Abu Dhabi – Mubasher: Abu Dhabi’s retail gross leasable area (GLA) is expected to reach 2.7 million square metres, according to a statement by Jones Lang LaSalle (JLL).
Around 57,000 square metres of retail GLA is expected to be delivered by the end of 2017, primarily within mixed used schemes.
Retail GLA is expected to rise to 2.9 million square metres by the beginning of 2019, following the delivery of Al Maryah Central Mall in 2018.
Average line store rents within well-located malls on Abu Dhabi Island remained stable at AED 3,000 per square metre pascal (p.a).
Average line store rents within malls off Abu Dhabi Island also remained stable at AED 1,860 per square metre p.a.
While rents have generally remained stable this quarter, mall operators have been offering increased tenant incentives to attract and retain retailers given the current reduction in retail spending.
