Leading players of the retail real estate industry are set to gather at this year’s Middle East Council of Shopping Centres (MECSC) Convention.

The convention, being held from April 21 – 22 at the Dubai International Convention and Exhibition Centre, will discuss current trends, the future and explore new opportunities, the organiser said in a statement.

The event, now in its 13th year is a highlight on the industry calendar and will feature several high-profile international guest speakers who will address best practices, environmental sustainability, investment and development, it added.

According to the 2008 Annual Report from Retail International - the independent London-based shopping centre consultants specialising in the Middle East - by the end of 2009 the retail sector will contribute as much as 50 per cent to Dubai’s gross domestic product.

While economists and finance ministers have voiced concern at double-digit inflation over the past year in some nations of the Gulf region, exacerbated by the weakness of the US Dollar to which the GCC currencies are pegged, the outlook for the retail sector is optimistic particularly in terms of gross leasable area and spending.

“At the end of 2007 the Gulf had 7.75 million square metres of gross leasable area of organised retail space, a 2.1 million square metre increase on the previous year. The industry is expecting a similar, if not larger, increase this year.” said MECSC regional director Kim Redman.

“The innovative mall developments of the region are applauded globally and this coupled with a continued surge in tourism arrivals and increasing footfalls, equates to a very promising future for the retail sector.  In a word, growth.  We can expect continued sustainable growth.” she added.

The Retail International study on the Middle East's retail developments places Dubai far ahead of the rest of the region and predicts retail spending for the UAE as a whole, to surpass the Dh37 billion-mark by 2009.

“Dubai’s retail spending is forecast to cross Dh27.8 billion by the end of next year. By all accounts this is as a result of the massive retail and commercial developments such as Dubai Festival City, Mall of Arabia, Mall of the Emirates and the Dubai Mall. Dubai’s strategic position as a trading hub also factors,” said Redman.

Simon Thomson, a widely recognised guru in the retail sector across the Gulf, and principal of Retail International, said: “Looking further into the future towards 2020 current forecasts predict a completed supply of organised retail footage in excess of 18.5  million square metres across the existing GCC nations.”

The convention comprises  two key components:  Conference and the Trade Exhibition which features the Leasing Fair, Trade Expo and new for 2008, a dedicated Retail Zone, which will showcase existing brands and newcomers side by side, who are seeking to expand their presence in the region.

“We have been conscious that in order to maintain our position as the Middle East’s premier networking event for the retail real estate industry, we have had to continue to develop novel ideas and incorporate them into the convention.” said Redman.

“For example, last year we introduced the Leasing Fair and Trade Expo which were exceptionally well received and form part of the programme again this year.”

An enviable line-up of speakers will feature at the convention including Karim Rashid, who will present The Design Experience Economy;  Eric Kuhne, who will present Market Place of Idea; and showcasing the topic Funky Business is acclaimed Dr Kjell A Nordstrom, one of the world’s most influential management thinkers.

The 2008 MECSC Annual Convention is sponsored by Aldar, Colliers, Dubai Properties, Emaar Malls Group, Burjuman, Grand Optics and Ovaz Marketing & Investment. Media Sponsors include Retail & L