Al Bahar Consulting Company», Ibrahim Al-Bahr, considered that the trend of many retail outlets, to expand significantly during the current year, comes within the framework of the high competitiveness witnessed by the sector during the recent periods, to obtain larger shares of sales, Especially in light of the recent recovery of the shopping sector indicators in the country's markets, and in light of the continued suffering of many markets in the world, the repercussions of the Corona virus pandemic.
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