Shoppers at Mall of the Emirates. (Sarah Dea/The National / July 12, 2012)
Shoppers at Mall of the Emirates. (Sarah Dea/The National / July 12, 2012)
Shoppers at Mall of the Emirates. (Sarah Dea/The National / July 12, 2012)
Shoppers at Mall of the Emirates. (Sarah Dea/The National / July 12, 2012)

For shopaholics, what happens at the mall shouldn’t stay at the mall


Justin Thomas
  • English
  • Arabic

The Earth tilts on its axis in a timeless tango with the sun. This hot little move makes temperatures rise and ultimately gives birth to the season we call summer. In the UAE, this can mean temperatures of 50°C. And the arrival of such excessive heat has many residents heading for the great indoors. Picnics in the park are replaced by communal feeding in the food court; walks along the Corniche give way to trips to the mall.

The mall is a fairly easy target to criticise. If you hang out there too often, we might even call you a “mall rat” – hardly a flattering term. Some critics deride malls in more ecumenical terms, describing them as “cathedrals of consumption”, hallowed ground for those deeply committed to the consumer lifestyle.

Perhaps more charitably, malls have also been described as “privately owned public space”. There is no entrance fee and, to a large extent, admission is open to all members of the public. The mall is a gathering place, a social space where people do much more than simply shop. Perhaps the mall inherits some of the properties of the old village common or town square.

The UAE is a great place to explore the social concept of the mall. Few places on Earth have more retail space than the UAE. In 2005, Dubai was reported as having the third largest per capita retail space in the world. This was, of course, before Dubai Mall was built.

If malls are cathedrals of consumption, then Dubai Mall is St Peter’s, St Paul’s and Notre Dame combined. With more than 1 million square metres of space, Dubai mall epitomises the idea of the great indoors. In 2013, Dubai Mall reported 75 million visitors, earning it the title of the world’s most-visited shopping and leisure destination. It was the third consecutive year that Dubai Mall had achieved this accolade – if there is a trophy, then Dubai should just keep it.

But Dubai Mall is just one of many huge malls in the UAE. In Abu Dhabi, the recently opened Deerfields and Delma malls have added even more square metres to the UAE’s rapidly expanding indoor retail footprint.

Each mall is to some extent unique. Deerfields, my local mall, has a rather unattractive, shoebox exterior, but within lies a surprisingly elegant retail space with lots of natural light, white paint and soothing ambient Muzak. Delma Mall, by contrast, is much darker in decor and has no soundtrack. Then there is Marina Mall, home to the indoor ski slope that never was.

Despite the unique charms of each mall, the creeping monoculture of globalisation is also much in evidence. Global brands go head-to-head for market hegemony in these Arabian malls, much as they do elsewhere in the world. There are the same shoe shops, coffee chains and fast-food eateries you would find in any North American mall or European high street. However, one particular feature of the Arabian mall is the preponderance of perfumers: Hind Al Oud, Abdul Samad Al Qurashi and Rasasi to name just three. The ­local love of perfume and incense is profound. Dubai Mall is not only the biggest mall, but possibly the best-smelling one in the world too.

Being surrounded by a sea of shops, however, will incline some towards unhealthy overconsumption. This has been documented as a problem in the UAE. One report by Abu Dhabi’s department of planning and economy suggests that conspicuous consumption has led to a “hidden poverty” in the UAE, “where a certain segment of the society seek to possess luxurious items at the expense of essential goods”. That said, the explorer Ibn Battuta said something very similar about the inhabitants of the Gulf more than 700 years ago: “They too make great use of perfumes to such a degree that they will spend the night hungry in order to buy perfumes with the price of their food.”

If you have a gambling problem, don’t go to Las Vegas. If you have, what psychiatrists call a compulsive buying disorder (a shopping addiction), then perhaps the UAE is not for you. But the mall is a social space, not just a shopping space. The mall is where three generations of the same family take an evening stroll; the mall is where the Abu Dhabi Readers (a book club) meet to discuss works of literature.

The mall is my muse; much of my more creative work is undertaken in the mall.

Justin Thomas is an Associate Professor of psychology at Zayed University and author of Psychological Well-Being in the Gulf States

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Score

Third Test, Day 2

New Zealand 274
Pakistan 139-3 (61 ov)

Pakistan trail by 135 runs with 7 wickets remaining in the innings

Ready Player One
Dir: Steven Spielberg
Starring: Tye Sheridan, Olivia Cooke, Ben Mendelsohn, Mark Rylance

MATCH INFO

Uefa Champions League, semi-final result:

Liverpool 4-0 Barcelona

Liverpool win 4-3 on aggregate

Champions Legaue final: June 1, Madrid

The Greatest Royal Rumble card as it stands

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Chris Jericho

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v tba

 

ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EDate%20started%3A%3C%2Fstrong%3E%202020%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Khaldoon%20Bushnaq%20and%20Tariq%20Seksek%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%20Global%20Market%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20HealthTech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20100%3Cbr%3E%3Cstrong%3EFunding%20to%20date%3A%3C%2Fstrong%3E%20%2415%20million%3C%2Fp%3E%0A
THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

Volunteers offer workers a lifeline

Community volunteers have swung into action delivering food packages and toiletries to the men.

When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.

Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.

Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.

“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.

Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.

“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.

Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

THE DEALS

Hamilton $60m x 2 = $120m

Vettel $45m x 2 = $90m

Ricciardo $35m x 2 = $70m

Verstappen $55m x 3 = $165m

Leclerc $20m x 2 = $40m

TOTAL $485m

LEADERBOARD
%3Cp%3E-19%20T%20Fleetwood%20(Eng)%3B%20-18%20R%20McIlroy%20(NI)%2C%20T%20Lawrence%20(SA)%3B%20-16%20J%20Smith%3B%20-15%20F%20Molinari%20(Ita)%3B%20-14%20Z%20Lombard%20(SA)%2C%20S%20Crocker%20(US)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESelected%3A%20%3C%2Fstrong%3E-11%20A%20Meronk%20(Pol)%3B%20-10%20E%20Ferguson%20(Sco)%3B%20-8%20R%20Fox%20(NZ)%20-7%20L%20Donald%20(Eng)%3B%20-5%20T%20McKibbin%20(NI)%2C%20N%20Hoejgaard%20(Den)%3C%2Fp%3E%0A