Dubai’s mall economy is experiencing an unprecedented boom, defying global trends where traditional malls struggle against e-commerce. The UAE’s retail landscape is undergoing a transformative phase, with new developments and ambitious refurbishments reshaping the city’s iconic shopping destinations. Unlike many global counterparts, Dubai’s malls are thriving, evolving into immersive, multi-sensory hubs that blend shopping, dining, entertainment, and culture. This growth is not just a retail phenomenon but a cornerstone of the city’s tourism and economic strategy. In 2024, Dubai Mall alone attracted 111 million visitors, solidifying its status as the world’s most visited place. The mall economy’s ripple effects extend beyond retail, anchoring real estate, boosting hospitality, and creating jobs. Developers are investing billions in expansions, such as Emaar’s Dh1.5 billion District project and Majid Al Futtaim’s Dh5 billion transformation of Mall of the Emirates. Community malls like Nad Al Sheba are also gaining traction, enhancing local living standards and real estate values. Dubai’s malls have successfully integrated digital innovations, creating a hybrid shopping experience that complements rather than competes with e-commerce. However, sustaining this growth poses challenges, including managing environmental impacts and ensuring continuous innovation. The future of Dubai’s malls lies in leveraging AI, AR, and IoT to create immersive, personalized experiences, cementing their role as lifestyle destinations rather than mere shopping venues.
分类： business
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The Bear House debuts in Dubai with its first store at Al Ghurair Centre with Omnis Group
The Bear House, a contemporary fashion brand originating from India, has made its international debut with the opening of its first store at Al Ghurair Centre in Dubai. This milestone marks the brand’s entry into the UAE market, introducing its signature minimalist style and modern essentials to fashion-forward consumers in the region. The grand opening event, hosted by Omnis Group, was a star-studded affair attended by influencers, media personalities, and fashion enthusiasts. The celebration featured live music, exclusive launch-day promotions, and a curated selection of food and beverages, creating a vibrant and stylish atmosphere. The Bear House’s latest collection, showcased at the event, offers elevated everyday pieces designed for the modern, style-conscious individual. Akarsh Gautam, CEO of Omnis Group, expressed his enthusiasm, stating, ‘We are thrilled to bring The Bear House to the UAE, offering high-quality, accessible fashion that resonates with today’s urban customer.’ Co-founders Harsh Somaiya and Tanvi Somaiya emphasized Dubai’s significance as a fashion hub, calling it the ideal location for their first international store. They described The Bear House as more than a clothing brand—it’s a lifestyle that embodies design, comfort, and community. The store’s minimalist and contemporary design reflects the brand’s aesthetic, offering versatile pieces that seamlessly transition across occasions. This launch sets the stage for The Bear House’s regional expansion, aligning with Omnis Group’s vision of shaping the future of accessible, modern fashion in the GCC. The collection is now available in-store at Al Ghurair Centre and online at www.thebearhouse.ae.
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Dh1.7 billion: Etihad Airways delivers record 9-month profit, up by 26% since last year
Etihad Airways, the flagship carrier of Abu Dhabi, has reported a historic nine-month profit of Dh1.7 billion ($463 million) for the first three quarters of 2025, marking a 26% increase compared to the same period last year. This remarkable performance has elevated the airline’s profit margin to 8%, up from 7% in 2024. The airline’s total revenue surged by 18% year-on-year to Dh21.7 billion ($5.9 billion), driven by robust growth in both passenger and cargo segments. Passenger revenue rose by 20% to Dh18.2 billion ($4.9 billion), while cargo revenue increased by 8% to Dh3.2 billion ($875 million). Etihad transported a record 16.1 million passengers during this period, an 18% year-on-year increase, supported by a 17% rise in capacity and an improved load factor of 88%. The airline’s operating performance remained strong, with EBITDA growing by 27% to Dh4.3 billion ($1.2 billion), and operating cash flow reaching nearly Dh6 billion ($1.5 billion), a 40% increase from the previous year. Customer satisfaction also reached new heights, with Net Promoter Scores (NPS) achieving record levels across all cabins, particularly in premium classes. The introduction of the A321LR fleet has been widely praised for its comfort and service. Antonoaldo Neves, CEO of Etihad Airways, attributed the airline’s success to its ability to outpace market growth and contribute significantly to the UAE’s passenger traffic expansion.
