SHOPPING CENTRE UPDATE
Breaking the Brick
V
ideo kills the Radio Stars. This is not correct. Radio is booming and so is video, neither has disappeared. Online retail taking over physical shopping is very unlikely. These debates have raged on in much the same way for the last 10 years. I believe in a complementing approach. Great methods will always work very well together. But if we mixed up different methods without maintaining the same quality of those methods, then absolutely one will take over the other. Website or online presence of a brand should be at the same level as the physical shop of that brand. Great shopping centres will stay and great online shopping will stay. Bad business will disappear regardless. I started the article with this debate to create a solid foundation on the future of retail. The great time we are enjoying in KSA is like never before, with the many opportunities that we can capture. Saying online will hurt brick and mortar is not valid, especially in the KSA case, for many years to come. Many things have been changed in the last three years that affect our sector and many more are coming. CINEMA: The key anchor of cinema has been added to the list finally completing the typical entertainment offering within shopping centres. Incorporating the cinema box into operating shopping centre is not easy. Clear span structures, high ceilings and large floorplates are some of the hurdles. Compromising the fundamentals of tenant mix and floor plan layout can be challenging. Cinemas are an important element, but will not work everywhere. This is reminding me of the hype of the hypermarket 10 years ago. Custom large scale boxes are required. EASINESS OF SEPARATION: While still there is no official announcement on the needed change in the regulation of Single / Family sections within cafes, restaurants and Cinema, the physical separation is getting less according to many F&B concepts which have recently opened. Having a unified section, as exists in other GCC countries, will make the experience within the place more family and socially oriented. But it may affect some landlords since less leasable area may be required by tenants.
MAZEN QANDEEL Executive Director Granada Investment Center Organization Granada Investment Center Organization manages the well-known Granada Complex in Riyadh City. Granada Center and Granada Business Park are the major two components in this complex. He is in this position since October 2017. Before that Mazen was handling the Leasing Department in Hamat Property Co for almost 4 years and half. 22 different scales of Retail projects were under his management in 10 different city in Saudi Arabia. From 2010 till 2013, Mazen worked in Research and Capital Markets departments in Jones Lang LaSalle. In 2008, Mazen Graduated from King Fahad University of Petroleum and Minerals with Bachelor in Marketing.
24. RETAIL PEOPLE . OCT-DEC 2018
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10/21/18 12:20 PM