Niche malls gain popularity in the UAE

iMall in Sharjah is a value-based shopping mall with a portfolio of fashion and lifestyle brands along with IT shops.

One of the easiest ways of getting noticed as a shopping destination in the retail industry is by having a stunning attraction or catering to a niche segment.

Mall of the Emirates and The Dubai Mall boast an indoor ski slope and the dancing water fountain respectively, while Dubai Outlet Mall offers a range of factory outlets that are popular with bargain hunters. Similarly, many mall developers have been quick to determine that there is a real value in ensuring that any new mall in the pipeline has a niche offering that will set it apart from other malls.

"I believe there is space for niche malls or malls with a unique tenant mix," said Monir Lotfi, director of Al Bustan International Group. "The success of a mall depends on various factors, including the classification of the shopping mall, location, tenant mix, promotion and marketing strategy, as well as mall operation."

Speaking at the recently-opened iMall in Sharjah, Lotfi said: "iMall was initially planned as a technology destination and eventually, based on research and market feedback, it evolved into a value-based shopping mall providing consumers with a portfolio of fashion and lifestyle brands along with an array of IT shops. Additionally, with regards to an overall offering as a mall, our game district is quite technology-focused and provides a unique opportunity for kids to be immersed in the tech and gaming world."

The idea behind iMall, he notes, was to create a value-based shopping mall in order to cater to the IT needs of customers in the middle-class segment, who are on the lookout for good tech deals in a comfortable retail environment.

"With regards to the market for IT products in the UAE, the consumer electronics/IT sector will always swing from time to time just like any other industry. However, this sector, in particular, is a key driver of economic development on a global level and can be driven with constant innovation. We just have to constantly keep up to date with the latest trends and changing consumer demands," Lotfi said.

He also revealed that with regards to the IT sector, the new mall's key focus has been on SMEs, predominantly due to their ability to offer flexible pricing as well as a willingness to negotiate with consumers.

"Our plan for the next year is to bring in a mix of retailers who can add to a customer's shopping experience and offer a complete family experience," Lotfi noted.

- rohma@khaleejtimes.com