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Financial markets grow fretful after reports of UK government abandoning income tax hike
British financial markets experienced turbulence on Friday amid growing speculation that the Labour government has abandoned plans to raise income taxes in its upcoming budget. Treasury Chief Rachel Reeves had been considering increasing the basic rate of income tax, a move that would have marked the first such hike in 50 years. However, reports suggest she has decided against it, sparking investor unease over the government’s fiscal strategy. By late afternoon, the pound had fallen by 0.4% to $1.3137, while the yield on the UK’s benchmark 10-year bond rose by 0.13 percentage points to 4.57%. The bond yield increase reflects investor concerns about the UK’s public finances and the government’s ability to make bold fiscal decisions. Andrew Goodwin, Deutsche Bank’s chief UK economist, noted that the budget serves as a critical test of market confidence in the government’s fiscal approach. He added that political considerations, such as voter backlash against tax hikes, could reinforce perceptions that the government is unwilling to make tough decisions. The Labour government, elected in July 2024, faces significant challenges, including sluggish economic growth and stubbornly high inflation. Prime Minister Keir Starmer’s administration has struggled to deliver on its promise of economic revitalization, with public services strained and the cost of living crisis persisting. Reeves had previously indicated that breaking the manifesto pledge on taxes would necessitate deep cuts to public investment. However, updated forecasts from the Office for Budget Responsibility suggest stronger wage growth may reduce the need for such measures. Health Secretary Wes Streeting welcomed reports of the tax hike’s abandonment, emphasizing the importance of maintaining public trust by honoring election promises.
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The Caden by Prescott introduces Dh650 million lagoon-front homes designed for wellness and innovation
Prescott, a renowned developer in Dubai, has launched its latest residential project, The Caden, a Dh650 million development designed to redefine luxury living. Situated in Meydan Horizon, one of Dubai’s last lagoon-front master-planned communities near Downtown, The Caden offers spacious, meticulously designed residences with no studios, emphasizing low-density, high-comfort living. The project is strategically positioned on a man-made crystal lagoon, providing residents with stunning waterside views and a serene environment.
The Caden is more than just a residential development; it is a wellness and innovation hub. The project features resident-curated amenities, smart technology, and elevated design, reflecting Prescott’s commitment to quality and functionality. Shaheer Tabani, Prescott’s executive director, described the project as a passion endeavor, highlighting the team’s dedication to delivering an unparalleled living experience. ‘Every square foot of this project surpasses anything seen before,’ Tabani stated, emphasizing the attention to detail and customer-centric approach.
The unveiling took place at Prescott’s newly upgraded experience centre in Dubai Hills, a multifunctional space that includes a fully furnished show apartment, podcast studio, theatre, refreshment lounge, and meeting rooms. This venue underscores Prescott’s ambition to set new standards in Dubai’s competitive real estate market. The Caden’s amenities and layouts were shaped by direct feedback from Prescott’s loyal clientele, ensuring the development aligns with the needs and desires of its future residents.
For more information, visit www.prescott.ae.
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Peru eyes more Chinese investment after Chancay Port boost
Peru is actively pursuing increased Chinese investment to bolster its economic development and enhance public welfare, following the successful inauguration of the Chancay Port, a key project under China’s Belt and Road Initiative. Gonzalo Talavera, the charge d’affaires ad interim of the Peruvian Embassy in China, emphasized this goal during a recent event in Beijing, where he highlighted investment opportunities in sectors such as infrastructure, energy, and public well-being. The Chancay Port, which celebrated its first anniversary on Friday, has emerged as a pivotal trade hub in Latin America, significantly reducing maritime transport times and boosting trade between China, Peru, and the broader South American region. According to Peru’s Customs authority, the port has facilitated $603 million in exports and $984 million in imports in the first nine months of this year, generating $207 million in tax revenue and supporting regional economic growth. Talavera noted that the port has enhanced connectivity for landlocked neighboring countries and reduced logistics costs across South America. He also praised China’s leadership in railway construction and solar energy, inviting more Chinese enterprises to invest in Peru and share their expertise. ‘We consider China a reliable partner,’ Talavera stated, adding that increased Chinese investment would drive Peru’s socioeconomic development and benefit both nations.
