In its 1Q16 review of Dubai’s real estate markets, JLL noted that retail rents are falling. In 1Q15, rental growth had been slowing. Total retail supply increased from 3.0 million square metres (gross lettable area) in 2014 to 3.2 million square metres in 2015 to 3.4 million square metres in 1Q16. Additional supply is expected to amount to 163,000 square metres through the remainder of this year, with another 154,000 square metres in 2017 and 40,000 in 2018. Hot topics for the retail market include slowing growth in overall retail spending.

Source : JLL/Mar 2016/Dubai/RET