Rental rates in Dubai's three most popular malls have increased by as much as 20 per cent in the past six months as the gap widens between the best-performing shopping centres and the rest of the pack.
Mall of the Emirates, Deira City Centre and Dubai Mall have all hiked rents, according to analysts and retailers, as the shopping sector has flourished on the back of more tourists and an increased confidence among residents to spend.
Most retailers negotiate rents based on a percentage of revenues and, given the strong performance among stores in the past year, both retailers and malls have benefited from robust sales.
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