Dubai-based McArthur + Company, an international shopping centre development and leasing firm, has expanded into Saudi Arabia, Malaysia and Iran this year.

The firm has developed dozens of shopping centre projects in the Middle East, North Africa and Asia including Mall of Qatar and Tawar Mall in Qatar, Rashid Mall and Kingdom Centre in Saudi Arabia, The Boulevard at Emirates Towers, Souk Madinat Jumeirah and Sobha Hartland and Maqta Canal project in the UAE, Muzn Centre in Oman as well as the Al Hamra Centre in Kuwait and the Beirut Souks project.

Phil McArthur, founder and managing director, said: “People from all over the world admire the quality and standards of many of the world’s greatest malls in the UAE.

“Our team has deep experience in the development of these malls and other huge projects globally and we look forward to working with leading mall developers and investors in these new markets to improve the retail experience for consumers and retailers alike”.

The firm is solely focused on retail real estate through the planning of new shopping centres and mixed use developments as well as supporting mall investors with the repositioning and revitalisation of older projects in need of a helping hand for final success.

It recognised the Saudi Arabian market’s potential and the desire of consumers who possess a growing interest in international trends and products.

Furqan Athar, partner and strategic planning finance director, said: “Saudi Arabia has a quarter of the retail available in the UAE and only a tenth of the offering in Dubai. With this in mind, Saudi Arabia has an intensifying demand for the development of quality shopping centres and retail, complimented by the rise in disposable incomes and exposure to the western world.”

Malaysia is also experiencing a boom in mall development.  A recent CNN Travel poll named Kuala Lumpur as the fourth best shopping city in the world following behind London, Tokyo and New York.

According to the Malaysian Shopping Centre Association, there is currently only 0.3 sq m of shopping centre space per capita resulting in a market that is underserved.

A study of consumer trends and retail development in Iran by McArthur + Company recognised a huge gap in experience and expertise in the market with the development of over 300 shopping centres and very few international retailers.

“Similarly to Saudi Arabia and Malaysia, there is a lot of room for expansion. Iranians love shopping and are eager to visit modern shopping centres where they have access to international brands.  We are confident the international community will support Iran’s desire to improve their retail landscape,” said Athar.

One of the firm’s strategies will be to hire, train and nurture local talent for market research, development planning as well as retail leasing, marketing and operations. Their approach is simple - uses international best development practices combined with a deep knowledge of local retail markets and shopping influences. - TradeArabia News Service