MECSC 2007 wraps up with success stories, cautionary tales

• Annual convention called biggest and best yet
• Retail developments on display draw high interest
• Possibilities and potential obstacles discussed

Dubai, March 21, 2007: The 12th annual Middle East Council of Shopping Centres (MECSC) Convention, the largest ever, wrapped up its two-day meet at the Dubai International Convention & Exhibition Centre on Tuesday. Along with a host of internationally-renowned speakers, this year’s conference saw high interest in its Leasing Fair & Trade Expo, in which over 45 exhibitors met and did business.

"We couldn’t be happier with the way this year’s conference has played out," said Kim Redman, MECSC Regional Director. "We are especially pleased that representatives from this vital sector were able to meet and discuss business with each other, and to keep up to date with the latest developments in the region. There really were some incredible projects on display this year, developments that promise to have a real impact on the regional economy."

Among the major announcements made during the event is The Souq, the initial retail component of Dubai Properties’ Culture Village project. The themed waterfront facility will cover 370000 square feet of a two-level shopping mall. The project was unveiled at the convention.

Many exhibitors made business deals during the premier networking event. The Ilyas and Mustafa Galadari Group, for instance, signed a deal with Azadea Group whereby the Mall of Arabia will contain 37 separate stores including Zara and the Virgin Megastore from the Azadea franchise portfolio.

Redman also praised the speakers at the conference. "Individually, you couldn’t have asked for a more knowledgeable and eloquent group," she said. "What’s really pleasing to me, though, is the way this year’s line-up worked together to provide a complete picture of what’s going on in the region, and then to have Middle East developments put into a global context. It was a fascinating programme."

Topics discussed ranged from the rising demand for luxury brands to the importance of visual merchandising. The final speaker was Cathy O’Dowd, the only woman to have climbed Mt. Everest from the north and south faces. O’Dowd, who refused to use her experiences as an "easy metaphor for achieving one’s goals," instead provided a chilling account of her difficult and, for one party member, deadly first climb. Teamwork, she said, was the only thing that kept the rest of the party alive.

Speakers at the conference predicted a bright future for shopping centres in the Middle East. Delegates heard that 53 million square feet of retail space has already been completed in the region, with another 160 million square feet expected within a decade. Despite these numbers, developers are seeing high demand from retailers. International brands are moving into the region at unprecedented rates.

Such growth, though, raised questions of sustainability. Infrastructure, labour and environmental concerns were raised at the conference. Future success, as one speaker put it, "is not a matter of building more malls or bigger malls or more entertaining malls," but understanding the market and adapting to it. Developers were told that to ignore changing tastes among consumers was to risk extinction, a fate that has befallen some mega-malls in the US.

"That’s one of the things that made this year’s programme such a success," said Redman. "Speakers didn’t attempt to sugar coat reality, but provided an honest, accurate picture of the opportunities and challenges that lie ahead. Shopping centres are increasingly playing a vital role in regional economies, and their growth must be managed intelligently and responsibly. The great value of this conference is that it allows industry professionals to get together to discuss the issues face to face."

The premier event of its kind in the region, the 2007 MECSC Convention was the largest yet. Speakers at the event included Majid Saif Al Ghurair, MECSC Chairman and President of BurJuman; James Bellini, a leading Futurologist; Michael Kercheval, President of International Council of Shopping Centres; Phil McArthur, Managing Director Shopping Centres and Commercial Real Estate, Al Futtaim Group; Steve Kaufmann, Editor of Visual Merchandising and Store Design; Radha Chadha, Principal, Chadha Strategy Consulting; and Gary Chapman, President, Group Support Services, Emirates Airlines.

The Leasing Fair & Trade Expo ran concurrently with the conference. The event ran March 19 through March 20, 2007.