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GCC cities and mega projects can reach the ranks of iconic shopping destinations such as London, New York, and Milan. A new report I developed with Ramy Sfeir, Makram Debbas and Matteo Amici explains exactly how. We outlined a careful and systematic approach for destinations to curate the right retail offerings, create compelling shopping experiences, and capture a bigger share of domestic and foreign shopping spend. Learn how the retail sector and governments can work together to activate their potential. #retaildestinations Strategy& Middle East

Flavour Frenzy: Australia’s culinary scene ignites operator enthusiasm - Colliers Retail spending in QLD/WA/SA has continued to outperform the national average since October 2023, with current retail spending growing +2.64% in May-24 compared to the same month last year in these states shows Colliers Research data. Colliers Senior Executive in Retail Leasing Brisbane, Chloe Lonergan said “As Australia experiences a culinary boom in Brisbane, Perth, and Adelaide, F&B operators are keenly eyeing new locations. In 2023, Brisbane CBD witnessed the opening of 26 iconic bars and restaurants within its CBD and fringe market, with an additional 13 opening in 2024. These developments signal a surge in demand and spending potential across these states.” Colliers Research data shows that average rents for restaurants and dining in these cities can range from 15% to 30% less than major cities Sydney and Melbourne. Read more on COMMO - https://lnkd.in/gx8mbABG Colliers Chloe Lonergan Nik Potter Michael Tuck Joel Humich Richard Cash Will Goldsworthy Heath Wakeham Adam Lester Ben Laycock Sarah Casey The Hotel Conversation Harry Dever Lachlan MacGillivray #retailmarket #colliersresearch #fandb #marketresearch #retailinvestments #cbdmarkets #retailrents #retailgrowth #retail #colliers #hospitalityindustry #retailrealestate #shoppingcentre

With the potential to rival global shopping destinations, GCC cities are poised for transformative growth in retail, shaping the future of urban economies. According to Strategy& part of the PwC network report, Dubai ranks with global leaders like London, Milan, NYC, Seoul, and Tokyo in retail spending per capita ($8,000-$18,000) and plays a crucial role, contributing up to 24% to urban GDP and employing up to 20% of the workforce. As a leading GCC retailer, we embrace this opportunity to drive economic growth, enhance retail experiences, and elevate the region's global standing in retail and tourism. https://lnkd.in/ddnFmJEU

GCC shoppers are grappling with poor customer experience, marked by challenges in product availability, shopping venues, prices, and events and promotions—prompting many to seek better alternatives abroad. In “Shopping for Growth,” we present actionable strategies to tackle these challenges and elevate GCC cities into global #retaildestination. https://pwc.to/3Mo2PZl

It was a pleasure to attend the Property Council of Australia Queensland’s Retail Outlook Breakfast last week which featured keynote speaker Ian Shimmin from Urbis and panel members Bronwyn Cooper from QIC Real Estate, Alison Riley from BSR Group - Betta Home Living and Emma Chettleburgh from Vicinity Centres. Some thought-provoking takeaways event included: • Retail trade growth rose 8% pa after COVID-19 (2022 onwards) compared to 4-4.5% pa pre-COVID-19. • Regional shopping centres have grown in turnover by 11.6% ($PSQM), and is expected to continue this trend. • Shopping centres which have lost major retailers (Kmart, Target, Big W, Myer, David Jones) have improved performance per sqm of floor area. • We’ve seen a shift from retail to non-retail uses at shopping centres, particularly for centres with good entertainment propositions (i.e. dining). • The prospect of retail development is limited due to construction issues, however, it is expected to be in shortfall/demand once conditions normalise. • Evening activity for retail precincts will be the focus for Brisbane moving forward. • Car showrooms in shopping centres are popular overseas, so why not domestically? We look forward to providing our contribution toward shaping the retail landscape in the SEQ region in this time of growth. Saurav Naidu & Nicholas Condoleon #ratio #fosteringchange #southeastqueensland #pca #planning #transport #retail #development

Many GCC cities aren’t equipped to become global #retaildestinations — yet. But that could change, and major economic and job opportunities would follow. Learn how GCC cities can overcome shortfalls and turn the GCC into a vibrant shopping destination. Details are in “Shopping for growth.”

Retail could become a cornerstone of the GCC’s economic transformation. Discover how GCC cities and mega projects can adopt a systematic approach to: 🔹 Boost urban GDP 🔹 Generate new job opportunities 🔹 Retain spending within the region 🔹 Enhance customer experience Dive into the details in “Shopping for Growth,” a new report I wrote with Ramy Sfeir, Makram Debbas and Sukalp Tipre. With the right governance model, a clear retail vision, and coordinated efforts, GCC cities and mega projects have the potential to compete with world-class shopping destinations like New York, London, and Milan. #retaildestination Strategy& Middle East https://lnkd.in/dBQGbE3s

Despite mixed results, @PwC UK's 2023 store openings and closures results show that hospitality chains are generally performing well. ❓However, it is independents that are feeling the pressure with difficult trading conditions, and rising costs. Find out what this means for the sector in 2024. https://pwc.to/3IYk9ma #IndustryInFocus

Despite mixed results, @PwC UK's 2023 store openings and closures results show that hospitality chains are generally performing well. However, it is independents that are feeling the pressure with difficult trading conditions, and rising costs. Find out what this means for the sector in 2024. https://pwc.to/3IYk9ma   #IndustryInFocus

The retail landscape is evolving with long-term structural changes. As a result, many retail brands are reassessing their store locations and numbers across #HighStreets to ensure they can effectively reach their customers. 2023/24 has seen increased activity outside the top 100 ranked retail destinations Read latest Savills Global Retail and Leisure insights … #thoughtleadership #nationalretail Tom Whittington