Saudi Arabia-based Alandalus Property CEO, Hathal Saad Alutaibi believes the correct usage is ‘destinations’ as opposed to retail real estate. Retail spaces are curated for individuals to fulfil their needs and spend a good time. It’s quite different from renting an office space. It must be a destination of choice, acting as the individual’s ‘third place’, after home and work place. That is the kind of aspirational retail spaces that Alandalus Property are striving to build and rejuvenate.
RetailME spoke to Alutaibi about the state and evolving nature of retail spaces in the Kingdom and what the ‘mall of tomorrow’ will look like
Shopping malls and retail spaces used to be driven by architectural design and the tenancy mix – an activity undertaken by the leasing team – without much focus on the real needs of the end users – shoppers. The fallout of such a model is the rise of e-commerce that started offering customers more choice and convenience.
“Think about it. Today online and offline are not competitive anymore. Digital is a great platform to engage. Online-only retailers are also creating experience centres when they have the required financial strength. If the right engagement strategy is in place, it is possible to bring shoppers from online to offline. They will browse online but buy in stores. They will spread the word on social media. It’s all about engaging and differentiating,” Alutaibi emphasised.
“The fundamentals of the industry are now changing,” he added. “There is a clear shift towards food and entertainment, while leasing, to create a higher level of engagement with visitors and shoppers. We have consciously changed our outlook towards retail real estate and shopping malls, which are no longer transaction-only locations. Now we work towards creating destinations of choice that not only draw but retain visitors for longer and bring them back more often. What we sell is no longer a square metre of retail space, we are now in the business of selling experiences.”
Read the full article in the November edition of RetailME
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BLandmark Group’s ‘Circulife’ could be a “giant leap” towards UAE’s textile circularity goals
“We want to not just match the price; but beat it,” claims Chemist Warehouse CEO
Landmark Group to invest $1-bn to grow the business, open 400 stores
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
Why cinemas, wellness sanctuaries and cultural districts are becoming emotional infrastructure for
From bullion to boutiques, investment to immersion, Dubai Gold District marks a
An evening where global retail leadership met Saudi Arabia’s rising influence in
Under the patronage of His Royal Highness Prince Saud bin Mishaal bin
Alandalus Property Company is one of Saudi Arabia’s leading real estate investment
Red Sea Markets Company unveils a transformative evolution to Red Sea Mall,
The Point represents a strategic partnership between the Red Sea Markets For
Azad Properties, a leading real estate developer in Saudi Arabia, has signed a Memorandum of Understanding (MoU) with the National Housing Company (NHC).
NRF Vice President of Education Strategy Susan Reda forecasts 2025’s retail trends
The Dubai Duty Free (DDF) has recorded sales of $1.94 billion up
Previous Article