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Switzerland to boost US investment as deal struck to lower US tariffs on Swiss goods to 15%
In a landmark development for international trade, Switzerland has unveiled a strategic plan to invest $200 billion in the United States by 2028. This announcement coincided with the finalization of a significant trade agreement that will substantially reduce U.S. tariffs on Swiss goods. Swiss Economy Minister Guy Parmelin revealed that the Trump administration has agreed to lower tariffs on most Swiss products from 39% to 15%, aligning them with the rates applied to the European Union. This agreement marks a pivotal moment in U.S.-Swiss trade relations, which had been strained since August when U.S. tariffs on Swiss goods were unexpectedly raised from 31% to 39%. The Swiss Federal Council, the country’s executive body, expressed gratitude to President Trump for his constructive engagement in resolving the dispute. The tariff reduction follows months of intense negotiations and lobbying efforts by Swiss government officials and business leaders, who had been advocating for more favorable trade terms. This deal is expected to bolster economic ties between the two nations and create new opportunities for Swiss exporters in the U.S. market.
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Firehouse Subs marks first anniversary in the UAE with launch of 4th branch and food fest
Firehouse Subs, the internationally acclaimed sub sandwich chain, is commemorating its first year in the United Arab Emirates with the grand opening of its fourth branch at Silicon Central Mall in Dubai. This milestone underscores the brand’s rapid expansion and growing popularity in the region. To celebrate, Firehouse Subs is hosting a vibrant Food Fest at the new location, offering guests an immersive experience filled with bold flavors, freshly crafted subs, and a lively atmosphere. The event, scheduled for November 14, 2025, from 5:30 PM to 8:30 PM, will feature exclusive promotions, including Buy One Get One (BOGO) vouchers for all customers and Dh100 vouchers for 50 lucky winners. With over 1,200 locations worldwide and ambitious plans to open 100 more stores in the next decade, Firehouse Subs continues to deliver premium, made-to-order subs in a warm and inviting setting. The Food Fest promises to be a celebration of community, great food, and shared moments, solidifying Firehouse Subs’ reputation as more than just a dining destination but a place to create lasting memories.
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Salman Hyder: Simplifying the UAE visa experience for the world
In the dynamic digital environment of the UAE, Salman Hyder, a Pakistani entrepreneur, has emerged as a trailblazer in transforming the nation’s visa and business services. As the founder of UAEVisa.com and Express Business Formation and Services (EBFS), Hyder has redefined the landscape of online visa applications and business setup processes. His platforms have become synonymous with innovation, transparency, and customer-centric solutions. Born in Karachi, Hyder’s expertise in information technology and marketing has enabled him to simplify complex systems for global users, making the UAE more accessible to travelers and entrepreneurs alike. His journey began with the creation of DubaiVisa.com, a pioneering online visa platform. Despite its success, financial challenges led him to part ways with the project, fueling his determination to build something even more impactful. This vision materialized as UAEVisa.com, which has set new standards in the visa facilitation industry. The platform offers a streamlined, hassle-free process, ensuring applicants receive their UAE visas quickly and confidently. Beyond tourism, Hyder’s EBFS provides comprehensive business setup services, including company registration, licensing, and visa processing, empowering entrepreneurs to navigate the UAE’s dynamic business environment. Hyder’s work is driven by a commitment to trust and transparency, ensuring compliance with UAE government guidelines. His story is a testament to resilience and innovation, blending South Asian ingenuity with Middle Eastern opportunities. Looking ahead, Hyder envisions UAEVisa.com as a holistic travel and business facilitation ecosystem, integrating services like travel insurance and digital ID verification. His journey exemplifies how vision and purpose can transform challenges into extraordinary achievements.
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Walmart boss retiring after more than a decade
Doug McMillon, the long-serving CEO of Walmart, is set to retire in January, marking the end of a transformative era for the retail giant. McMillon, 59, has led the company for over a decade, during which Walmart significantly expanded its e-commerce operations and streamlined its international ventures. His successor, John Furner, a seasoned Walmart executive who rose through the ranks from store-level positions, will assume the role of CEO. Furner currently oversees Walmart’s U.S. operations and is poised to guide the company through its next phase of growth. The leadership transition comes at a time when Walmart has demonstrated resilience, achieving steady growth despite challenges such as new tariffs and fluctuating consumer spending. Greg Penner, Walmart’s chairman, praised McMillon for his strategic investments in digital capabilities, supply chain modernization, and employee development, which have strengthened the company’s financial performance. McMillon will remain on the board as an adviser until June 2026 to ensure a smooth transition. In a statement, McMillon expressed his gratitude for the opportunity to lead Walmart and lauded Furner’s readiness to drive the company’s AI-driven transformation. Despite the announcement, Walmart’s shares dipped by 2% in early trading, reflecting investor reactions to the leadership change.